Things to do in Washington DC: FHFA extends HARP till 2015

FHFA extends HARP till 2015

#BreakingNews from HOUSING WIRE #FHFA extends #HARP till 2015.
 
 
FHFA (The Federal Housing Finance Agency) directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program by two years to Dec. 31, 2015. This has to be a big surprise. Many people are sure didnt expect this to happen since the program was set to expire at the end of this year. 
 

Ed DeMarco, acting director of the FHFA said "More than 2 million homeowners have refinanced through HARP,proving it a useful tool for reducing risk," He added, "We are extending the program so more underwater borrowers can benefit from the lower interest rates." Real Estate is slowly roaring back in many areas and now HARP gets extended. We need some great news in Real Estate considering what we have been dealing with the past seven years.


 

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Comments

Lanre:  Thanks for passing this info on ... and yes, it will be great news for some.  Wish they had expanded upon WHO will be helped some though ...

Gene

Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) over 5 years ago

Lanre, that is good news for homeowners who may be eligible for HARP. Two more years sounds about right. Thanks for your post today,

Posted by Pamela Seley, Residential Real Estate Agent serving SW RivCo CA (West Coast Realty Division) over 5 years ago

This is an interesting decision indeed since most people affected by the downturn have either already been foreclosed on, short sold their home, or refinanced through HARP. Either way, housing is leading the recovery, and hopefully this will only continue to help that recovery.

Posted by Fred Sed, Your Orange County Realtor, Why? Because Fred Sed (Fred Sed Group ~ Your Premier Orange County Realtors) over 5 years ago

Can you believe it has been seven years! I thought the market would be off for 6 months to a year. I am looking forward to better days!

Posted by Dinah Lee Griffey, Managing Broker Windermere Peninsula Properties (Windermere Peninsula Properties) over 5 years ago

Thanks for the update!!!

Posted by Cara Lam, Cara Lam, Gladewater National Bank (Gladewater National Bank, NMLS#1009328) over 5 years ago

Nice post.  I have posted some of the current highlights in regards to HARP loans on my website for anybody that wants a quick and easy summary of who is eligible and the basic guidelines.  You can find it by following this link http://www.danmoralez.com/2012/05/20/president-obamas-revamped-harp-refinance-program/.

Posted by Dan Moralez, Grand Rapids & Holland, Michigan Mortgage Lending (Northpointe Bank - NMLS #709729) over 5 years ago

I hope that the extension of this program will benefit many.  I know a lot of folks are still struggling.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) over 5 years ago

Hey there Lanre!  I tuned in because an Active Rain article came up in Google and THERE YOU WERE WITH A FEATURED POST!!   GOOD for YOU! Hope all is going well with you and family.  Blessings!

Posted by Diane Rice, SFR, SRES, CNC ( Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL) over 5 years ago

Lanre, CONGRATULATIONS ON FEATURED POST!!!!!!!!!!!!!!!!!!!!!!!!!

And thanks for passing on the information about HARP program extension.

Posted by Mary Yonkers, Erie/PA Real Estate Instructor (Alan Kells School of Real Estate/Howard Hanna Real Estate) over 5 years ago

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