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Working with Your Lender

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Working with Your Lender

When you call your lender to discuss options to make your payments more affordable or to avoid foreclosure, it is important that you are well prepared and have an idea of what to expect.

We encourage you to visit our Mortgage Help Navigator, our interactive tool designed to guide you to the mortgage relief option that is best for your particular situation.


Refinancing Through HARP

If you are current on your mortgage payment but unable to qualify for a refinance due to having little or no equity in your home, the Home Affordable Refinance Program® (HARP) may help you take advantage of today’s low interest rates.

Get Educated

To be eligible for HARP, you must meet the program’s eligibility criteria:

  • You are current on your mortgage, with no 30-day+ late payments in the last six months and no more than one in the past 12 months
  • Your home is your primary residence, a 1-unit second home or a 1- to 4-unit investment property
  • Your loan is owned by either Freddie Mac or Fannie Mae
  • The note date on your mortgage is on or before May 31, 2009. By visiting the respective loan look-up tools, this date will be made available to you if you are unsure.

If you were not eligible for HARP in the past, we encourage you to try again since the program has been significantly enhanced since it launched in 2009.

Visit our most frequently asked questions to learn more about the program.

Reach Out and Get Prepared

If you loan is owned by Freddie Mac, there are two options that require different levels of preparation and documentation:

  • Refinancing through your existing lender
    • Call your lender to find out if they participate in HARP and let them know you are interested in the program. For your convenience, we provide contact information for many lenders that work with their existing borrowers for a HARP refinance.
    • Since your lender already has the necessary files and documents, there are fewer requalification steps and the process is streamlined.  However, one item your lender will need is your proof of income. 
  • Refinancing through a different participating lender
    • If your existing lender does not offer HARP, review our list of additional HARP lenders to find a lender that may be able to help you.
    • Because a different lender will not have your information or documentation on file, they will need to requalify and re-underwrite your new loan.  You will need to gather the following documents for underwriting:
      • Your most recent monthly mortgage statement
      • Pay stubs or other documents showing your household's monthly pre-tax income
      • Most recent tax return
      • Second loan or home equity line of credit statements
      • Account balances and minimum monthly payments on credit cards, car loans, student loans or other debt

If your lender determines that you qualify for HARP, they will guide you through the application, approval, and closing process – much like your original purchase process.

Home Affordable Refinance Program® and HAMP® are registered trademarks of the U.S. Department of Treasury.

Avoiding Foreclosure

As you work with your lender, be sure to use our Lender Contact Log to help you document important information from your discussions, including points of contact and action items.

Get Prepared

Being well organized and prepared will help your lender better understand your financial position and assess your qualification for workout options, and will likely result in a more productive conversation.

  • Be sure to have your account information handy and be prepared to provide an explanation of why you are unable to pay your mortgage payment, or why you anticipate trouble in the near future. Is there a loss or reduction in income? Is there a medical emergency?
  • If you don't have a budget, now is the time to know exactly what you are spending each month. If you can, assemble your monthly budget and have it on hand.
  • You'll also need to have the following documents readily available:
    • Your most recent monthly mortgage statement
    • Pay stubs or other documents showing your household's monthly pre-tax income
    • Most recent tax return
    • Second loan or home equity line of credit statements
    • Account balances and minimum monthly payments on credit cards, car loans, student loans or other debt
    • A short, concise description of the financial hardship that is causing – or leading to – a mortgage delinquency with supporting proof

What to Expect

Be prepared for more than one conversation. Your lender may require you to complete a loan workout package, also known as a Borrower Response Package. It is important that you complete it as soon as you receive it because, in some cases, the lender cannot proceed to the next step without the completed and signed documents.

Questions to ask your lender:

  • How much time do you allow to complete a workout?
  • What are your obligations under the Borrower Response Package?
  • What are the specifics? Be sure to ask what is due and when.
  • Will a foreclosure sale of your property be put on hold while your lender looks at the possibility of a workout?

If you are having trouble reaching your lender, be patient and diligent. Call volume is high and lenders are working hard to get to every call as quickly as possible.

Additional Guidance

Your lender wants to help you and should be your first call for assistance. However, if you still have questions or need additional guidance after talking to your lender, you may contact a Freddie Mac representative at 800-373-3343 and selecting option #2.


Steps to Get Started with HARP

  1. See if Freddie Mac Owns Your Loan
  2. Learn More About HARP
  3. Check Your Eligibility for HARP
  4. Get Prepared and Call Your Lender
  5. Find a HARP Lender

Refinance with HARP

Act Now, HARP Ends Soon

HARP is helping millions refinance into today's low interest rates – even with little or no equity.

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