Important changes to the Home Affordable Refinance Program (HARP)
By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
The Senate passed an amendment to an appropriation bill that would restore the $729,750 loan limits through December 2013. Both Senate and House are now working out the differences between the Senate bill and the House bill, which the House passed earlier this year. However, it did not reinstate the higher loan limits. There would be a 2 year extension on the conforming loan limits if the House and Senate agree on a final bill. The California Association of Realtors is also working with the California Congressional Delegation to ensure this provision is included in the final bill. There's also changes coming down the road to help distressed borrowers. Late October, the Federal Housing Finance Agency (FHFA) announced important changes to the Home Affordable Refinance Program (HARP) to...
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