Home Forums Article Discussions New Harp Mortgage Program Guidelines [discussion]

This topic contains 892 replies, has 2 voices, and was last updated by  P. Chun 4 years, 6 months ago.

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    Bernie Herron

    Have a convenional fixed rate loan with chase at 7,12% and would like to refinance my loan…I am currently underwater and want to get my payments down…How do I go about applying for the HARP program



    No FHA (government loans) are not allowed.



    Whomever the primary applicant will be must have a credit score of at least 660.



    Contact chase and ask them about their HARP application process.


    From the new guideline released from both Fannie Mae & Freddie Mac the minimum credit score was 620.


    Chargers Fan

    If you are happy with Chase I would agree but you are not obligated to refinance through your lender. Also different lenders have different timelines of when they will have this program implemented. Something to take in to consideration if rates start to rise.



    I’ve noticed the biggest misconception about HARP loans is you have to use your current lender. being in the business I can tell you that is simply not true. use any one u prefer.



    The news report I heard on major network stated the new program would be available 12/1/2011.



    I filed bankruptcy 2.5 years ago. All of my mortgage payments have been paid on time, but am underwater. Does the bankruptcy exclude me from a HARP?


    kashim butler

    I am currently up to date on my mortgage but the appraisal value of my house is about 100k less than what my current principle is on my loan. Will this program be able to restructure my principal to what the appraisal value of my house is?


    JR Reyes

    Can mortgage brokers originate the harp program?



    Yes there is a limit. You can only refi on the HARP program once.



    My wife and I have been trying to refinance using the harp program for about a year now. We currently have a conventional loan with BoA with built in PMI. BoA said we’re not qualified for the harp program because we have a insurance attached to my loan. The HARP program does not have such specification, this is left to the banks’ discretion(big mistake). This is their only reason for our disqualification, i don’t understand why BoA does not want to help it’s customers that are struggling to make ends meet. You just feel so helpless when these big banks like BoA are making hundreds of millions in profit and still can’t be fair to it’s customers.



    We were told by our mortgage lienholder, Chase, that we weren’t elligble for a HARP refinance loan because our mortgage insurance was paid in advance by our lender. Will the new rules change this stumbling block?


    Is your loan with Fannie Mae or Freddie Mac and what date was it purchased?


    maureen andeson

    have small balance on first mtg. 14,000.00 at 5.75% interest. Have home equity loan for 40,000.00. What can I do to re-finance first mtg and how would I go about getting help with home equity loan which is current prime rate. I only pay the interest on the home equity loan now.Also who i seek out to help me in this situation. thanks Maureen



    I have a Freddie Mac loan, 5/07, with MIP. B of A says no because of MIP. What banks in Al are partici[pating even with lender paid MIP?



    Are there any refi programs for people in the following predicament:

    Good credit.
    Stable long term jobs.
    NO Fannie Mae or Freddie Mac.
    Upside down $50,000 on house.

    We have been told “No” LITERALLY over 20 times.

    If you know of a company that will refi us, please e mail me, dac6902 at yahoo dot com



    Mortgage brokers can originate the HARP program. What state are you in?



    Yes. You may be eligible after 3 years from your BK discharge date, however.

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