HARP has expanded its guidelines to help more homeowners. Effective immediately HARP will change the program to include the Note date or closing date of a loan as the effective date rather than the date it was sold and securitized by Fannie Mae or Freddie Mac. To qualify the loan must have closed on or before May 1, 2009.

This will reduce some ambiguity in the program as some homeowners who appeared to qualify because they closed on their home prior to May 1, 2009 didn’t because the loan wasn’t securitized for another 30 days. It’s a small change but a welcome one. If you have clients who closed on a purchase prior to May 1, 2009 in South Carolina it would be a good opportunity to make a call and let them know they may be eligible for big savings. Who knows you might be repaid with a new listing from an old client that you helped a second time.