Freddie Mac Underwater Loan Not Qualifying for Harp 2.0

HARP 2.0 requires your loan be originated prior to May 31, 2009.. This guideline cannot be waived regardless of what someone else tells you, so don't set yourself up for disappointment.. You could buy down your mortgage, but you would have to be below 95%, and you would have some sort of mortgage insurance.. Going back to Chase will be a waste of your breath.. They will not help you.. The only thing you can do is to wait for your home's value to increase enough to do a rate and term refinance.. Keep in mind that there might be some creative way to get you refinanced, but your goal is to lower your payment, and lower your interest rate.. Some of these creative ways have you spending more money or adding more debt, so again, I caution you!! 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

Give me a call. I have gotten a few of these through after May of 2009. 888-320-7888 - www.MortgageWholesale.net - Ken

William, it completely depends on how Fannie and Freddie have it reported. Sometimes they only report the original purchase and not the refinance. I've seen this a few times and have completed the HARP refinance. As you know the banks and lenders are transferring loans all around and things don't get reported correctly. This is very common during the last 5 years because of the mortgage meltdown.

Sorry, but I doubt there is anything you can do right now. All the best.