harp refinance: HARP 2.0, Will It Work For You?
- 02/21/12 05:19 AM
The highly anticipated revised Government refinance plan, HARP 2.0 is coming out next month. It is receiving a lot of attention but the big question is....will it work? The requirements have been lowered in many areas but it has yet to be seen if lenders will offer the terms the Government is asking them to. Participation in the program is voluntary for lenders and each will put their own "overlays" over the requirements. Overlays are additional requirements that lenders put in place to lessen their risk. Lender specific guidelines are due out in early March. The main benefit of HARP 2.0 … (2 comments)
The highly anticipated revised Government refinance plan, HARP 2.0 is coming out next month. It is receiving a lot of attention but the big question is....will it work? The requirements have been lowered in many areas but it has yet to be seen if lenders will offer the terms the Government is asking them to. Participation in the program is voluntary for lenders and each will put their own "overlays" over the requirements. Overlays are additional requirements that lenders put in place to lessen their risk. Lender specific guidelines are due out in early March.
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