Stop Foreclosure

The Fannie Mae Home Affordable Refinance Program – For Homeowner’s Seeking to Prevent Foreclosure

One of the national alternatives to the Keep Your Home California foreclosure prevention programs was Fannie Mae’s HAMP program. While that program ended on December 31st, 2016, one of Fannie Mae’s other homeowner assistance programs under their Making Home Affordable Program is the Home Affordable Refinance Program (HARP).

HARP’s availability was extended to December 31st, 2018, and while it doesn’t provide the same level of assistance that HAMP did to homeowners in foreclosure, it is designed to aid homeowners in preventing foreclosure. It does so by offering a refinance option for homeowners whose property values have fallen and who haven’t been able to obtain a lower mortgage rate or refinance.

According to the HARP’s program page, “[t]he loan modification program is intended to prevent foreclosure for borrowers in default or in imminent danger of default, and has clear guidelines regarding qualification and terms.”

“The Refi Plus options are intended for borrowers who:

Are not having difficulty making their monthly payments;

Are current on their payments at the time of refinance; and

Have not been delinquent in the most recent 6-month period, or had more than one 30-day delinquency in months 7 through 12.”

HARP is designed to move a homeowner from a risky/unstable mortgage to a more stable loan:
Practical examples would include the following:

“[Moving from a] mortgage loan with an interest-only feature to a fully amortizing mortgage product (provides
amortization of principal and accumulation of equity in the property);

An adjustable-rate mortgage (ARM) to a fixed-rate mortgage (FRM) (elimination of the potential for payment shock);

An ARM to a new ARM with an initial fixed period of five years or more, and equal to or greater than that of the existing mortgage (elimination of pending payment shock and movement to the same or longer initial fixed-interest rate period)”

To find out if you qualify, you can utilize Fannie Mae’s online loan lookup utility, which asks for only the homeowner’s name and address and checks whether Fannie Mae is an investor on the original loan in some capacity:

Or homeowners can contact Fannie Mae by phone at 1-800-2FANNIE (1-800-232-6643, option 3) (8a.m. – 8 p.m. ET)
or by emailing

More information on the HARP program can be found here: