FHLMC Helping Homeowners with HARP

Investor Update: On September 24, Senior Vice President of Corporate Communications & External Relations Hollis McLoughlin published an Executive Perspectives Blog entitled Helping Homeowners with HARP. The HARP program, initially launched in 2009 and enhanced in 2011, was designed to help struggling homeowners with mortgages owned by Freddie Mac or Fannie Mae.

Helping Homeowners with HARP

For America’s underwater homeowners -- particularly those who live in areas hit hardest by the housing crisis -- the launch of “HARP 2.0” has been welcome news. The program was initially launched in 2009 to help struggling homeowners with mortgages owned by Freddie Mac or Fannie Mae refinance to more sustainable terms. In October 2011, the program was significantly enhanced, providing more homeowners with the opportunity to refinance at today’s historically low mortgage rates -- even if they have little or no equity in their home. HARP 2.0 is already delivering strong results and in the first half of 2012, our purchase volume of HARP refinances increased 76 percent compared to the first half of 2011.

One of our top priorities is ensuring that America’s families have access to reliable information about HARP. We recognize that the Internet is one of the easiest and most accessible ways to provide homeowners with important tools, resources, and user-friendly guidance regarding their mortgage, and we continue to focus on FreddieMac.com to meet their needs. Today, FreddieMac.com serves as the starting point for many borrowers interested in HARP and other mortgage relief options.

To meet strong consumer demand for the enhanced HARP 2.0 program, we recently launched new tools on our website, including the “HARP Eligibility Tool,” and improved upon our existing content and navigation.

HARP is providing substantial relief to homeowners who might otherwise be unable to refinance due to house price declines. Since its inception, more than 1.5 million homeowners have refinanced through HARP. We are pleased to see such success – and proud that FreddieMac.com is serving an important role.

Steps to Get Started with HARP
If you are a homeowner looking to refinance through HARP, visit us at FreddieMac.com and follow these steps to get started:

The Numbers: How HARP is Helping the Nation Recover

    • More than 1.5 million homeowners have refinanced through HARP since the program's inception
    • Freddie Mac’s purchase volume of HARP loans increased 76% in the first half of 2012, compared to the first half of 2011
    • Since 2009, our refinance efforts have helped 5.2 million American families save on average $2,500 a year in interest payments

To view the online article, please click here.


About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees  and a handful of contractors performing services in the Midwest, to a national company with more than 1,600 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.

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