If you have been current on your mortgage for the last 12 months and have been unable to refinance your home because the value of your home has declined you may still be eligible for a mortgage refinance through the Home Affordable Refinance Program (HARP).

You may be eligible for HARP if you meet all of the following criteria:

• The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
• The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
• The current loan-to-value (LTV) ratio must be greater than 80%.
• The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.

If your loan is owned by Freddie Mac, you may check your potential eligibility for HARP here.

If your loan is owned by Fannie Mae, you may check your potential eligibility for HARP here.