Legislators and other government officials are currently discussing ways to extend or modify the HARP 2.0 program. It was originally scheduled to end in 2013, and has been extended to 2014. There is no telling when or if any revisions may make it through the lengthy debate and approval process, and in the meantime, you could be saving money with the existing Home Affordable Refinance Program. The only possible reason to wait for HARP 3.0 is if your loan is not controlled by Fannie Mae or Freddie Mac, however you’d still be better off finding out what refi options are out there for you now, while the rates are so low.
Don’t wait. Get started on the process to refinancing your mortgage.