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Obama Says, ‘Let’s Allow Everybody to Refinance’

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It was encouraging to hear that housing is solidly on the Obama Administration’s radar. The president confirmed this during a live online interview August 7th.

Of particular note were his comments about HARP 3, the proposed third version of the Home Affordable Refinance Program. HARP was first introduced in 2009 to help struggling homeowners reduce their mortgage payments by refinancing their government-secured loans (mortgages backed by Fannie Mae and Freddie Mac).

HARP 3 would make it easier for all homeowners, whether they have a government-secured loan or a private one, to refinance their mortgage.

Despite all the great news in housing (there’s plenty of it in the RE/MAX National Housing Report), the truth is that there are still many homeowners who are underwater or who haven’t regained all of the equity they lost during the recession. Most of the people this pertains to probably bought their homes at the peak of the market, when home values were inflated and interest rates were closer to 7 percent.

If homeowners were able to take advantage of the amazing interest rates right now (about 4.5 percent!), they’d be able to regain equity more quickly; they wouldn’t be paying as much interest at the same time that their home’s value is inching higher.

HARP 3 would be good for homeowners, for neighborhoods, for the housing market, and for the overall economy. And it’s especially good that there’s buy-in all the way at the top.

As President Obama noted, if more people are able to refinance their homes, they’re more likely to feel comfortable taking on something like a car loan. When consumer confidence is high, that’s when the economy is at its strongest.

If you think a HARP 3 program would be good for the United States, let your congressman or congresswoman know.

If you’re a homeowner who’s struggling, contact a RE/MAX All Pro Agent who can help you reach the best resolution.

The Antelope Valley; Labor, Lifestyle, & Los Angeles All Within Reach

The Antelope Valley; Labor, Lifestyle, & Los Angeles All Within Reach

The communities and local economy of the Antelope Valley are growing strong for a number of reasons, mainly affordability of housing. Antelope Valley residents enjoy a pleasing quality of life in

these family-oriented communities; there are just so many choices for recreation, shopping and dining right around the corner. It’s been said that within these communities, one may realize the American dream. Public safety, health care, transportation, education, and recreation are all important priorities within the following communities. The Antelope Valley offers a wide variety of family activities. From taking a stroll through Apollo Park, to hanging out in Downtown Lancaster.Movie theaters,shopping, weekly Farmer’s Market and Lancaster Performing Art Center are just the beginning in Downtown LancasterWhether you’re a current resident looking to relocate, or you’re looking to make the Antelope Valley your new home, you’ll find the information you need right here. Visit All Pro Agents online for more information about the communities within the Antelope Valley

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The Antelope Valley in CaliforniaUnited States, is located in northern Los Angeles Countyand the southeastern portion of Kern County, California, and constitutes the western tip of theMojave Desert. It is situated between the Tehachapi and the San Gabriel Mountains

The valley was named for the pronghorn antelopes that are said to have roamed there until being eliminated by hunters and bad weather in the 1880s.The principal cities in the Antelope Valley are Palmdale and Lancaster.