Will Harps 3 help a homeowner with a second mortgage

Well, seeing as there is no HARP 3 (yet), pretty hard to answer that question. The current HARP program doesn't allow you to roll it into a new loan, so one would assume if there ever is a HARP 3, that would be true for that program too. www.HARP3-refinance.com

As Joe stated, There is no HARP 3, and even If there were, you wouldn't be allowed to combine both a first and 2nd into a new first mortgage.. you can however refinance your first and have the 2nd re-subordinate. This would allow you to take advantage of the lower interest rates, and lower your payment.. but only on the first mortgage.. the 2nd would remain unchanged.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Don't hold your breath for HARP 3, unless we have another major meltdown it does not appear likely. You can refinance under HARP even though you have a 2nd mortgage. However, it isn't possible to wrap it into the new loan and the lender on the 2nd mortgage has to agree to allow the new 1st mortgage to be in first position. Most are okay with that as long as the new mortgage amount is not much higher than the current one.