HARP Gives Homeowners Hope

Are you one of the 32,169 Illinois homeowners who could be saving thousands on their mortgage? In the Chicago metro area there are 27,639 HARP-eligible homeowners, more than anywhere else in the country!

The Home Affordable Refinance Program® (HARP®) gives homeowners the chance to refinance into more affordable mortgages, lowering their monthly payments and interest rates, helping them build equity faster, and more. Homeowners are saving up to $200 a month, or $2,400 a year, by refinancing. No matter how much your home has decreased in value, you may be eligible to refinance through HARP® if:

  1. Your loan is owned or guaranteed by Fannie Mae or Freddie Mac,

  2. Your loan was originated on or before May 31, 2009

  3. Your current loan-to-value (LTV) ratio is over 80% (calculate your LTV here:

  4. And you’re current on your mortgage payments, with no late payments in the past 6 months and no more than one late payment in the past 12 months

Since HARP began in 2009 as a part of the Federal Housing Finance Agency’s Making Home Affordable initiatives, more than 220,000 Illinois homeowners have refinanced their homes, making their mortgages more stable, sustainable, and affordable. The deadline to refinance with HARP® has been extended to December 31, 2016.

If you think you might qualify for HARP, or know someone who might, Spanish Coalition for Housing is here to help. In addition to HARP®, there are many refinance, modification, and assistance programs available, and SCH’s experienced counselors can help you find the program that’s right for your circumstances. Your home doesn’t have to be a burden; find out if this is the year to make yours a better mortgage.

For more information about HARP®, call Spanish Coalition for Housing to make an appointment with a Homeownership Counselor, or visit

Spanish Coalition for Housing:
North Office – 1922 N. Pulaski Rd.  (773)342-7575

South Office – 1915 S. Blue Island    (312)850-2660

SouthEast Office – 9010 S. Commercial    (773)933-7575


Home Affordable Refinance Program and HARP® are registered trademarks of the Federal Housing Finance Agency (FHFA). Spanish Coalition for Housing ( is not associated with FHFA or any government program. Official information about the Home Affordance Refinance Program (HARP) is located at

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