[讨论] Obama to Change HARP to Refinance ALL Government Backed Mortgages

何鸿燊

Not Just Those Who Owe 125% or Less on Loan



Looks like the plan floated in late summer [Aug 25, 2011: White House Considering Plan for Country Wide Refinance of Government Backed Loans]  is coming to fruition as we have news today that every government backed loan (as long as someone meets a few conditions) will now be eligible for refinancing, regardless of loan to value.   

Originally the HARP (Home Affordable Refinance Program) was limited to those not only with no equity in their home, but up to -5% equity.   Then it was adjusted up to -25% equity.  Now there will be no negative equity limitation.   Apparently, President Obama can do this without Congressional approval.

As the story in August detailed, if everyone eligible participated this would be about a $85B stimulus to the economy.

aimei

Only to those who are still in making mortgage payment

何鸿燊

回复 2# aimei


    That's fair and for sure. Otherwise everybody becomes lazy parasites like the Greeks.