According to the Bank of America Merrill Lynch analysts, during the month of December, prepayments slowed and dropped by 6%. According to an analyst of Bank of America Merrill Lynch, they expected an uneventful month in January and February is to provide the first quick look into the prospects of HARP. There are rumors that the White House is going to launch another program in order to promote more refinancing.

According to an analyst at JPMorgan Chase, modifying all coupon stacks of mortgage-backed securities would violate the prospectus. For such an action, the loans need to be at the risk of default. As per the analyst, if a refinancing wave on GSE loans is started by the White House and everything is to be moved into a 4% mortgage, it would only give annual savings for borrowers of around $25 billion to $30 billion. He further added that this would only be a transfer of wealth from investors to borrowers – also that compared with overall economy, the dollar savings of such a move would be small. Theoretically, HARP 2.0 is going to resolve issues of many refinancing hurdles.

If you want any help in a short sale, Short sales in New Castle, you can  seek help and education from me which is necessary to make educated  decisions. If you would like a free PRIVATE consultation please email me  at homes4keep@yahoo.com. – Pearl