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We refinanced in 2009' but our loan wasn't sold to Fannie Mae until Nov. that year. any hope???

by alan_845_475 from Sacramento, California. Apr 9th 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

If your underwater, then your only option is to buy down your mortgage so your no longer underwater and refinance then.. or you could wait it out, since most area's are experiencing rapid appreciation... but if your mortgage was sold to FNMA after May 2009, then you cannot use HARP for refinancing.. .. 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

Apr 10th 2013
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Apr 9th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

I assume you are under water?

Apr 9th 2013
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James Mazzola (Mazzola)
#109 ranked lender in New Jersey - 314 contributions

What is you loan amount? jmazzola@sunnb.com

Apr 10th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

depends: What kind of loan? Do you have any equity in the home based on what a new appraisal would probably show?

Apr 10th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Sure there is. If you are not underwater you can always refinance. If it is an FHA loan you could streamline even if you are underwater.

Apr 10th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

If your question is that you need HARP to qualify due to valuation the HARP program will require that the loan be puchased by Fannie prior to June 1 2009. Depending on what your LTV is and the fact that your rate is still at 2009 levels, you can still refinance down to current rates and pay any applicable PMI and still save money on a monthly basis relative to what you are paying now.

Apr 10th 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

You can't use Harp, so if you are under water then unfortunately no.

Apr 10th 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Sorry, no hope for a HARP refinance. Loan had to be aquired by Fannie or Freddie before June 1, 2009. www.HARP-Refinance-MN.com

Apr 10th 2013
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Meena Iskander (Miskander)
#0 ranked lender in California - 18 contributions

Hi Alan, I am a loan officer here in Irvine, CA and may be able to assist you in meeting the goals you want for your house when you have a chance please call me at your convience directly @ 201-673-7205Thank You!!

Apr 10th 2013
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Sorry, you may have to live with your present loan.

Apr 10th 2013
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Craig Prickett (cpmtgnow)
#159 ranked lender in Florida - 98 contributions

standard refinance is your option.. 954 558 4430 Craig www.firstfloridafin.com

Apr 11th 2013
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