DSNwes reports that Bank of America, Chase, Citigroup and Wells Fargo have agrred to participate in the new HARP program. This program, expected to be rolled out in FEB or MARCH will allow homeowners with Freddie Mac or Fannie Nae backed mortagges to refinance. The good news about this program is that there are few restrictions, except that the homeowner has to be current on their payments or only missed one (but not in the past 6 months).

This could be great news for many distressed homeowners but keep in mind that this is a government program and we all know how HAMP and HAFA started out. Hopefully it won’t take the government and the lenders a couple of years to streamline this program!

Read the full article here http://bit.ly/uUpkmL

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