New Harp Mortgage Program Guidelines [discussion]

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  • October 25, 2011 at 3:56 pm #2334

    Program Columnist
    Moderator

    HARP Mortgage Program guidelines outlined with the announcement of the HARP 2.0.

    [See the full post at: New Harp Mortgage Program Guidelines]

    November 9, 2011 at 2:53 pm #2335

    Jacqueline Rack

    When can I apply and how do I start?

    November 9, 2011 at 3:25 pm #2336

    Susan Salvaggio

    I’m interested in refinancing my mortgage to lower my payment to help us out. thanks, Sue

    November 9, 2011 at 3:49 pm #2337

    John Rossini

    Looking to refi. Purchased house in 2008 and refinanced in Dec 2009. Does this mean I exceeded the July 2009 cut-off for this program? I owe on my mortgage approx $20-$30,000 more than my house is valued at. Would love to take advantage of this program. Please send me more info!!

    November 9, 2011 at 9:22 pm #2338

    Sonia

    Did they lower the price of the refi? BOA tried to charge me 10,000 bucks just to lower my payment by less than 200 bucks per month. They wanted to charge me points and it seemed like a RIP OFF.

    November 10, 2011 at 3:08 am #2339

    katyh

    can a home equity loan and first mortgage be refinanced together

    November 10, 2011 at 6:44 am #2340

    William Cunningham

    Please tell what the requirements for refinancing my current Fannit Mae Loan.

    Thanks,
    William Cunningham

    November 10, 2011 at 11:20 am #2341

    Kenneth

    WHEN WILL THIS GO INTO EFFECT?

    November 11, 2011 at 10:20 am #2342

    jill

    Does it matter if my single family home is on 12 acres? It is owned by Freddie. My appraisal is 470K and loan is 380K. I am moving from primary res to investment prop and re-fi a 5/1 ARM. Thanks.

    November 11, 2011 at 11:45 am #2343

    Sueh

    They need to come out with a program to help everyone whose home is valued less than the balance on their mortgage and not just loans owned by Fannie or Freddie

    November 11, 2011 at 6:38 pm #2344

    RUKiddingMe

    First, allowing people to refi above 25% negative equity and growing? That’s just wrong!

    Second, if this is just a GREAT deal, then why is there still a CAP 5/31/09 on the age of the loans.

    November 12, 2011 at 8:22 am #2345

    Clarice

    We are wanting to Refinance but, have a conventional loan. My husband does qualify for VA benefits. I was hoping HARP could help but, not having an Fannie Mae or Freddy Mac loan prevents us from doing this. Is there anyone that can help us. In 40 years we haven’t had as much as a late payment! Please Help Us.

    Clarice & Joe

    November 12, 2011 at 3:14 pm #2346

    Jamie

    can a home equity loan and first mortgage be refinaced together

    November 12, 2011 at 4:33 pm #2347

    Steve Kass

    Does the harp program apply to second home mortgage?

    November 12, 2011 at 6:20 pm #2348

    Mary

    Does your current loan still have to be from Fanny Mae or Fanny Mac or can it be from another leneder?

    November 13, 2011 at 6:45 pm #2349

    russell

    I refinanced my house 2 1/2 yrs ago,with a home equity loan fixed at 6.25 .I still owe 85,000 my house is only valued at 49,000. Have a 820 score. Can I refinance,under Harp

    November 13, 2011 at 8:33 pm #2350

    Mike Holoka

    I would like yo know when this takes effect.

    November 14, 2011 at 2:58 pm #2351

    David Rubinstein

    Hi Katyh,
    No you can not combine your first and equity line into 1 new mortgage but you are able to refinance your current 1st mortgage and keep open your equity line, considering your equity line lender allows this. Please email with any questions. Thanks.

    November 14, 2011 at 3:14 pm #2352

    John

    What alternatives are there for loans not owned Fannie Mae and Freddie Mac?

    November 14, 2011 at 3:18 pm #2353

    kelly

    Dodd- Frank states there must be an interior inpsection appraisal on these typs of loans, so to utulize a AVM would be illegal!

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