Am I able to do a HARP 2 refinance with my status?

Hello Joe,Sounds like you qualify for any standard home loan refinance program, HARP program is an ideal product for people who have lost equity on their property and are currently upside down. I do have some questions about your your employment length and also need to know if you have already filed your taxes or not. for more information please contact Houtan Hormozian @ 310-933-4748 or Houtan.Hormozian@Crestico.com for a free, no obligation consulting.

Joe, HARP 2.0 does not specifically require a certain level of income in order to qualify but it's possible the lenders will be skittish of the new self-employed status. The tough part is you won't know until your file is in front of the Underwriter. Any guess prior to that are just guesses. You might also want to try your current lender - Fannie Mae allows them to manually underwrite your loan and it's possible they might be more favorable to your employment status. If you'd like to ask more questions feel free to email me at mmullin@theloanconsultant.com. We've done a lot of these HARP loans and they are all unique.

Hey Joe... There is a lot of information missing, but based on what your scenario is, you would benefit from the HARP 2.0 program. The problem is that the program doesn't really kick in until mid March... under the new HARP program, you do have to be employed and receiving income, however debt to income ratios won't be considered... so if you work for McDonalds for minimum wage, or self employed making 100K a year, you would still qualify... Keep in mind; this is the guidelines from HARP 2.0... But HARP 2.0 does not lend money... they are only insuring loan products against default.. The lenders who have the money to lend will have their own guidelines, policies and procedures.. And right now, we don't know what those will be. Best advice I can give you is to contact a local mortgage broker, not a bank, and apply with them... even though the program isn't in effect yet, you can still get in line and be one of the first ones submitted when the program does open up... Your broker will be able to decipher the programs intricate details and guide you to the right lender offering the best product for your particular scenario.. WilliamAcres.com

Your current loan-to-value (LTV) ratio must be greater than 80% inorder to qualify for HARP, based on your numbers you are at <68%.You will need to contact me to discuss your options. al@theloanguys.net

<76%*

Joe it definitely appears that you do. Sounds like you have done a lot. Of homework . Contact me at 562 987 2184 to discuss in detail and a no obligation consultation. Regards Dan

Hi JoeBecause you less than 80% of the current value of your home you would not qualify for the HARP 2.0, but you may qualify for other loan programs.I hope this was helpfull. Have great day.

I use to own 9 house in the Corona/Riverside area. Your house might not be worth what you think. Until you get an appraisal you wont know. A mortgage broker in your area should be able to help you one way or the other.

In reading the above answers you may get the feeling that no one really knows. The answers are all over the board. That's because all of the rules have not been made by the money changers (the banks) As William said, even though HARP 2.0 rules have been mostly laid out, the banks will write their own "Overlays" that are more restrictive. One of the other issues is since it appears you are NOT upside down, lenders may not consider you a candidate for HARP 2.0 requiring you to qualify like everyone else. The fact that you are self employed should not disqualify you from HARP. It may make it harder if your equity makes you HARP ineligible. Keeping current on your mortgage is a plus. Will you have to disclose other assets, like investments? I haven't heard definitively, but don't be surprised if the answer becomes yes. Can you have too many assets or investments? I don't think so. I think your biggest hurdle is qualifying with equity. Be patient. We are only 45 days or so from the launch. In this case, you will definitely want to work with a local Mortgage Banker/Broker rather than one of the big banks. A Mortgage Broker/Banker has many lenders/investors to select from whereas a bank has only its own set of rules. Plus, it is likely the banks are going to be more overwhelmed than they already are. In many cases banks are taking 60-90 days to close some fairly simple loans and Mortgage Bankers/Brokers are doing them in less than 30 days. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Joe, As a direct lender and set up the HARP 2.0 loans, we would be VERY Pleased to help you with your refinance loan. we need to confirm some of your information. My processor and underwriter said to get the application in and they will personally walk tit through. As soon as you are ready, please call me at 623-340-0934 or If you'd like to ask more questions feel free to email me at korene@wjbradley.com We have a number of HARP2.0 loans some are unique but most are similar to yours in numerous points. It is why the program is so necessary. Korene L. Clopine-SeamanKorene L. Clopine-SeamanNMLS# 218520Senior Mortgage OriginatorAZ License # LO-0916745CA License # DOC-218520"You can leave me a Loan"(R) NMLS# 3233AZ-Mortgage Banker License #BK-0903998W J Bradley Mortgage Capital LLC.9237 East Via De Ventura, Suite 100Scottsdale, AZ 85258 USADirect Phone: 623-340-0934 Fax: 623-218-1807