Rates have dropped significantly lower since I refinanced when HARP was first launched. I have never been late on a payment but would like to refinance to a lower rate. I am still way over 100% LTV on my home but have never been late on a payment. by faith0_240_766 from Dearborn, Michigan. Jun 10th 2013
Hi Faith! As Barb noted, HARP is a one time use, so that is not an option at this time. Without Equity, there is no loan program on the market to help! Sorry!
Unfortunately, HARP is a one-time refinance at this time.
If you had refinanced after 05/2009 using the HARP program you cannot use it again...yet. There may be a HARP 3 coming for people in your situation. This program would allow people who had closed on loans to refinance using HARP again or for the first time. The HARP 3 program may even allow non-agency backed loans to be eligible for today's lower rates. Please call your congress person and let them know you feel more relief is needed and that you would like to see HARP 3. It has been in congress since February with out much discussion
Bummer Faith. One time only. Good news however, I am seeing home values going up in my area of the State, and will happen soon for you hopefully.
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