HARP 3.0 has been a lingering dream for many for quite sometime now. The rocket scientists in Congress have managed to add a few more co-sponsors, all from the same party and none from mine. This is a bit unsettling because the HARP program is really not a hand out or something the GOP should fear. But enough of the soap box. I wanted to give some updates to HARP on some of small changes that could make a big difference if you are in the group it affects.
HARP 2.0 has some definite rules that are set in stone, one such rule is the date that Fannie Mae or Freddie Mac has set is now earlier that he purchase date of Fannie or Freddie. This could make the difference for those that “just missed it” as far as the HARP program deadline is concerned.
Another change is the rule on previous bankruptcy dates and the time that has to elapse before a new loan can happen.