http://harpprogram.org/ You'll see three titles on this main page: ARE YOU A RESPONSIBLE HOMEOWNER? NEED HELP? THERE IS A GOVERNMENT STIMULUS PROGRAM FOR YOU! Note that "NEED HELP?" and "THERE IS A GOVERNMENT STIMULUS PROGRAM FOR YOU!" are linked. But there is no link for "ARE YOU A RESPONSIBLE HOMEOWNER". I really find that really ironic.
Horrible looking site. Looks like a joke. Anyway, that is a contradiction. A responsible homeowner makes payments and doesn't need "stimulus." They also read and understand the terms of their mortgage and decide if they can afford it...beforehand!
Actually it looks like it is for responsible homeowners. If someone got locked into a rate at 6.5% a few years ago, this program just reduces their interest rate to todays rate which I think is around 4.75%. They dont get their mortgage reduced, they just get a new lower interest rate. So if they had a mortgage for 250k at 6.5%, then with the new rate they are paying $364 less per month in payments. Makes sense to do this for people that are underwater a little bit as it makes them less likely to walk away from their home if their mortgage payment is the same as a rent payment. I mean if rents are $1200 per month and your mortgage is $1550 per month and you are underwater by $50k or so, you are likely to walk away and go rent and save yourself some money every month. But if you are paying $1200 mortgage and rents are the same price, you probably wont care as much if you are underwater because its not like you are going to save money by moving, and everyone knows rents eventually will go up and your mortgage wont.
who is making the difference for lender between 4.75 and 6.5? i guess it's me.. got the mortgage @ wrong rate? no problem...got the house @ wrong price? not problem...shit..what a country..i paid cash for my house.. no debt-no problem, better sleep...i guess that's wrong? hey! i got the stock @ wrong price! where is my bailout?
IQ Description % of Population 130+ Very superior 2.2% 120-129 Superior 6.7% 110-119 High average 16.1% 90-109 Average 50% 80-89 Low average 16.1% 70-79 Borderline 6.7% Below 70 Extremely low 2.2% So 75% of the population have an Avg. IQ, OR BELOW. 100 is Avg. I know all this is very rough psychometry, but there's so many concepts you and I can easily grasp, but the vast majority of the US population just can't, no matter what they, or we, do. Most here could decide to learn Italian, knowing it will require work, but we could get it done. About 45% of Americans just can't do it. They just don't have the brain power. Most Americans have no business wasting their time attending college. To say that all a house buyer needs do is read and understand all the paper work involved in a mortgage is delusional. Many citizens simply cannot. Shill websites take advantage of this fact.