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LouiseI am now told by BOA that although I fit all the criteria for the Harp 2 program – I do not qualify because I had a no closing cost loan originally. I approached Wells Fargo and they said I do not qualify because they can only re-write their own loans at the moment. I think BOA is doing everything they can to prevent people who are current with their mortgage to get a rate adjustment. Nowhere in the guidelines do I see that if you had no closing costs that you will not qualify – Can someone please clarify this???
RayThis makes ZERO sense. When was your original loan recorded? What is the current rate?
RayThis is unfortunately true for now. I have seen many homeowners fall into this scenario. You will potentially be elig for Harp 3.0
louiseRecorded in 2008, owned by Freddie Mac @6.375% – I think is is bull*****
LouiseRecorded in 2008 and owned by freddie mac – BOA say that because there was no employment verification or fees paid I am not eligable. Work that one out……..
ToddEmail me, I can look into this further for you and give you the correct explanation. What you have been told does not make sense. You may not be eligible, but it shouldn’t have anything to do with no fees paid last time. I am a loan officer at BofA.
ToddWho is your current mortgage with?
GlennYou may want to check out CitiMortgage. They just started a new HAR Program January 1 to help people whose loan had pooled PMI without their knowledge and had never paid any PMI.
Dilcia RamirezI have my mortgage currently with Popular Bank of Puerto Rico, and my morgage start before May 2009, but is owned by Wells Fargo will I be eligible for HARP 3?
ChrisI checked them and they were worthless. I have over an 800 credit score and have been paying on my mortgage for over 7 years on auto deposit so nothing is late. I have no second mortgage. My mortgage amount is $180k and unfortunately they value my home only at $212k. Because my mortgage was purchased by them instead of originated by them. They say I do not qualify for HARP. I paid $255 for my home in its hay day of inflated mortgage values putting $50,000 cash down. The responsible thing to do right? Wrong. I lost $93K in value. Do I qualfy for a refinance? Only if I pay $5000 in closing costs and pay my house down to a 80% Loan to value or $169.6K. So I would have to come out of pocket $42.4k for a 1.88% reduction in my loan rate. It’s insane. I’d save what $200/Mo for a 15 year loan. They are all thieves.
DanI e-mailed Chase to re-fi under HARP in early January. Owe $266k, worth about $220k, no missed payments. Got a form letter saying I didn’t qualify. I replied back via e-mail. A few weeks later, about two weeks ago, got a call saying I do qualify. Offering 4.8% via HARP, but 4.1% for “regular” re-fis. Also, want me to pay a (small) fee for that rate.
annyes, i have had some late payments due to the fact that i am financially strapped at this payment. was told by “harp” and “mha” that i did not qualify! what / where can i go ? help
the Homeowner’s HOPE™ Hotline 1-888-995-HOPE (4673)
C JI purchased my home 16 years ago and we made due never buying a “better” house I choked down extra mortgage payments by working sixty hour weeks 31 weekends a year.owe 30k worth 150k Money in 401k college funds (so I get to pay full boat tuition) So much for following the rules. Would I trade places? HELL NO
PeteYour 5/1 arm will most likely go down in rate.
LewisWill the eligibility date for a HARP refinance ever be extended past May 31, 2009? I missed the cut off date by 60 days. Thanks
tomI have LPMI and was offered 4.375 for 15 years. Not sure all of the details yet. I have a 108%ltv, coming off a 6.625 30 year. Loan is ownd by freddie, serviced by bmo harris, refi through harris
MikeI presently have a 6.124% condo loan. I have previously filled out all the paperwork for WCS lending and thought i would get approval for a 3.8% but their loan officer had a problem with my condo to apartment percentages in the development. Not sure what that means but my developer/property company could not provide the information. No i’m trying to work with a SunTrust agent wrt the HARP 3.0 program but he says “the software for the new HARP will not be available until end of March 2012”.
Any advice?
HeidiI have LPMI and was told by my lender I do not qualify. Loan is owned by Freddie My question is who is doing the loans with LPMI ?
RogerI owe $2000,000.00 with Chase always been chase ; No Freddie of Fannie just called Chase they still are not working with HARP 3.0
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