By now most have heard about HARP 2.0 (the re-work of the previously released Home Affordable Refinance Program). If not, then see my previous posts covering HARP 2.0 and the BENEFITS OF HARP 2.0 for a quick glimpse at the popular refinance program.
As many of you know, if your current mortgage is not insured/owned by Fannie Mae or Freddie Mac you do not qualify for a refinance with HARP 2.0. Help may be on its way.
Today’s Daily Mortgage News and Commentary report by Rob Chrisman talks about the possibility that HARP 3.0 may be on the horizon. From the report:
“A company owner from California wrote, saying, “I received an email from one of our wholesale sources saying their owner was in Washington DC and met with senior HUD official(s) and member(s) of Senate Finance Committee who indicated a HARP III program by end of June. It will allow conforming loans to be refi’d through FHA regardless of LTV or note holder.”
He also mentions that there has been no word on when the current mortgage must have funded, whereas the current HARP 2.0 program requires that your loan was insured by Fannie Mae or Freddie Mac prior to May 31, 2009.
Contact me if you are in Ohio and would like me to keep you updated as more information comes out on this potential new loan program.
If you’d like to check if you are eligible to refinance under the HARP 2.0 program and you are in Ohio complete this RATE QUOTE REQUEST form or CONTACT ME directly.
