I had refinanced my 5.5% 15 year to 5.5% 30 years on Oct. 2009, Can I qualify for HARP2?
I bought a house in 2007 for 320K for 15 year loan at 5.5% rate. It was around 2.2K monthly payment. I can't afford that much payment, so I had refinanced to 5,5% 30 years loan. And my monthly payment went down to $1,350/month. Now my house's value is only $180K and I still owe 200K mortgage. My house is under Fannie Mae and I always pay it on time. However, I can't qualify for HARP2 because of my refinance is after Jun. 2009. I'm so disappoint and this is so stressful to me. The house is underwater a lot, but I still keep it and pay it on time. I hope if someone know there is anyway that I can refinance to the lower interest rate(today is 4%), please someone help me. I am going crazy!! by kenwan_764_430 from Phoenix, Arizona. Jul 10th 2012
Sandy McKee (smckee)
#41 ranked lender in Arizona - 23 contributions
Hello,You do not qualify for Harp 2 as you probably already know. I would call your servicer and see if they are willing to help. This is most likely your only option. Best of luck, Sandy
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Unfortunately, at the present time you do not qualify for HARP, and there really are no other options. There is much discussion about another round of tweaking that may help you in the future. Stay tuned. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950
James Barath (JamesBarath)
#9 ranked lender in Indiana - 352 contributions
Underwater or not, your home is more than just an investment. Your home is a place of refuge and place to create family memories. Be happy that you were able to reduce your monthly burden when you did. Interest rates are relative and years from now, you will be thrilled with a rate of 5.5%.
Ralph Richard Guertin (ralph@absolutelowrates.com)
#58 ranked lender in Georgia - 807 contributions
Harp 3.0 might help as they are propsing an extension thru 2010 fannie and freddie loans...if it gets passed, and remember its an election year, so good chance it will get pushed thru...
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