Borrowers who fulfill the following criteria will, in general, qualify for HARP:
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- they must be current on their mortgages and have no record of late payment within the last six months, and may only have had one late payment maximum over the past 12-month period.
- the current loan-to-value ratio (LTV) must be higher than 80%.
- the mortgage must have been sold to or guaranteed by Fannie Mae or Freddie Mac on or before May 31, 2009
- the mortgage must not have already been refinanced through HARP in the past, unless it happens to be a Fannie Mae loan that underwent a HARP refinance between March and May 2009.