Yes you can. HARP loans are not restricted to the primary residence. This is extremely good news for investors who may have a property with a negative cash flow. A second home and an investment property are eligible for a refinance under the HARP program. It could be the answer to your prayers.

The occupancy status is simply determined by how the property is being used at the time of application.

This does not mean though that second homes and investment properties enjoy all the same advantages that primary residences do under the HARP program. Even though all occupancy types do not need equity to refinance, HARP refinance rates are more favorable for owner occupied properties.

Specifically, Fannie Mae only provides the best rates for primary residences whereas Freddie Mac extends the best terms for both primary residences and 2nd homes. Investment properties refinanced under HARP 2.0 are subject to the highest mortgages rates from both Fannie Mae and Freddie Mac.

If you are a Florida homeowner, you can use the Florida Home Affordable Refinance Program and you will get a lower monthly principal and interest payment. You will have a lower rate, and a lesser amortization period. This is a limited time program, so call Ruth Schoenherr right away.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net.