Petition to White House to Help More Homeowners Refinance

Dear Clients, Colleagues and Affiliates,

Many of you have been denied access to the HARP government refinance program for one reason or another. The most common reason is your current loan is owned by Fannie Mae or Freddie Mac, BUT your loan was originated after May 30^th, 2009. This arbitrary date has kept responsible borrowers and homeowners from refinancing in order to significantly reduce their interest rate and monthly payment.

 

I ask each of you, whether you have already benefited from refinancing your home or not, to do the right thing and simply sign this petition allowing other responsible homeowners the opportunity to restructure their residential property mortgage(s) and not be denied because of an arbitrary date. Changing this restriction will help homeowners reduce their monthly outflow, raise household discretionary income and stimulate the economy.  Go to SeeWhatHappens.

Respectfully,

Tom Drasler

we petition the obama administration to:

Make a formal request to the FHFA to eliminate the securitization cutoff date for HARP eligibility and allow re-HARPing

Under the Home Affordable Refinance Program (HARP) The Director of The Federal Housing Finance Agency has authority to extend or eliminate the eligibility cutoff date. Currently the date is set as 5/31/09. Many responsible home owners are unable to take advantage of the program to reduce their mortgage rates because of this date. On 3/17/12 HARP was revamped (HARP 2.0) and home owners were given the power to shop for the best rates. However, those who previously refinanced under the original program are not eligible because of the the arbitrary cutoff date and 1 time use limit set by FHFA Director Edward DeMarco. Eliminating the cutoff date and allowing home owners a 2nd chance to refinance under HARP 2.0 would help millions of Americans to save money on their monthly mortgage payment.