My Credit Union Holds my Mortage how can I refiance?

Your biggest problem is that you started with your credit union. I have run into dozens of people in your situation. The problem is that the CUs tend to underwrite the loans as either Fannie or Freddie loans, but then hold them in their portfolio instead of selling them to Fannie or Freddie. The dilemma is that to qualify under HARP, Fannie or Freddie must have purchased the loan prior to May 31, 2009. If your credit union still owns the paper, then ALL of the power rests with them. They should do the right thing and modify your rate, but it isn't likely to happen. Bottom line is you're stuck. For reasons like this, I remind people to NOT use a credit union when financing real estate. For other risks of financing with a credit union, check out my blog post at: http://www.lender411.com/mortgage-articles/4314/dont-borrow-where-you-bank/. After reading it, you will understand why I ALWAYS recommend using a Licensed Mortgage Professional to get your home financing. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Sorry at this time I do not know of anything out there for you. Your best best is to talk to your credit union and see if they will work with you. All the best!

Depending on your current rate, it may be beneficial to use an FHA refinance. That program allows you to have 97.75% loan to value ratio. Good luck!