The HARP refinance plan may be advantageous for any homeowners, but it is especially so for those who do not otherwise qualify for a mortgage refinance. Homeowners who have a first and second mortgage on their home can utilize HARP to refinance their first mortgage only. The second mortgage will simply remain as it is.

Any homeowner who owes more than their house is worth, has a mortgage with interest rates higher than the currently prevailing rates, has an adjustable rate mortgage, or are not eligible for the typical refinance loan, may qualify for HARP. This program can be tremendously valuable to homeowners, assisting them to hold on to their home and keep current with their mortgage payments.

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