What is HARP? And is it a good tool? Or is it a scam?

What are you talking about? Please make your question more clear with a better description possibly linking to articles or something to give a point of reference or context.

Done. I was hoping for answers from someone who has looked further into it. It’s some sort of government refinancing thing for your home.

It was set-up for persons “underwater” (their home has a market value less than the mortgage balance). It allows you to re-finance with less paperwork than other re-finance instruments.

Not a scam. I used HARP in 2008 when I was underwater; it was great. Saved a bundle on my refi.

Whether it makes sense NOW – that’s another question, and one that’s based on your specific situation.

We aren’t underwater on our house. We only owe $38,000 and it’s worth about $80. I just want to get it paid off!! NOW!!!!

Double up on payments; if your mortgage is due on the 12th then pay on the 12th full mortgage amount and on the 26th full mortgage amount.

@Dutchess_III “What is HARP? And is it a good tool? Or is it a scam?”

Does the US Government run scams?

https://en.wikipedia.org/wiki/Home_Affordable_Refinance_Program

If the refinancing is cheaper overall then switch and continue to pay the higher current repayments if you wish to pay the loan off earlier.

@Pinguidchance I think the first requirement is that the owners are “underwater”.

Right @Tropical_Willie. And we aren’t underwater.