Re HARP Programs

The fact that you did a modification should have no bearing on your eligibility for the HARP 2 program. The only item that would hinder your ability to close on the HARP 2 program would be if your modification included deferment of principal. From your question, it seems this is not the case as only your interest rate was lowered. Feel free to call me at 602-820-0881 to discuss in more detail and see how much savings you can see. I can also be reached via fernando@wjbonline.com

Loan Mod's and HARP refi's are 2 different things... when a loan is modified, they usually do not have you sign a new Deed of Trust.. so you should still qualify for the HARP refi.. (I'm actually doing one right now similar to your scenario)... the key is that when your loan was modified, that they didn't do a principal reduction.. if they did, then most lenders won't touch them.. if not then you should be ok.. you should give me a call, and we can discuss your scenario in detail... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Unfortunately, we don't know when HARP 3.0 will be made official (if ever). Nor do we know who will qualify for HARP 3.0 when it's passed.There is talk that the program will be offered to borrowers who currently do not have their loan serviced by Fannie Mae or Freddie Mac.

It is my understanding that if you've received a loan modification on the property you're trying to refinance under HARP you are not eligible for the program under open access.

Yes, you can do that but if you may run into problems if you were late at all on your payments before the loan mod.

There are overlays not allowing the HARp with a previous modification. With us, so long as you do not have the late payment history within the last 11 months, or the modification did anything to the balance of the loan. You can only do it if the modification was simply an interest rate reduction.

It depends if your loan mod had a new mortgage recorded or not

You should still qualify for the Harp Program. Call William from Velocity

Wells Fargo will not refinance a loan they modified. Contact a local broker for assistance. A modification has not changed your ability to get a HARP refinance. While HARP 3 legislation has been introduced, it does not yet exist. www.HARP3-Refinance.com

I would call William Acres ASAP he owns Arizona, as far as mortgages go....480-287-5714 WilliamAcres.com