New Refinance Program to Help More Floridians
During a recent gathering of real estate professionals, hosted by University of Miami Law School, discussions were centered on the long list of government initiatives aimed at fixing the housing market. The Home Affordable Modification Program, for example, has had a very minimal impact in Florida.
New initiatives, like the revamped Home Affordable Refinance Program is aimed at addressing some of the shortcomings of past efforts. The new HARP, announced last week by President Obama, will open up the government refinance initiative to people who owe significantly more on their mortgages than their properties are worth.