Where can I go to qualify for a HARP mortgage if I currently have a privately held mortgage, that must be paid off.

Harp 2 is specifically for moertgages backed by Fannie Or Freddie. the much anticipated Harp 3 supposedly would be for people like yourself. If you want to email me some brief info regarding your situation, I can try to help you. I am licensed in NY, NJ my email is PBotros@OmegaLoans.net

First, make sure your mortgage is NOT owned by either Fannie or Freddie. For Fannie Mae (FNMA) use http://www.fanniemae.com/loanlookup/ For Freddie Mac (FHLMC) use https://ww3.freddiemac.com/corporate/. If your loan is not, and you do not have sufficient equity to borrow from a traditional lender, then your options really come down to the following: Pay down the existing debt to the level of equity required (FHA will allow you to borrow up to 96.5% of the appraised value; negotiate with the note holder for a refinance, or sadly give it back. If you have time, and a lot of faith, there is talk about HARP 3.0 which might help you, but at best, we probably won't see anything until next year. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

HARP refinances only apply to loans backed by FannieMae or FreddieMac. However, if you would like to look into refinancing out of a privately held mortgage, we can help. Feel free to call me at 516-567-7457.Sincerely,Mohammad

You can only refinance current Fannie or Freddie loans using the HARP program. Why must you do a HARP? What is your LTV and DTI?

First, check to see if your loan is backed by Fannie Mae - http://www.knowyouroptions.com/loanlookup - or Freddie Mac - https://ww3.freddiemac.com/corporate/index.html. If it is insured by one of these entities you might qualify for a HARP loan even with mortgage insurance. It does not have to be paid off. If not, then you will have to qualify based on your current loan to value. The best thing you can do is call a local mortgage professional in your area. They will give you the best answers for your situation. I would advise you not to call your existing lender. They are not usually very helpful. Good luck.

You will need to have a Fannie Mae or Freddie Mac backed mortgage to take advantage of HARP

Sorry if your mortgage is privately held you will not qualify for the HARP 2.0.

Sorry. As of right now only Fannie/Freddie loans. There has been some talk about a more inclusive program but nothing rolled out right now.