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    Bought our home in April 2010 and would really like to refinance with the Obama (HARP) but called and was told that I didn’t qualify because it had to be before 2009. We fell on hard times due to
    my husband changing jobs and paycheck deduction. Please if anyone knows anything please help.



    I have a jumbo mortgage and owned or backed by Fannie Mae (I checked their website look up). Is this still mean that I am not qualified to refi under HARP 2.0 because of my jumbo mortgage? I don’t understand because Fannie owned my loan and I bought my house 2007. I applied at Wells Fargo and all they said was I was not eligible for some reason. According to the person I dealt with at Wells Fargo I met all the requirements and I have an excellent credit score. Still they didn’t know why I was not eligible.
    Or is this because I tried to apply the HAMP before? But I was not qualified with that either according to BOA. BOA flatly turned me down. I don’t understand with all this help from the government.



    I bought a condo for $123,000 in 2007 at 6.875%. It is backed by Fannie Mae. Since then its value has deprecated with many people around foreclosing or having short sales. I have made good on my mortgage and have never missed a payment on anything in my life! When I heard of this new program I was delighted that I could finally do something about it, and not have to ruin my credit as many of my neighbors have done.
    I began the refinance process at the end of March with Maverick Funding, after going through it all on June 12th I was told that I couldn’t qualify because my appraisal had came back with a value of $60,000.
    As advised I then began to try it through my current lender which is Sovereign Bank. We went through the whole process yet again, I got an appraisal again, this time it came back at $58,000. Fanny Mae is now saying I am not eligible due to my loan to value.
    I was under the impression that this Harp 2.0 program is for someone that is making good on their mortgage but find the value deprecating around them. Am I wrong?
    It seems to me that I am stuck between a rock and a hard place because I really don’t want to ruin my credit but it seems as though the banks would rather see me walk away from this mortgage than to let me refinance at a better rate. Any advice?



    Go to a Mortgage lawyer that deals with this.



    I have a mortgage that at the time my husband and I refinanced in 2010 for a lower rate. We have since been divorced and I cannot refinance it because it is underwater and also because we refinanced in after 2009. Luckily he is not pushing the refi and I can maintain the payments. I feel there has to be something I can do to get his name off the mortgage for his peace of mind.

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