Comments on: HARP 2.0 applications to officially begin December 1st https://www.governmentrefinanceassistance.com/the-homeowner-affordability-and-stability-plan/harp-2-0-applications-to-officially-begin-december-1st/ Information and Updates on Government Mortgage Programs Mon, 01 Oct 2012 05:27:51 +0000 hourly 1 https://wordpress.org/?v=6.2.2 By: RDRay https://www.governmentrefinanceassistance.com/the-homeowner-affordability-and-stability-plan/harp-2-0-applications-to-officially-begin-december-1st/#comment-45974 Fri, 02 Dec 2011 02:15:54 +0000 http://www.governmentrefinanceassistance.com/?p=1780#comment-45974 Why does HARP 2.0 not apply to 2nd mortgages on a home that is underwater?

If a unit appraised at $465K prior to the housing bubble now valued at <$200K, with a combined outstanding mortgage of $334K, why can't a mtge company under HARP blend the two rates on the $334K at a reasonable rate and restructure the two loans into one. Under this formula the financier does not lose anything, in fact they gain. Help us understand the "illogic", aside from the willingness to ignore those who continue to pay on what they now deem as undervalued property?

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