April 28th, 2013 7:11 AM by Michael and Jill Kohler
A new bill will attempt to eliminate all upfront fees and appraisal costs for refinances, prohibit second-lien holders from unreasonably hindering refinances, and penalize mortgage insurers who refuse to transfer coverage to refinanced loans without due cause.
Today about 1.2 million homeowners have refinanced their loans thru HARP. The new revisions in the program may allow 2.5 to 3 million more homeowners to refinance.