If the rules of changed in the Harp 2.0 program why am I still ineligible?

I have already encountered many BoA loans that we are able to do. Check your old loan documents and most importantly the HUD Settlement Statement. If there is no MI on there, then 99% chance you don't have Lender paid MI. If you do, you can still transfer the MI to another company without a whole lot of issues. What we have been finding is BoA transfers you around for hours with no concrete evidence of anything. With or without MI we can still help you. Give me a call. 888-320-7888 - www.MortgageWholesale.net - Ken

B of A has been at war with the MI companies and with Fannie Mae & Freddie Mac for some time, and as a result, either due to tensions with the MI companines or a hope of avoiding further tension, they've been pretty reticent about adopting the new HARP 2.0 guidelines across the board. However, if you work with an independent mortgage banker or mortgage broker who has multiple lender relationships, you should be able to get your loan refinanced. Best of luck!

The HARP 2.0 are the conforming guidelines to qualify for insurance, the lender (BofA) has the money... 2 different things... HARP 2.0 allows for unlimited loan to value, but the MI companies won't lend on unlimited MI, so the existing MI company has to allow a transfer... but all this really means nothing other than BofA really doesn't want these unlimited loan to value loans... they would rather someone else do them.... that being the case, you should contact a local mortgage broker, and forget about the bank... brokers have access to numerous lenders and can find the right loan product for your particular scenario.. WilliamAcres.com

Hello there. You have already gotten some great advice on this one. We are a local independent Banker/Broker and I have been helping lots of BofA customers. You can get your BPMI transferred in most cases. If you are open to a discussion, I am here locally. All the best www.Michael-Eiden.com

Your first mistake was calling them. My advice is: DON'T use one of the big banks, DON'T use one of the big national Mortgage factories, and DON'T use the people you are currently making payments to. Instead, contact a local Mortgage Banker /Broker. Your local Mortgage Banker has access to all the lending sources, allowing for an easier fit into the lender that makes the most sense for your situation. Whoever you choose, make sure you check them out at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com