Informal studies suggest that a couple in every about three refinancing applications into the these claims try getting HARP finance
Now, the new Chairman will meet that have Val and you can Paul Keller who live for the Reno, Vegas and also actually benefitted on the refinancing change brand new Chairman revealed inside the October. The fresh Kellers have lived-in their house during the Reno for over fourteen many years. Their residence is worth $100,000, lower than they paid for it back to 1998 and less than just the $168,000 mortgage. While they owe lots more to their family than it is worthy of he has always been not able to refinance. However, to the , Valerie is actually watching the fresh new President on television and you may watched him mention the Government had worked with lenders to get rid of one burden to own responsible individuals. Val and you may Paul realized that these were only the sorts of borrower the fresh new President got intended to assist – they certainly were latest on their home loan and no later commission within the during the last six months, but nonetheless is incapable of rating refinancing for a long time.