Everwhere is walking distance if you have the time

[ClingingToHope]

AWEST "I have never been late on a payment and actually pay a little extra each month. Is this something that is going to help me?"

The adjusted HARP could help you. It depends on what entity "owns" your loan. I don't mean who sends you the bill or where you got the mortgage, but who owns it.

Most banks, once they complete a loan sell it right away. Where I live most of the loans are sold to Fannie Mae or Freddie Mac or to the FHA.

Obama's program only concerns loans owned or guaranteed by Fannie Mae or Freddie Mac.

For example, my (old) loan was taken out from a local bank. They sold the servicing rights to GMAC. GMAC sold the loan to Fannie Mae. GMAC is the servicer. Fannie Mae is the investor.

So you need to call your loan servicer (whoever sends you the bill) and ask if the loan is owned by Fannie Mae or Freddie Mac.

If it is a Fannie or Freddie loan, then ask them when and how can you take advantage of the HARP changes. The new rules for HARP go into effect mid November. If you haven't missed a payment and the loan was created before 2009 then you should qualify.