The HARP 3 proposal is being talked about even more as the fiscal cliff looms upon us, but will it become law?

HARP 3 will allow home owners whose mortgages are not backed by Fannie Mae or Freddie Mac to refinance their underwater homes into historic low mortgage rates.

The HARP 3 deal is not official yet but the talk surrounding it is getting louder and louder. We will just have to wait and see if HARP 3 becomes reality in 2013.