Harp 3???

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simigal

LoanSafe Member
Jul 6, 2012
9
0
1
Anyone know or understand if The proposed harp 3 will help underwater mortgages owned by mortgage backed securities?
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Hello simigal,

Yes HARP 3 is supposed to assist homeowners without mortgage backed by Fannie Mae or Freddie Mac but I do not have much details on the program. You may want to try contacting a member here by the name of Erik Sandstrom, he has been working on HARP since it first established and he knows all the ins-n-outs of the program. You can find his information in the following thread:

http://www.loansafe.org/forum/harp-mortgage-loan-program/48113-harp-3-a.html
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,113
182
63
San Diego, California
www.loansreduced.com
Hi Simigal,
The HARP 3 program has not been announced yet and I'm not sure when the release date is. The rumor is that it will help all underwater borrowers even outside of Fannie Mae & Freddie Mac and allow them to participate in the HARP program.

As soon as I hear news about the release of the program I will be writing about it to educate all of our very valuable LoanSafe members so keep checking back in this section of the forum for updated news about the program.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Awesome Erik that's exactly what I had thought!
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,113
182
63
San Diego, California
www.loansreduced.com
Awesome Erik that's exactly what I had thought!
Always here to help! If I hear of any news what so ever I will announce it immediately.

The HARP Program has recently been extended I believe until April of 2014, that's one thing I will mention shortly I just have to confirm its validity.
 

kforan

LoanSafe Member
Sep 11, 2012
1
0
0
Wait for Harp 3?

Awesome Erik that's exactly what I had thought!
Interesting to find this site. I am a non-Freddi/Fannie borrower (Wells Fargo). I have found an opportunity to refi and reduce from 6.875/7.25 (first/heq) to 4%. BUT - must pay $11,000 upfront PMI and some other standard closing costs (Title Ins, etc).

If I was a gambling man I'd say wait out the Harp 3 opportunity.....but I'm also somewhat realistic and say "the bird in the hand.....".

What do you think? Wait for the possibility of Harp 3 or consider $11,000 a small investment to refi (fyi - the savings of the rate reduction will repay the $11,000 within one year). I would just hate to pay and then three weeks from now, Harp 3 goes through......

Thanks.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
What do you think? Wait for the possibility of Harp 3 or consider $11,000 a small investment to refi (fyi - the savings of the rate reduction will repay the $11,000 within one year). I would just hate to pay and then three weeks from now, Harp 3 goes through......
Welcome kforan and thanks for joining the forum.

That sounds like a great offer is you can save that amount in as little as a year. It usually takes people 2+ years at least to recover the amount spent closing the refi and saving money. However, personally if it were myself I would give it a few weeks (if it is even established by then) to see what this program has to offer.. If you have the money for the traditional refinance I do not see this offer disappearing within the next couple of months..
 

jhn_plsn

LoanSafe Member
Apr 29, 2008
357
6
18
Riverside, Ca
Can't even report this guy to moderators.

This is spam. Remove the troll.
 
Last edited by a moderator:

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
Can't even report this guy to moderators.

This is spam. Remove the troll.
Thanks Jhn plsn!

There is a little "caution" symbol on the left hand side of each post where it allows you to report a post to the moderators. If you can not find the link, try using the contact us button at the bottom of the page and we will make sure we delete these spammers immediately! Thanks for the concerns and we appreciate the heads up!
 

jhn_plsn

LoanSafe Member
Apr 29, 2008
357
6
18
Riverside, Ca
Thanks Jhn plsn!

There is a little "caution" symbol on the left hand side of each post where it allows you to report a post to the moderators. If you can not find the link, try using the contact us button at the bottom of the page and we will make sure we delete these spammers immediately! Thanks for the concerns and we appreciate the heads up!
When clicking on the report or cation button I get a message stating I cannot post for 600000 seconds.
 

Evan Bedard

Call 1-800-779-4547
Loan Safe Mortgage
Aug 26, 2007
18,837
48
48
San Diego, California
www.LoanSafe.org
That is strange and I will make sure we look into this asap. You guys are referring to the little "caution symbol" button at the bottom-left of each post right?
 

RexMorgan

LoanSafe Member
Jan 25, 2013
56
0
0
That is strange and I will make sure we look into this asap. You guys are referring to the little "caution symbol" button at the bottom-left of each post right?
I think so (it's been a while). Also the Report button on a post's drop down menu on the iPhone app. I'll try it again when I see some spam and report back here.