PORTLAND, Ore. – OnPoint Community CU will participate in the expanded Home Affordable Refinance Program to help homeowners who are underwater on their mortgages.
An initial version of the federal program limited the assistance to those owners whose loan-to-value ratio, the amount owed on the mortgage divided by the property’s appraised value, did not exceed 125%. The expanded HARP program removes that limit, allowing more distressed homeowners to qualify.
OnPoint will now be able to offer the expanded HARP service.
