Need help with Ohio harp 2.0 lender BAC says I don't qualify due to lpmi

HARP isn't perfect, and doesn't help everyone. There are many quirks. Fannie and Freddie backed loans WITHOUT PMI are pretty easy to obtain. Loans with standard PMI are dramatically more difficult, and you can expect hurdles, challenges, delays, and for many - disappointment. Finally, loans with LPMI (lender paid mortgage insurance) are virtually impossible to get done. www.HARP-refinance-MN.com

Contact a local mortgage broker, not a bank, and have them look into it.. with their vast network of lenders, they should be able to find the lender that will allow your pmi company.. WilliamAcres.com

Seek a local mortgage broker, they should be able to find a lender that rolls PMI over, I have but only do loans in FLA..Good Luck

Yes, I would try and work with a mortgage broker who has access to several different mortgage banks to see if you can get this done. First, you will need to find a bank that will allow a transfer of mortgage insurance from your existing MI company. 2nd, you will need to find out if your LPMI will be converted to borrower paid MI. One of the mortgage banks that I work with that allows MI transfers states that if a borrower has LPMI it will need to be converted to borrower paid MI for Harp 2.0. If you have to pay for borrower paid MI then you are probably eating away most of the savings you would have benefited from on a rate reduction. Another thing you might want to try is to call your mortgage servicer and see if they can get this deal done for you. The servicer is who manages your mortgage now, refer to your monthly mortgage statement.

Lorie323,I am able to help.Please e-mail your contact info to wsmith@firstohiohome.comI'll contact you to discuss.Thanks,William

Personally, I don't think HARP is this incredible loan program like it is advertised. It only helps a smaller population of consumers.We have programs to help that can give you a great rate with no PMI other then HARP. Please call/email if interested!