There is a major overhaul of the failed Home Affordable Refinance Program (HARP) on the horizon. President Obama announced last week that new guidelines would make it easier for homeowners who have shown an ability to maintain their mortgage payments on a timely manner, will be able to refinance at today's lower interest rates. The major difference is the ability to refinance without an appraisal. This has been the stumbling block for most of America. With the removal of the appraisal, and by easing off the risk based pricing hit's, as well as removing some of the warranty and restrictions thrown at lenders for loans they didn't create originally, will make this program very successful. This is great news... the program is due to discontinue December 31st, 2013. So if you don't qualify now, it's very likely you can put yourself in a position to take advantage of this program before it ends. Get with a local mortgage broker, NOT A BANK, and start your application. Once the program opens up, there will be a flood of applicants so be patient and be prepared. WilliamAcres.com