HARP FAQ #6 – Can I Be Late On My Mortgage and Still Qualify for HARP 2?

Late Mortgage Payment for HARP 2California Home Affordable Refinance Program (HARP) guidelines suggest that you can’t be late on your mortgage during last 6 months to qualify for this Government Program. Further, you can not be more than 1 time 30 days late between 7-12 months immediately prior to the loan application date

So what if I am currently late on my mortgage payment – can I still qualify?

Yes, you can. And here’s how. Say if you are currently 30 days late on your mortgage payment and want to qualify for California HARP 2 program. If you have not been late in last 12 months and this is the first month you are late; you can now start making all your payments on time and qualify after 6 months. Remember the rule – no late in last 6 months and no more than 1 late in 7-12 months.

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The new Home Affordable Refinance Program guidelines are good till end of 2013. So even if you are currently late or has been late in past 12 months, you still have chance. Simply start making all your payments in time and in next 6-12 months, you should be able to qualify. This assumes that you already qualify based on other parameters.

If you have been late on your mortgage payment in last 12 months, contact us and we will help you qualify for California HARP Loan for Underwater and Upside down mortgages. We are a California HARP Approved lender and can be reached at 408.615.0655 or Info@ArcusLending.com.



Shashank Shekhar is a mortgage lender with Arcus Lending. He is a published author, a national speaker and an avid blogger. Shashank has been featured on various media and was named "Top 40 Under 40" Most influential mortgage professionals in the country. For a free consultation about your mortgage needs contact him at (408) 615-0655 or Shashank@ArcusLending.com

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