Forgotten Your Password?

Need to Register?

Question Icon

You have updated this article as of 12/22/14, but how current is it really? Is there any real possibility of HARP 3.0 in 2015?

by astroboy1053739 from Levittown, New York. Dec 30th 2014 Reply

Barb Lanis (BarbLanis)
#70 ranked lender in Illinois - 663 contributions

It's unlikely that there will be a HARP 3.0 in the future. There is waning interest to expand the program. There are plenty of borrowers that are left out in the cold, such as 1) Those loans that were not backed by Fannie or Freddie, 2) Those who already used HARP 2.0, and 3) Those loans that had "credit enhancements." However, Fannie and Freddie have both recently announced expanded refinance programs allowing for higher LTV's on refinances up to 97% on owner occupied properties. It's not as good as HARP (which expires end of 2015), but better than nothing. There are too many guidelines to post here. Hope this helps!

Dec 30th 2014
Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,837 contributions

Although no one really knows for sure, I would bet all the money in the world that it will NOT happen. HARP and HARP 2.0 were rolled out as the economy faltered. Most parts of the country have either fully recovered from the value crash or have nearly done so. Because the issue of underwater homeowners no longer impacts a significant number of people, it is extremely doubtful that anything will come to pass. The biggest reason is this... HARP and HARP 2.0 were ONLY for Fannie Mae and Freddie Mac loans. As these previously private firms fell into Government receivership, the government had a vested interest in finding a way to stem the flood of foreclosures. They rationalized that since they were already on the hook for the loan, if they could lower the interest rate for the borrower and prevent the foreclosure, they were better off. The idea of HARP 3.0 was to do the same thing for non-Freddie/Fannie loans. The problem is that these are owned by different banks and investors and pension funds, etc. They do not see the same issue. If you were going to let it go into foreclosure, you would have done so by now. So why should the lower their interest income just to make your payment lower. You're going to keep paying or as I said, you would have already turned it in. I hope I am wrong, but I just don't see it happening. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in Arizona (AZLO0911876 / AZBK0902429), Washington (WALO40586 / WACL3087) and California (CADOC40586 / CAFLL6036566). We are licensed by the CA-DBO under the CFLL and CRMLA. Loans made or arranged pursuant to CFLL or CRMLA license. ~ ~ 888-889-9950

Dec 30th 2014
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,072 contributions

At this point, it is highly doubtful there will be a HARP 3. There is little interest from the politicians, but the bigger reason is that values for most people have come back to around 10% below the peak of the market. Therefore they are able to move into current loans without having the need for any special programs. Unfortunately, this still leaves some people unable to refinance. For HARP loans in MN, WI, and SD, visit

Dec 31st 2014
Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

Earlier this year Mel Watt said they have no plans of doing HARP 3. This is horrible news since there are so many who could benefit.

Jan 4th 2015
Subscribe to our news feed.