HARP 2.0 definition

HARP 2.0 means the Home Affordable Refinance Program 2.0.
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HARP 2.0 means the Home Affordable Refinance Program authorized by sections 101 and 109 of the Emergency Economic Stabilization Act of 2008, as amended by section 7002 of the American Recovery and Reinvestment Act of 2009.
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Examples of HARP 2.0 in a sentence

  • ELIMINATING NEGATIVE EQUITYThe Save Our Home AZ program has been a leader in combining principal reduc­ tion assistance with HARP 2.0, a program designed to help responsible homeowners who are current with their mortgages but continue to face a negative equity positions with their mortgages.

  • Property must be the homeowner’s primary residence.• Current Loan to Value (LTV) or Combined Loan to Value (CLTV) must be more than 120%.• Principal reduction target of 100% LTV after HARP 2.0 refinance.• Assistance will be provided without a lien.• Unsecured promissory note signed concur- rently with HARP 2.0 refinance.• May be combined with Second Mortgage Settlement Assistance.

  • FHFA’s initial HARP 2.0 modifications incorporated five important changes to the HARP- eligibility criteria.

  • In November 2012, Mr. Umana lost his job as an See SOHAZ on page 2 KEY HARP 2.0 ProgramQualifications:• Homeowner’s loan must be owned by Fannie Mae or Freddie Mac.• Household may not have Gross Income of more than 150% of Area Median Income (AMI) (i.e., for a family of four in Maricopa County, the income limit is $99,562.50 or less).• Eligible properties may not have an outstand-ing mortgage(s) in excess of 150% of purchase price.

  • After receiving feedback from stakeholders, FHFA and the Enterprises announced several additional changes to HARP 2.0 in 2012 and 2013.

  • The assistance loan requires a lien (mortgage) for the total amount of assistance approved be placed on the property, except in cases of HARP 2.0 assistance.

  • Available data indicated that HARP 2.0 continued to generate substantial volumes into the quarterly period.

  • Among many changes brought by HARP 2.0 to encourage borrowers to refinance into HARP loans, even a borrower with LTV greater than 125% were allowed to refinance into HARP mortgages without private mortgage insurance.As mortgage rates increased in recent years, the refinancing volume decreased, and the shares of the high-balance and high-LTV MBS also decreased.

  • He added the mil rate for 601 fund will go down this year because of increased property values.

  • State Offers Mortgage Relief Program Combining HARP 2.0 and Principal Reduction,” Press release, July 1, 2012, available at http://nevadahardesthitfund.nv.gov/PRHARP20andCurtailment_GOV.pdf.

Related to HARP 2.0

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