Tag Archives: underwater homeowner

Progress Update on HARP 2.0


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As mentioned on a previous post, Refinance Your Underwater Home with HARP 2.0, I indicated that I would provide an update on my progress as well as what other underwater homeowners are experiencing now that the new guidelines have been updated.

My mortgage was previously owned by Bank of America for several years and just late last year my mortgage was sold to M&T Bank.  I had contacted M&T Bank early in March, just as HARP suggests to find out if they participate in the program.  I was told to call back mid-March which is when M&T Bank said they would have HARP system up and rolling.

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Obama Refinance Plan Makes It Easier To Refinance Underwater Homes


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In an attempt to help more borrowers refinance their underwater home, President Obama has developed a plan to make it easier for homeowners to refinance their equity challenged home.  The plan is to help “responsible” homeowners who’s mortgage loans do not meet HARP guidelines refinance and  obtain lower interest rates.  The proposed Obama Refinance Plan is to save thousands of dollars for homeowners on their mortgage payment which will allow them to be in a more comfortable payment and perhaps spend more to help boost the economy.

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