I?ve been down on most of the programs the government has attempted to turn the housing market around and quite honestly, I didn?t think that HARP 2.0 would be any different from all the other dismal failures.
But Mortgage News Daily reports that HARP refinancing continues to surge and that high LTV (loan to value) share has skyrocketed.
?It appears that the changes made to the HARP program, removing the 125 percent LTV ceiling, reducing and/or eliminating some fees, and easing lender risk, have worked.? The program revisions were announced last fall but did not really begin to roll out until early this year.?
Certainly with the record low mortgage rates available today, that?s good news for homeowners who couldn?t refinance because they were underwater on their loans. By reducing their monthly payment, borrowers have the ability to make an optional?larger payment toward principal reduction and get back to an equity postition sooner.
we bought a zoo ipad accessories port charlotte florida kit homes boxing day radio shack bethany hamilton
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.