Clarification/Who's giving the right answer?

There are other options available to you other than the HARP. Feel free to contact me and we can go over them. We are lockal here in Cincinnati. The best way to reach me is by cell phone at 513.490.1585. Thanks.Dan Walsh

Ok.. So you have a lot of questions here.. With HARP 2.0, it's a "one and done" Refinance program.. If you have already used it, you cannot use it again.. As far as refinancing the first, you can if you have 20% equity.. It's not going to be a HARP refinance, just a straight up rate and term refinance.. So if your COMBINED LTV is 98%, it really depends on how much your HELOC is... if your first is 80%, or less, then you might be able to refinance the first again.. You will not be able to refinance the first and the 2nd into one mortgage.. Not at 98% LTV.. You will have to either pay down the mortgage or wait for the value to increase. It's also possible to refinance the HELOC, but your best bet with that is to go back to your HELOC lender.. As far as HARP 3.0.. If it does come out, which i guess will be soon, it's not intended for you.. It's intended for borrowers who have not been able to qualify for a refinance by using one of current programs.. It's intended for "all other borrowers".. Since you already used HARP, you won't have any options open up when HARP 3.0 comes out.. if you want to know if you qualify for sure, you should contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders for your first mortgage...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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

Let's make this simple. If you used HARP for this property, you cannot use it again, period, end of story. The rules prohibit it. Even if you had not used HARP, the rules DO NOT allow you to combine any other liens into the HARP refi. You say you want to combine your 1st and HELOC into one. This is known as a cash-out refinance. You are going to have issues. Lender overlays cap cash-out refis to 85% of the appraised value. Now you say you have 3 years to go before your HELOC balloon hits. Get cracking. Contact a local Community bank or Credit Union and find out what your options are. Many CUs still offer HELOCs up to 95% of appraised value to highly qualified borrowers. You pay need to pay down the balance of the HELOC to fit their program, but that beats the alternative. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

FIRST, no one really knows when the HARP 3 will come out .. it took approx 2 years to get the harp 2.0 ... so... I need to know what lender/ bank you are with.. this makes all of the difference .. you can email at yourloanpartnerforlife@live.com or phone at 602-330-1598 linda are you current on your mortgage??

I believe that you have some options but it will depend on how the deal is structured. The problem with waiting for HARP 3 is first no one can say for sure when and if it will be launched and second rates could change drastically by the time HARP 3 does come out. As for DU Refi - what you are hearing is correct. Because you already took advantage of the program you would not qualify for that again. With this, I do think that you have options to refinance and take advantage of the wonderful rates.Feel free to call me if you would like. Cell - 614-266-0304or email me at chrismylin@gmail.com

Because you refinanced last year I do not believe you will be able to take advantage of the HARP 2.0 Your loan is no longer before March 31st 2009. Good luck!