HARP Mortgage Requirements [discussion]

[gill]

WE HAD 2nd mortgage on our home can we qualify for HARP

[Val]

B of A sold my loan to M & T bank 11/11. I am 2yrs since ch 7 discharge and M&T said I can’t get the HARP 2.0 program, wait 3-4 years for refinance. Im not going to give up on my refinance, im going to check with other lenders. I am not happy with M&T bank. I think B of A did this because they knew this would happen!

[Lucy Valles]

I gues no one knows Laura??? Frustrating! I really want to take advantage of this program, but no one seems to be able to answer me, Wells Fargo says NO, but I don’t believe them, I need help! Anyone?

[Gina]

I was just told by Green Tree that there are no financial institutions in DC that can originate HARP loans. This doesn’t make sense to me. Has anyone gone through HARP in DC?

[Paul]

My loan is not insured by Freddy or Fanny. What other programs can I qualify for.

[Austin]

I totally agree with you. B of A sold mine to M&T Bank as well. I have been up on everything, yet I have a “pool insurance” which disqualifies me from anything. I did go through Quiken Loans and got approved for a 20 yr fixed, have not decided on it yet. I will do it but I was told by M&T to wait a month because Freddie Mac is going to do a waiver or something like that. I don’t know, just keep pecking at it! Good Luck, seriously it will turn out ok!

[austin]

I am reading these comments, came across yours. I hope everything turned out ok for you all, no excuse you can’e get help, especially now. GMAC does do the HARP 2.0 if your loan originated from then. Good Luck, I hope you all are well and your Husband’s income jumped back up, along with the refi….you all would JAM!

[Thorsten]

john / Im concerned with my inmcoe. I’ve made all my payments and have an 800 credit score. My wife and I are self employed and don’t show allot of inmcoe. Are there provisions inHARP 2 that address this situation?

[Ron]

Have you looked into HAMP instead of HARP?

Home Affordable Modification Program

[Lyn]

When will the HARP guidelines extend the fannie mae purchase date. My loan was purchased by Fannie Mae on June 5th of 2009. I have missed the original deadline by five days and really need to refi. Please advise if they will extend the sold/or guaranteed date from May 31, 2009. thank you very much

[LPMI / HARP 2.0Question]

I have an underwater mortgage with excellent payment history and very good credit. I have the Lender Paid Mortgage Insurance (LPMI). I am told by my lender that since I have LPMI, I am not eligible for a Harp 2.0 refinance. Could any one please clarify if that is correct?
Thanks

[K.C.]

The answer to your FAQ set forth below is at worst contradictory and at best confusing:

Q: If I refinanced on or after June 1, 2009 am I eligible for HARP 2.0?

A: No. If the existing loan was not acquired by Fannie Mae before June 1, 2009, it is ineligible for HARP 2.0. In March 2011, the initial cutoff date of March 1, 2009, was extended by three months to June 1, 2009, and this revised deadline is still in effect.

At first you state a loan acquired by FM/FM on or after June 1, 2009 is not eligible for HARP 2.0. However, at the end of the answer you state the deadline “was extended by 3 months to June 1, 2009. . . .” If the original cutoff date was March 1, 2009 and 3 months were added it appears June 1 could be in the target date.

Thanks,

K.C.

[Frank]

My current mortgage is a Balloon loan. I have contacted a few banks to refinance it using HARP (as we are underwater). From what I have read I should be eligible. However, I have been told that my loan is not eligible for HARP since it has not reached its maturity date.

Is this true? Does anyone know if HARP 3.0 will address this issue? I really hate paying an extra $200 a month for nothing.

Thanks for your time.

[Bela]

No, the HARP loans are only for loans held by Fannie or Freddie. Yours is a Jumbo loan and wouldn’t have been acquired.

[Steve]

Merrill Lynch Credit Corp intiated my loan in April of 2007, it was then sold to FannieMae one year later, BofA acquirred Merrill in 2008.
They are saying that I am not eligible for the Harp Program but other Banks say I am. What is the deal with BofA.

[Gary Medina]

Frank,

Did you ever get the help you needed to refinance under the Harp?
Not sure what you mean by maturity date but the only thing that is needed is that your loan was originated prior to May 31st, 2009.

Can I help you with any other questions or concerns?

[Gary Medina]

Yes, you can get refinanced under the Harp program with MI. What ever your current MI payment is monthly will continue as the same, just with a lower interest rate/payment.

[Katie]

Can my lender require me to open a checking account with them according to the HARP program?

[Author]

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