Millions of American homeowners who are underwater on their home loans could financially benefit by allowing them the opportunity to refinance their home loans to today’s low interest rates.
There is a federal government program called the Home Affordable Refinance Program (HARP) to help such homeowners, but it has unnecessary red-tape.
Specifically, under Federal Housing Finance Agency (FHFA) guidelines current loans are only eligible to refinance under the HARP if they were closed on or before May 31, 2009.
Of course, many homeowners entered into loans or refinanced their loans after May 31, 2009 at interest rates that are sharply higher than the rates that exist today.
Please sign this Petition asking President Obama to eliminate the red-tape in the HARP.