HARP 2.0 Update: Big News the 4 Largest Lenders Support the Plan
Caroline Ashe Your Source in Augusta, GA Real Estate November 4th, 2011
HARP or the Home Affordable Refinance Program announced last month it’s gaining support from the nations largest lenders Bank of America, Chase, Citigroup and Wells Fargo.
This is big news as the participation in the HARP program is voluntary. Fannie Mae and Freddie Mac will roll out the complete guidelines by November 15th for the banks to review and start their implementation process. Due to each of the lenders processes being different and needing to get the program’s operational items and information to the local mortgage lenders the ultimate timing for each lender is unknown. But in a statement Bank of America said they hope to be taking application for the HARP program by December 1st.
This is an update to my recent blog post - Recently Announced Home Affordable Refinancing Program – my 2 cents!
The questions are many and it’s important to help educate yourself and homeowners that this will help so be sure to spread the word and share this post with your friends, family and co workers. I will be happy to answer any questions that come up.
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