Our non GSE loan is @ 5.87 %. Frustrated that we can not get a better rate. We are current, never late. Told by B of A, the servicer, that our loan, a CWALT pass thru certificate, is tied up with the investors and there is nothing they can do. The PSA will not allow any modifications unless we are at default. It almost encourages responsible homeowners like myself to become irresponsible.Any advice for us? by Jim & Liz Kinder from Ponte Vedra, Florida. May 13th 2013
As this is a non-GSE mortgage loan no HARP program applies. Depending upon the investor you may be able to do a short payoff with a refinance; otherwise short sale is the only option other than paying the current mortgage rate.
If your LTV is over 80% but you're not underwater try to find a lender that can offer upfront mortgage insurance premiums. In many cases you can either finance the premium or work with your LO to get a lender credit to cover most if not all of the premium. Upfront MIP will keep you from having monthly PMI saving you thousands. Good luck!
I am assuming you are underwater in your property. If so, then yes, Harp 3 will be your only resource. Feel free to call me:Sharon 856 324 36087th Level Mortgage
Are you upside down or do you have some equity? We can go up to 95% on a refinance and possibly 97%. If you have some equity and good credit please call me and I will take your application and see what I can do for you. Best Regards, Linda (727) 530-9404 or (727) 460-9418.
Unfortunetly the Good Guys are stuck in your situation......hopefully something new comes up in near future that can help you.
Yes Wait for Harp 3.. New guy being confirmed for Fannie and Freddie.. Next few months we might see a Harp 3
We specialize in HARP loans. E-mail me your name, number and e-mail and we will keep you updated as to the progress of the HARP 3.0 loan. We expect this program to be available by the end of the year. P: 888-320-7888 - ken@mortgagesforamerica.org - Ken Burrows
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