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Have there been any more developments regarding HARP 3.0?

by GWashington from Crofton, Maryland. Nov 5th 2012 Reply


Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

No, there are no plans for any new HARP programs as of now. Anything you hear is just speculation, the current HARP program is good for another year and a month.

Nov 5th 2012
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

There are a couple of politicians out there making proposals.. Menendez-Boxer proposed legislation: Senators Menendez (D-NJ) and Boxer (D-CA) have floated ideas for new legislation that would level the field by making the new lenders' risk the same as the original lenders' risk. They also propose eliminating some of the stricter requirement that exist in the automated system. Although their proposal has not yet been submitted, pressure is being made to get more people aboard this HARP 3.0 program. Also, President Obama had proposed a plan dubbed "Obama's Refinance Plan".. Under this plan, it's supposed to help borrowers who have not qualified under HARP 2.0, and it would be an FHA backed loan product.. This plan is unlikely to happen until after the elections, if it happens at all.. Stay tuned.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Nov 5th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Haven't heard anything new.

Nov 5th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Nothing I've seen. It may depend on what you are trying to accomplish - what change do you need for your situation?

Nov 5th 2012
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Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

There has not been any new information released lately regarding the current HARP program.

Nov 5th 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

NO , JUST all talk, and if it ever comes out , it will be for the non fannie/freddit loans, posbilby the jumbo market, but probably will not ever get guildines , like the harp 2 took forover to get guildlines linda

Nov 5th 2012
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Manuel Gonzalez (mmortgage1)
#90 ranked lender in New Jersey - 90 contributions

What is the reason you ask for 3.0? There are many enhancements in the current Home Affordable Refinance Program that may suite many if not all. The only other enhancement I could think of is removing the risk layers to affect Rates, which I don't see ever happening.

Nov 5th 2012
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