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Replies (5)
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
Have you called your present servicer?
- Amylevi
- Contributions:3
Thank you very much for your replies. I haven't called my current servicer, which is PHH as I have checked on their rates and.. not very satisfied with what they are offering. I have just talked with Quicken Loan and was told that the new program which supports up to 125% has not yet been out. That means.. I will be on a waiting list hopefully.
One of the reasons that QuickenLoan denied our refinance is that we have PMI.
One of the reasons that QuickenLoan denied our refinance is that we have PMI.
- jalaabs
- Contributions:16
I may be wrong on this as I'm not affiliated with any lenders... but my understanding is that to get a HARP refi with PMI, you will be stuck with your current lender.
Also, Obama announced yesterday that the LTV requirements have been totally lifted from the HARP program. So you could have an LTV of 500% and as long as your loan is in good standing you could still qualify.
Also, Obama announced yesterday that the LTV requirements have been totally lifted from the HARP program. So you could have an LTV of 500% and as long as your loan is in good standing you could still qualify.
- Amylevi
- Contributions:3
Thank you jalaabs about the news.
Well, I called PHH and the automatic voice said I should call my credit union. So I did, and the credit union said she only heard the news, she isnot sure if this new program is approved yet.
:) Look on the bright side, I have something to wait for :)
...........
Also, the credit union stated that the refinancing option is based on situation and should be sent from PHH. Well, I only want to lower my monthly payment due to low interest rates. I haven't had any late payment since the beginning. I don't have any sort of "hardship" situation.. which seems like there's no reason for the lender to refinance my mortgage :(
Well, I called PHH and the automatic voice said I should call my credit union. So I did, and the credit union said she only heard the news, she isnot sure if this new program is approved yet.
:) Look on the bright side, I have something to wait for :)
...........
Also, the credit union stated that the refinancing option is based on situation and should be sent from PHH. Well, I only want to lower my monthly payment due to low interest rates. I haven't had any late payment since the beginning. I don't have any sort of "hardship" situation.. which seems like there's no reason for the lender to refinance my mortgage :(
Any lender that provide HARP for 115% underwater property in MD?
Have you happened to know any lender that will do HARP 115%? We know that our house is eligible for HARP: mortgage with Fannie in 2007, never late, rate was high at that moment: 6.75 with PMI. We contacted several big banks, so far only WF said that they only provide up to 105% :( we haven't heard anything from other banks.
Thank you very much. Have a great evening!
Amy
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