You’ve probably heard about HARP, or the Homeowner Affordable Refinance Program, a federal initiative designed to provide underwater mortgage help to homeowners with Fannie Mae or Freddie Mac loans refinance with lower payments and more stable (or fixed) terms. But what you may not know is that last year, President Obama announced some pretty significant changes to the HARP program. We’re calling it HARP 2.0.

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In order to get additional money, several owners may have traded his or her investment properties and dwellings, providing owner funding and therefore are collecting money for their mortgage loan note. If the regular drip of capital is not enough, they look to find other choices. A mortgage loan note purchaser tends to buy mortgage notes for domestic and/or industrial buildings, cashing out the present note holder. This deal is usually much quicker compared to other options plus will involve no money cost pertaining to settlement costs.

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