HARP II

Initial Thoughts-
I'm one of the hard-hit homeowners in Arizona. Being able to refinance into a lower rate mortgage, even if I have to drop it to a 20 year loan, will save me thousands of dollars in interest payments. I'm not looking for a principal reduction. I'm not looking for a temporary fix. I like my house, I don't want to move. I am one of the responsible buyers- sure, we bought at the top of the market, but we didn't finance 100% of the house- we put down a large down payment. We make our payments on time every month. If the bank really wants me to stay in my house, make it attractive to do so. Otherwise, I walk, and they have yet another foreclosure/short sale on their hands in a flooded marketplace. 

So, banks, get your acts together, and start making refinancing a possibility for people like me. We exist. We are hanging on to our sanity by a thread. Our patience is wearing thin however. We will walk out on our loans if nothing is done.