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FHFA Announces Miami HARP Outreach Event Dec. 5

Florida Has Most Homeowners in U.S. Eligible for Refinance Program


​​​Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced it will hold its fourth event to reach homeowners who could save as much as $200 per month through the Home Affordable Refinance Program (HARP).  FHFA Director Mel Watt will join housing experts and community leaders on December 5 in a town hall-style meeting at Miami Dade College North Campus in Miami, Florida.  The event is designed to provide tools to community leaders to encourage the more than 21,000 Miami area residents still eligible to take advantage of HARP.

“We will be working with community leaders and other trusted sources to get the word out that more than 97,000 homeowners in Florida are still eligible for and can save money by refinancing through HARP,” said FHFA Director Watt. “We will also be providing information about the range of assistance available to homeowners in distress other than those who are eligible for HARP.”

Director Watt will kick off the event and Maria Fernandez, Associate Director for the Office of Housing and Regulatory Policy at FHFA, will moderate a panel discussion including representatives from the U.S. Department of the Treasury, Fannie Mae, Freddie Mac, Ditech Mortgage Corporation/Green Tree Servicing, and a representative with Consolidated Credit Solutions in Miami.  

According to new data from the FHFA, as of the second quarter, there are more than 722,000 eligible homeowners nationwide who would benefit financially from HARP, with more than 97,000 in Florida alone.  This includes more than 21,000 in Miami, 17,000 in Tampa, more than 11,000 in Orlando, and more than 9,000 in Jacksonville.  FHFA’s interactive map of the U.S. shows HARP-eligible borrowers by Metropolitan Statistical Area, county, or zip code.

​To be eligible for HARP, homeowners must meet the following criteria:

  • Their loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
  • Their mortgage must have been originated on or before May 31, 2009.
  • Their current loan-to-value ratio must be greater than 80 percent.
  • They must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.

Borrowers generally benefit from HARP if they meet those criteria and have a remaining balance of $50,000 or more on their mortgage, have a remaining term on their mortgage of greater than 10 years, and their mortgage interest rate is at least 1.5 percent higher than current market rates.  

FHFA and the Treasury Department introduced HARP in early 2009 as part of the Making Home Affordable program.  As of August 2014, more than 3.2 million homeowners have refinanced through HARP.  HARP is one of the few refinance programs that allows borrowers with little or no equity to take advantage of low interest rates and other refinancing benefits.  

FHFA launched a nationwide public awareness campaign and the website HARP.gov and HARP.gov/espanol​ to reach borrowers who are eligible to participate in HARP.  FHFA has held HARP outreach events in Chicago, Atlanta, and Detroit, the cities with the highest number of eligible borrowers.  Follow @FHFA on Twitter for information on the Miami event.

Link to HARP Toolkit 



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.6 trillion in funding for the U.S. mortgage markets and financial institutions.


Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032

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