Make Harp 3.0 Happen

Advocating for The Expansion of the Home Affordable Refinance Program

Month – April 2013

Petition to Implement Merkley Mortgage in all States with Allocated Hardest Hit Funds

I keep getting asked if I will start a new petition. Well, here it is.

http://www.change.org/petitions/u-s-treasury-and-state-housing-agencies-that-disperse-hardest-hit-funds-help-underwater-homeowners-by-implementing-the-merkley-mortgage

I can’t put nearly the effort in this one as I did the last. So it is up to all of you to make this happen. Here are the details:

U.S. Treasury and State Housing Agencies that disperse Hardest Hit Funds: Help Underwater Homeowners by Implementing the Merkley Mortgage

Refinancing can save thousands of dollars per month and prevent foreclosures for families underwater on their home loans. Millions of Americans are underwater and are unfortunately not eligible for existing programs such as HARP. The Rebuilding American Homeownership Assistance Pilot Project (aka. The Merkley Mortgage) expands on HARP by allowing people with non-Fannie and Freddie held loans to refinance. It would also allow refinancing for people that have been disqualified due to the arbitrary securitization cut-off date set by the FHFA.

And this is the letter/email that will be delivered:

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To:
The President of the United States
The U.S. Senate
Your Governor
Sen. Jeff Merkley, OR
U.S. Treasury
Florida Housing Finance Corporation
Indiana Housing & Community Development Authority
alabama housing finance authority
Arizona Department of Housing
California Housing Finance Agency
Georgia Housing and Finance Authority
Illinois Housing Development Authority
Kentucky Housing Corporation
Michigan State Housing Development Authority
Mississippi Home Corporation
Nevada Affordable Housing Assistance Corporation
New Jersey Housing and Mortgage Finance Agency
North Carolina Housing Finance Agency
Ohio Housing Finance Agency
Oregon Department of Housing and Community Services
South Carolina State Housing and Development Authority
Tennessee Housing Development Agency
District of Columbia Housing Finance Agency

Millions of underwater homeowners stand to benefit by refinancing. Unfortunately, many are not eligible for the current programs such as HARP. Senator Merkley of Oregon has advanced the Rebuilding American Homeownership (RAH) plan using the U.S. Treasury TARP “Hardest Hit Funds” to serve as a more inclusive underwater refinance plan. The Merkley plan would equally benefit those with GSE backed loans and non-Fannie and non-Freddie backed loans . The plan is currently being piloted in Oregon’s Multnomah County. The RAH Pilot Program could serve as the template for assisting underwater homeowners in need of refinancing in your state. Please implement RAH using your allocated “Hardest Hit Funds”.

Sincerely,
[Your name]

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