We passed a very depressing milestone on July 25th. That marked one year since Congress last considered legislation that would expand the Home Affordable Refinance Program. S.1373 – Rebuilding American Homeownership Act of 2013 (and all other HARP 3.0 related bills) have been sitting idle in the Banking, Housing, and Urban Affairs Committee for an entire year. Congress is completely unwilling to move HARP 3.0 forward, and FHFA Director Mel Watt is making no efforts to assist either. Mr. Watt is steadfastly refusing to make any changes to the program without the approval of Congress, even changes he is empowered to make. The current outlook for HARP 3.0 is bleak. It appears the Home Affordable Refinance Program is going to wind down until its date of December 31, 2015 with no more changes coming. There really isn’t much we can do at this point other that vote out all these scoundrels in the mid-term elections coming this fall.
The only new piece of HARP information I have to pass on is that the FHFA HARP outreach program is continuing on. The second in a series of townhall style meetings intended to reach homeowners still eligible for the program has been scheduled for Thursday, August 14 at 11 AM in Atlanta. If you live in Atlanta and would like to attend here is the address:
Ebenezer Baptist Church, Martin Luther King, Sr.
Community Resource Complex, Assembly Hall
101 Jackson Street, NE Atlanta, GA 30312
I would assume most people that read this blog know their HARP eligibility, but if you are uncertain please click one of the sponsor links/banners on this website for more information.