Fra Noi Embrace Your Inner Italian
Well, Fannie Mae and Freddie Mac promised the world and delivered far, far less. Finally released in March, the Home Affordability Refinance Program (HARP) was supposed to facilitate refinancing among borrowers who are “underwater” (when the home is worth less than the outstanding mortgage). What we are seeing is that, unless you can walk on water, it will be hard to qualify for these loans. Fannie Mae and Freddie Mac have said that they will purchase these loans from banks, but not all banks are welcoming the program with open arms. Banks are saying that these loans are risky and …
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