Make Harp 3.0 Happen

Advocating for The Expansion of the Home Affordable Refinance Program

HARP 3.0 Bill Tracker

This page includes widgets that track all HARP 3.0 related Congressional Bills.







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45 Comments

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  1. Plain and simple if you don’t work and on welfare you can get help with a mortgage but for most of us working people that have underwater loans help is not available.Congress could have done something about this but all they do is talk and collect their money.I have a convential loan at a high interest rate of 8.90 plus the house is underwater .I’m 75 yrs old not in good health but still working and have been since I was 16 yrs old I pay my taxes and have never even drawn an unemployment check but without somekind of help (HARP 3 )WE WILL PROBABLY LOOSE OUR HOME THIS YEAR

    1. I do not work currently and I have no way of refinancing. No program works for me since they all require income. I don’t qualify for HARP2, I can’t refinance the regular way because no income, and bank loan modification also doesn’t work because they say I can’t pay my bills even though I have been paying them since 2005, my wives income is also no good because she is not on loan.

  2. There should be a bill “No homeowner left behind”. We’re still hoping Harp3 passes, but we all know the banks run this country (& pharma), so why would they want to help?

  3. Time is running out. As I did my bills this month, I realized I will be almost $300 short next month. I have been trying to get my private mortgage co. to work with me for 2 years to no avail. Everything is going up, my salary is not and it is getting impossible to make it. Why bother working? The poor will get help, the rich it doesn’t matter, but us hardworking middle class are totally screwed. My loan is at 6.1, about $10,000 underwater, not owned by Fannie Mae or Freddie Mac. I still have good credit, (but not for long) and if I could just refinance at a lower rate, I could save a few hundred a month. I don’t understand why we can’t get help. Harp 3 must happen SOON or I will have give up and will lose my home.

  4. Thanks for the info on current related proposed legislation to help advance home REFINANCE reform. I have written countless letters re: S1373 and will now do the same on S249 and HR736. S1373 has been sitting in committee since July 25, 2013! When I called the Senate Committee on Banking, Housing, and Urban Affairs, a young woman suggested that I consider contacting lobbyists who support mortgage refinance reform – do you know if there is such an animal?

    1. Shari, that actually isn’t a bad idea. The most supportive lobbyist groups would be in the mortgage industry. Not so much because they care that this would help people. But they do really want to keep their refi business flowing. I’ve had some individual mortgage professionals support the makeharp3happen petitions, but nothing from any strong lobbying group. I was trying to court mortgage broker associations. I’ll see what I can dig up and post some information on some lobbying groups.

  5. Note that HR736 and S249 only help homeowners with mortgages backed by Fannie Mae or Freddie Mac. S1373 helps those NOT backed by Fannie or Freddie.

  6. Its been three years that I have tried to refi and consolidate 1st and 2nd. I have a 6.125 mortgage and to see myself paying just about double of the people who had Fannie or Freddie loans made feel bad and cost me a lot of money because the current program is only for Fannie or Freddie. We who are not with them count also, and are being discriminated against because who the loan / mortgagor is. I am waiting for the HARP 3 , but maybe by the time it comes, will be too late for all of us on conventional loans and the interest will be 7 or 8 percent. WE NEED HARP 3 NOW!

  7. I have been waiting about 7 years to be able to refinance. Non Fannie Mae/Freddie Mac loan. I have a first mortgage rate of 6.5% and a second of 14% interest only. Monthly mortgage is roughly $3,300. My home is about $103,000 under water. Is it true that Republicans are blocking any kind of support of this program that the President is trying to provide. I do not like politics. It would be nice to have a mortgage which actually reduces in principal.

  8. I have been hoping for Harp 3. My home is underwater by about 100K. Being able to refi at a lower rate would make a such a difference. When I asked my bank about a refi, the person laughed and told me they were in the business of making money. If nothing else, I would love to take my business elsewhere, an option I don’t even have today.

  9. Im really tired of paying my bills on time and still getting the shaft in the form of an almost 8% interest rate. HARP 3.0 is the only way. I signed the count up clock. Ive written my Reps. I don’t know what else to do.

    1. ! Banks have no incentive to help because we are paying up unlike those who can’t pay. We are being penalized as a class. Lets try to file a class action suit!
      We also need to appeal to president Obama, Clinton, Biden, Michelle , Elizabeth warren and Pelosi!

  10. I’m almost 150k underwater, non- Fannie or Freddie, paying 1st and 2nd on time, 1st – 6.375% (INTEREST ONLY) and 2nd – 7.75%, but can’t get any help from current mortgage holder. My mortgage company said, if I was behind 2 or 3 months on my payments, they could possibly help me! Very tempting to simply stop paying, but that’s not my make-up, besides both mine and my wife’s employment requires “good-excellent” credit scores. I come to believe Congress is not “for the People”, but for themselves!!! HARP 3.0 is not the total solution to the economy, but it would certainly help the majority of people who’s spending and taxes help keep this country moving forward!

    1. Keith, Your situation sounds identical to mine. Its like we’re penalized for paying our bills and maintain a good credit!

    2. We are in the same boat! They don’t care as long as they get the extra money. I want to organize to file a class action suit but I am too busy working to stay afloat and trying to create other sources of income! This is why banks choose to keep our interest higher than everyone elses!
      Does anyone have time to take this on!

  11. I have been a home owner for last 7 years and bought at almost peak. Never been late or ever missed a utility bill let alone a mortgage payment. But we all who pay our bills are getting punished for paying them as if you miss payments they call you to help you pay and refinance and even forego some of the principal. But you if work like me/pay your mortgage on time/pay everything you owe in good faith… we have no help and nothing for us. That is what 3 different banks told me frankly including Citi/BoA/Quicken Loans.
    Please pass Harp 3.0 and help us who never missed a payment even at highest interest rates possible even with A grade credit rating (740+ FICO)
    Thanks.

    1. In the exact same boat as you, although I was forced to turn it into a rental property in 2009. Have been renting it since and it is costing me (after what I receive in rent) $6000 property tax, $1200 landlord’s insurance policy every year, plus the annual damage/upkeep.

      I was an idiot for not letting it go from the start because all my extra cash flow goes towards this property. All I really need is a refi to get the monthly payments near to what I receive in rent. But, only the bottom feeders get bailed out.

  12. We have an ARM that on June 1st, the principal of $600 will be added on monthly. Also have a second at 10%. We need Harp3 NOW……

  13. Please pass the HARP 3, I am paying $800 more a month than those who have Freddie and Fannie. I pay my bills but have nothing left afterwards. When we retire in 5 years we won’t have enough money to pay this large mortgage and will have to let our house go into foreclosure. Originally we got an ARM before the housing crisis with the full intention of refinancing after 3 years. That’s what the mortgage company said we could do and then the bottom fell out of the housing market and we’re stuck bad!!!It’s not fair that only some American’s are helped, what about the rest of us?

    1. Insensitive Politicians and greedy private private mortgage lenders only care about themselves- not people like you and I. They also contributed to the near collapse of our country. People who didn’t deserve to get rescued got all types of tax dollars! The citizens on this board got nothing! Discrimination pure and simple!

  14. We are anxiously awaiting help from HARP 3, but losing hope. Like so many others, we feel like we are being punished for being responsible. We have never been late on a payment, have good credit, and a good income. And yet, we are not eligible for a lower interest rate. Meanwhile, if we had overextended ourselves on a home we couldn’t afford, the bank would work with us. It’s completely backwards. We have a non Freddie/Fannie, so we are out of luck. It’s tempting to walk away like so many others.

    1. You and I can’t walk away because we are different! We find a way when there is no way! That is why they don’t care! We have got to come up with a plan that doesn’t include following the herd of those who had to give up! That’s what the lenders want you to do so they can sell your house in the underground market. After all they already got paid when they sold your mortgage during the mortgage melt down!

      We need a class action suit!

    1. We need to be realistic! Dreaming won’t help us! We need to convene and do something! Does anyone out there have the know how to help organize under the legislators and a lawyer? We could pool our money. Can’t just sit around waiting for a handout! We deserve concessions like everyone else.

      ! Banks have no incentive to help because we are paying up unlike those who can’t pay. We are being penalized as a class. Lets try to file a class action suit!
      We also need to appeal to president Obama, Clinton, Biden, Michelle , Elizabeth warren and Pelosi! like everyone else!

  15. I’m sad to see so many people in this “no help” situation. I thought we were one of the few, looks like we have lots of company. Through a loan from a 401k plan, we are finally caught up on past due payments and have now been on-time for 2 months. Dying to see HARP 3.0 pass so we might have some chance of help by the end of this year. Although our 5.75% first and 6.75% second is not as high as some others here, it would mean hundreds of dollars in savings each month if we could just refinance to a current rate!!! Keeping my fingers crossed we hear something soon!

  16. I also like many of you have a mortgage loan where I am paying a higher interest rate because I was locked into a 3 year no refinance term a year before the housing crash and since have not been able to refinance because our home value is not high enough nor has sufficient equity and it is not a Fannie Mae or Freddie Mac loan. Our loan was initially FHA and was sold by Wells Fargo to another bank which bought out another bank and then merged with another and so on, and because of this we ended up with a non-Fannie Mae/Freddie Mac loan which actually got bought out by a German bank and is now with Ocwen. It would be great if more states like Oregon adopt their own programs to help those of us who are diligent about making their mortgage payments. I do feel that people who have good credit and make payments on time should be rewarded with a simple, easier refinancing process. However I don’t feel that we are being “punished” – I understand the feeling, but realistically this is happening because money was allocated to a certain sector of the American population instead of being more fairly distributed and I’m sure it’s primarily political/finance/corporate motivations that caused people who don’t have the Fannie Mae/Freddie Mac loans to be left out out of the HARP program. So maybe we can band together somehow with the help of lobbyists as someone suggested.

    1. Lets do it!
      I need to go to my second job now.
      Let’s get the ball rolling!

      Stay blessed and let’s not be quiet anymore!

  17. My husband and I have a 5 yr ARM with an adjustable and BAYVIEW refuses to listen to us, help us or acknowledge our problem. The rep told me that my priority should be paying my mortgage? REALLY??? We are currently $178,800 underwater, not with Fannie Mae or Freddie Mac and have been advised that we need to be 2-3 months delinquent to qualify for help. I find is so frustrating that these agencies are more concerned about their wellbeing than helping homeowners. The Bayview rep advised me that they WILL approve a shortsale but they won’t offer any other assistance. Wouldn’t you think that helping a homeowner to stay in the home would be more cost effective than having them walk out? I don’t understand their way of thinking and I’m not sure they do?

  18. Thanks for continuing the fight. I have been underwater for over 7 years and am desperately in need of Harp 3.0. It’s a shame that hard working people that pay there bills on time can’t receive any assistance.

  19. Like so many others, I bought my house near the peak of the housing market, intending to refinance a few years down the road. Now I am underwater, stuck with high interest non-Freddie/Fannie mortgages (7.25% Interest Only and 9.25%). And the only apparent way out of it is to stop trying so hard to pay my bills on time, so that I can qualify for a hardship program like HAMP.

    I am curious as to what the percentage of mortgages are that are Freddie/Fannie backed verses non-Freddie/Fannie.

    Why won’t they pass Harp 3.0? Why aren’t more people screaming for this? This site has just 91 likes on Facebook as of today. It seems like nobody knows about Harp 3.0 and what it could do for them. How do we spread the word?

  20. My mortgage is underwater. The loan is conventional. We urgently needs HARP 3. Please do something for us, the working people.

  21. I am like the other postings! I have been underwater since 2009. I have sent emails to my representatives in the senate and the house and none of my representatives in Washington will even respond to me. I pay my bills on time and actually have great credit, but I am stuck in a house and mortgage that is costing me way too much money each month. HARP 3 would be such a relief for me as well as many others. Why does congress not want to pass this program!

    1. Like everyone here I have made my payments on time for a home that is probably 40,000 underwater. Harp 3.0 would greatly help us. Why keep trying to get people to do 2.0 when it is apparent that you have come to the end of that program.

  22. We purchased our home in 2006 at the height before the “bubble” burst. We are currently around $80,000 underwater. I can not understand why the responsible homeowners are not getting help. Why is HARP 3.0 not being passed? Why is that only the homeowners who are backed by Fannie and Freddie are being helped, how can they penalize us just because our mortgages are not back backed by Freddie/Fannie? I have never been late on a payment not sure why I am trying so hard….

  23. Has there been anything new on the HARP 3.0 front. I really need to refinance being over $60,000 under water. This mortgage is a handicap, and really need to lower that payment. I’ve never missed a payment, but it’s making it really hard to afford the rest of life.

  24. My house is under the water and I do not qualify for HARP 2 because I have a private mortgage. Any news on HARP 3 Bill?

  25. I’m becoming obsessed with this HARP 3.0. It’s my only saving grace for my “under water” property. Does anyone have any recent updates? My HELOC payment will almost triple soon on top of my depreciated property. I have excellent credit, yet came seem to get any financial assistance, so frustrating!!

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