Why are mortgages with lender paid mortgage insurance disqualified for harp refi ? Is there anyway around that?

There is an alternative to Harp through a non profit group. It allows people to stay in their homes at 90% of current market value.No mortgage insurance required. If you know any one else who is underwater or upside down on their loan, I would love to help.Call me Mary Fox 610 574 2587 www.managemymortgagepa.com

Sounds like whomever you started with doesn't want to go the extra step to help you. Lender paid MI is still an MI policy where the policy was purchased with funds from the Lender. In most instances these policies can be transferred to the new lender. Start with a local Mortgage Banker/Broker. Don't use one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. As a Mortgage Banker/Broker, we have access to most all of the programs out there, whereas the big banks and mortgage factories typically only have their own proprietary products available. You'll be in good hands. One way to find a quality Mortgage Loan Originator is to search for one at the National Association of Mortgage Professionals at www.NAMB.org Good Luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

ITS all about the money they, the lender might have a agreement with the pmi company, that they will not allow the refi, cuz they do not want to pay back.. it can be done email me at yourloanpartnerforlife@live.com your situation i am a private money lender , same rates , but easier on the qualifying...

Find another lender! All you have to do is convert it to borrower paid.I only Lend in Florida!

If you are paying mortgage insurance on your current loan, you will need to contact your mortgage company that your loan is currently through to obtain a harp loan. If you are not upside down on your mortgage, you may want to simply refinace your home to lower your rate.

You have bad information... Lender Paid MI is not disqualified for HARP. Just guessing, but you're probably trying to refinance with your current servicer, and they probably have internal restrictions for their HARP program. There are other lenders out there that will allow for these types of refinance transactions. So long as the MI certificate can be transferred they will accept it.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, not your current lender, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com