The Rise of HARP 3.0 [discussion]

[lisa]

do you have freddie?

[lisa]

yes you should contact your lender.

[Pat Gorman]

This is the question I am trying to get answered also; Daughter bought home in 7/09 so is not eligible for present HARP program, even though she is underwater presently & loan under Fannie May/Freddie Mac. There MUST be a solution to this situation somewhere.

[C. Ramm]

I refinanced with Chase in Oct 2010 using the HARP re-fi program. I just called to see if I can re-fi for an even lower interest rate and was told I could only take advantage of the HARP program once…didn’t know this when I refinanced or I might have waited. Do you agree with this and if so, will I be able to use HARP 3.0 if it goes through? In 2010 my home had plenty of equity…just got it reappraised and it has lost $65k equity in less than 2 years so even though I have great credit, I do not qualify for a conventional re-fi as I owe more on it now than it appraises for…FRUSTRATING! Hoping I can use the Harp 3.0

[TAdam]

I’m in the same boat with HSBC/Beneficial. They will not refinance and we’ve been denied a modification. Stuck at 9.5 percent! Ridiculous.

[Barbara]

Can a 2nd be combined with the first when refinancing on this new program HARP 3.0?

[Miriam]

I am being told I can’t qualify for HARP2 because I had another property which was short sold. I have always been current on this property and have a credit score over 620. The short sale was my only credit glitch. Is this true? One lender said I qaulify and my credit union says I don’t. Which is it?

[rallyx]

I have been trying to streamline refi an investment property serviced by greetree servicing through HARP 2 and was declined because they said I had more than 4 properties and they have an overlay that prohibits them from approving me for Harp 2. How much truth is in this? What are my options?

[Jeff Satterthwaite]

Was told I cannot get HARP due to paying an upfront premium so I would not have mortgage insurance. Is there a way around this or any mention of a resolve with HARP 3?

[Mere]

You cannot roll second mortgages into the harp program. You can do a conventional cash out and pay off your second mortgage.

[kevin coleman]

my home is own by freddie mae and cant get refinance because we own a moblie home that we not do harp 2.0 loan because we have a molbie home help help

[Bill]

Is you loan owned by D Bank?

[Sean L]

I don’t qualify because I refied in 2010, will they be extending the dates?

[Sean L]

Sounds like me, have you tried the refi program? They said I didn’t qualify because Fanni Mae took out insurance on my loan even though we had nothing to do with that.

[beeshu]

Same boat as well.

[Brent wright]

I refinanced in March of 2009. Harris bank and Fannie mae didn’t secure the loan until June. Now I’m not eligible because of that. Why did it take you 3 months to secure a loan. Talk about not doing your JOB

[candy]

HARP 3.0 is still sitting in the senate. And if I were you, I would stay VERY far away from PNC. I tried to do a HAMP with them 3 different times, and was denied each time. Then they offered me an “in-house” modification which added $14000 to my principle and an extra $500 per month to my mortgage payment. I tried to apply for HARP 3.0 and the best offer that they had for me would add $6600 to my principle and only save me $48 a month–Face it, the banks were all very eager to get our bailout, but since there were “no rules” attached to the bailout, the banks still hold all of the cards. As soon as I am able to, I plan to bail on PNC they’ve been so horrible! I really believe that they have nothing but a bunch of idiots running these programs–because each week when I call for a status update, I’m told something completely different than the week before. And are you aware that every bank gets a kickback from the fed govt for each “application” that they take in for HAMP or HARP? So the banks are still making money and not giving anything back to the taxpayers that let them keep running in the first place.

[Tara]

Yes…..

[S. Blue]

I’m curious. How did your qualify for Harp 2? I think you home was under appraised as was ours. I’ve been told we will qualify for Harp 3.

[Barbara]

Called for info about refinancing with HARP 2-loan owned by Freddie MAC, told my credit score was too low but HARP 3 might address this situation-is that correct information?

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