Underwater Homeowners Neglected in State of the Union Address Rally Support for HARP 3.0 Petition

Advocacy website makeharp3happen.com launches new petition to bring attention to lack of progress on expanding the Home Affordable Refinance Program.

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Frustrated by the failure of the White House Administration, Congress, the FHFA, and other policy makers to make much needed changes to HARP, underwater homeowners are rallying to support the HARP 3.0 Count Up Clock Petition.

Clementon, NJ (PRWEB) February 04, 2014

In response to President Obama omitting any mention of new refinance opportunities for underwater homeowners from his 2014 State of The Union Address, makeharp3happen.com has launched a new “We the People” Whitehouse.gov petition calling for the administration to install a HARP 3.0 Count Up Clock in The White House Entrance Hall to remind the President, Congress, and other policy makers of their failure to expand the Home Affordable Refinance Program (HARP).

HARP was first introduced in 2009 in response to the financial banking crisis. It was designed to allow refinance opportunities for some underwater homeowners. In 2011 changes were made to expand the program resulting in HARP 2.0. To date nearly 3 million homeowners have refinanced using HARP. Although the real estate market has been recovering, it is estimated that more than 12 million homeowners still owe more on their mortgages than their homes are worth. The President began a push for expanding HARP further during the 2012 State of The Union Address. The President continued pushing for expanded refinancing opportunities in his 2013 State of the Union Address when he stated:

“Too many families who have never missed a payment and want to refinance are being told no. That's holding our entire economy back, and we need to fix it. Right now, there's a bill in this Congress that would give every responsible homeowner in America the chance to save $3,000 a year by refinancing at today's rates."

Given the omission from the 2014 State of The Union Address, it appears that the President has given up the fight for expanding HARP. More than two years have passed since the first proposals of HARP 3.0 were introduced. Policy makers have made virtually no progress in implementing changes to HARP in that time. Frustrated by the failure of the White House Administration, Congress, the FHFA, and other policy makers to make much needed changes to HARP, underwater homeowners are rallying to support the HARP 3.0 Count Up Clock Petition. To view the petition in its entirety, go to http://wh.gov/lNIIm

Makeharp3happen.com was formed by underwater homeowner Marcus John in January 2013 to advocate for the expansion of the Home Affordable Refinance Program. As of January 2014 the website traffic has grown to receive more than 30,000 page views per month. Hundreds of comments have been left on makeharp3happen.com by underwater homeowners who wish to detail their struggles.

For additional information, contact: marcus(at)makeharp3happen(dot)com or visit http://makeharp3happen.com.


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