HARP- Now With Something for Everyone?

Just this morning new, and in fact quite positive, changes to HARP were announced. Up until now I've allowed myself only cautious optimism about the extension of HARP, but I really think this initiative could now be headed in the right direction.

Among other things, the possibility that unemployed and underemployed borrowers may be struggling, is finally being addressed with more flexible debt to income criteria. In addition, eligibility could be extended to investor-owned rental properties.

How does this help me you ask? If you are one of the lucky ones who need not consider taking advantage of HARP, there could still be an enormous up-side for you. Your neighbors may have an option other than short sale or foreclosure which would go a long way toward leaving your property values intact.

One small note of caution, the renewed HARP program has not taken effect yet and we can never be certain of what is included until it does. However, I’ve had that 1960’s Beatles song “Getting Better All the Time” running through my head all morning.

A little perc for our Military

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