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Thread: New federal refinance program

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    New federal refinance program

    Does anyone know the official government site it for the new refinance program, called HARP2? None of my searches find it and the "making home affordable" site still talks only about the old program. I feel quite stupid, both for my own ineptitude and as a representative of the public-sector workers who somehow didn't make an obvious website.

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    Senior Member ChesBay's Avatar
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    Quote Originally Posted by Random View Post
    Does anyone know the official government site it for the new refinance program, called HARP2? None of my searches find it and the "making home affordable" site still talks only about the old program. I feel quite stupid, both for my own ineptitude and as a representative of the public-sector workers who somehow didn't make an obvious website.
    I'm seeing a good bit of info putting "Harp 2" ( no quotes in search) into google chrome search.

    http://harp-mortgage.com/?ctt_adid=9...FcHb4AodsBkeXA

    http://www.fhfa.gov/webfiles/22723/H...dA%20Final.pdf

  3. #3
    I hit this thread when I searched on harp.
    I called Chase yesterday to look into refi in order to handle avalanche of student loans come due for my daughter - just to get monthly payment down.
    The guy I spoke to immediately mentioned Harp and gave me the impression there are new eligibility standards that might be to my benefit. My mortgage is not under water although I'm very concerned about equity level. I refinanced in 2009 and I'll be very surprised if home value has held steady - I guess I'll know soon enough.
    I'm waiting to hear back from Chase now.
    I will try to come back with updates if the information might help anyone here.
    2.5 % would be very nice.
    Later.

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    Senior Member DaleB's Avatar
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    Interesting bit of info:

    At the CU Board meeting today, the NCUA presented their reports on the coming national rate hikes, and how best to position our CU's business to handle this well, as the NCUA is being prep'd by national finance leadership to expect quick and sharp increases in lending rates, over the short and medium terms.
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    Dale, can you tell me more about the "coming national rate hikes." I hadn't heard anything about that. Have you a timeline?

  6. #6
    Quote Originally Posted by DaleB View Post
    Interesting bit of info:

    At the CU Board meeting today, the NCUA presented their reports on the coming national rate hikes, and how best to position our CU's business to handle this well, as the NCUA is being prep'd by national finance leadership to expect quick and sharp increases in lending rates, over the short and medium terms.
    I have read the fed is going to keep short term interest rates at the current level till unemployment reaches 6.5%

    http://money.cnn.com/2012/12/14/news...ent/index.html

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    Senior Member DaleB's Avatar
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    Quote Originally Posted by t8burst View Post
    I have read the fed is going to keep short term interest rates at the current level till unemployment reaches 6.5%

    http://money.cnn.com/2012/12/14/news...ent/index.html
    That's interesting. I wonder if the public, via CNN, or we Board members, via NCUA, are receiving the accurate information?!

    Needless to say, NCUA is prepping it's member credit unions to position their business for upcoming rate hikes. That's all I know, for 100% certain. Is it going to happen? Don't know. I'm not very attentive to the bond market, these days. (Since, afaik, its the bond market the Fed has to respond to, primarily, when setting rates, not unemployment.)
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