Make Harp 3.0 Happen

Advocating for The Expansion of the Home Affordable Refinance Program

Month – November 2013

HARP 2.NO! – Tell Your Story

I soon will launch a new feature on that will highlight the struggles of folks that do not currently qualify for the Home Affordable Refinance Program. If you have been denied refinancing under HARP 2.0 and are desperately hoping for HARP 3.0 to rectify your situation then I want to hear from you. I want to post your story on this site. This is your chance to be heard. If you would like to participate here is what you have to do. Comment on this post with your name and your email address and indicate your willingness to participate. I’ll create a profile for you on with contributor posting privileges. Once you can login to the site click the “Posts” tab on the left, then click “Add New”. Compose a 500-1000 word post describing your situation. Include as much of the following as you can:


  • Why you can’t use HARP now
  • Struggles caused by not being able to HARP
  • Why you need HARP 3.0. How much it could save/help you. Include some details on your mortgage. What are the terms? Do you also have a second mortgage?
  • Road blocks you’ve encountered such as your mortgage servicer, politicians, etc. Don’t be shy. I expect vitriol. Be pissed off.
  • At least some personal info. First name and city and state at a minimum. If you want to include contact info and dare your mortgage servicer or a certain politician to contact you then have at it. Bonus points and reweets if you include your Twitter handle.

The plan is to publish 1 new story each week. The best written ones will go to the front of the line. Have fun with it. As always, thank you for your support.


Breaking HARP 3.0 News: Path to FHFA Directorship Cleared for Mel Watt as Senate Goes Nuclear

Senator Majority Leader Harry Reid imposed the “Nuclear Option” today to break the filibustering by Republicans on cloture of presidential nominees. The “Nuclear Option” is essentially a rule change that requires a simple majority to confirm judicial and executive nominees instead of a super majority. It now takes just 51 votes instead of 60 for confirmation. The controlling party, in this case the democrats, can now confirm the president’s nominations without any bipartisan support. This appears to clear the way for Mel Watt to become Director of the Federal Housing Finance Agency. Watt was blocked from confirmation on October 31, 2013 when cloture was denied by a vote of 56-42. If Majority Leader Harry Reid calls for cloture again on Mel Watt’s FHFA nomination it would this time require just 51 votes. This could have a big impact on the HARP program. The FHFA oversees HARP and has authority to make some modifications to the program.


HARP 3.0 Update: The Real Truth

I do a lot of searching online for information on the HARP program, HARP 3.0, and Underwater Homeowners. It saddens me the lack of true information people get. A Google search for “HARP 3.0″ yields 694,000 results. The vast majority are links to sites backed by mortgage industry professionals that declare that HARP 3.0 is coming. The information they are providing is either stale or highly speculative. These sites are more concerned about selling you on their services than they are about providing quality information. If you want the real scoop you need to come to So without further ado, here is the real truth on the status of HARP 3. There has been no significant headway made this entire year toward rolling out a new version of HARP. Here is a recap of the status of HARP 3.0:


  • Two pieces of HARP legislation were introduced this year. H.R. 736 and S. 249, both dubbed The Responsible Homeowner Refinancing Act of 2013, were introduced in their respective chambers of Congress back in February. Neither have made it past committee. This legislation has been idle for more than 8 months, and given the gridlock within this Congress there is little likelihood that they will be passed.
  • President Obama nominated Representative Mel Watt to take over as Director of the FHFA in Late April. Mr. Watt is much more open to making changes to the HARP program that would benefit Underwater Homeowners than acting director Ed DeMarco. Watt was seen as a long shot of being confirmed due to Republican opposition. Republicans hold enough votes in the Senate to block the nomination. The Senate dragged their feet most of the Summer before finally Senate Majority Leader Harry Reid pushed for a cloture vote on October 31st. Cloture was denied by a vote of 56-42 meaning more of the status quo from the FHFA.


Republicans Block Confirmation of Mel Watt as FHFA Director

President Obama’s nomination of Mel Watt as Director of the Federal Housing Finance Agency fell 4 votes shy of the 60 votes needed to push a Senate confirmation vote. The vote took place on Thursday, October 31st. Only two Republican Senators broke ranks, Richard Burr of North Carolina and Rob Portman of Ohio. Acting FHFA Director Ed DeMarco will remain in charge for the foreseeable future. This does note end Watt’s nomination. Senate Majority Leader Harry Reid could still push for an up/down confirmation vote at a later date. However time is running out. If Mel Watt is not confirmed soon he will likely pull himself from consideration and instead concentrate on a reelection bid next year for his seat in the House of Representatives.

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