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HARP 2.0 help in MI. Freddie caution problem.

Hi I have tried two credit unions and a mortgage broker and none of them see sense in the cautions I am receiving from Freddie Mac. 691 FICO. 24% debt to income. ratio. 105 to 110 LTV. PMI from MGI. Small HELOC. Anyone willing to help me that can reach out to Freddie to get some clarity? Cautions are an account opened to recently, too many inquiries, and ratio of available credit to used which doesn't seem correct. Current servicer is M&T Bank. I tried them too. They talk like used car salesmen and have no incentive to offer a rate below 4.5%. Then they rush you off the phone.
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August 07 2012 - Grand Rapids Township
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Try a 20 year might go to Accept. Freddie does not like 30 year at your FICO and LTV/CLTV.
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August 07 2012
Then they rush you off the phone. 
=============
that was after you told them you didn't want to proceed. Did you think they'd stay on the phone and discuss the weather with you? 


Try a 20 year fixed.
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August 08 2012
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Thanks Justin.  I will give it a shot.
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August 08 2012
I agree with Justin, Freddie definitely favors shorter terms.  Also, make sure that you are providing your loan officer with ALL assets.  We've had some success securing LP Accepts on 30 year terms with high reserves. 

Feel free to contact me through my profile if you'd like to discuss your options.
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August 08 2012
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No Joy at 20 yrs.  I'm beginning to think i either have to suck it up and try to work with my servicer M&T or hope this HARP 3.0 happens and changes something.
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August 09 2012
Sorry to hear that didn't work out.   The FICO score is certainly the item hurting you most.    See if you can get that to the 720 or 740 range and that should open up at least the 20 year option on Freddie Mac.
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August 09 2012
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I keep getting "caution" too, but no explanation why. Property is investment,WA State, bought '07 $200,000., worth $130,000. Payment $1166., rent collected $1050.00, escrow $166.00 per month.
Was Bank of America, is Freddie, never missed, , never
late, 750 credit, great income, one other property that is primary. Bank of 
America just kept saying it was not eligible because it was a Acorn Loan.I was a first time homebuyer in '07 and BOA sent me to a class, and gave
 me a loan. I had 720 credit in '07, but I can only assume I was given a sub prime loan. BOA sold my loan to Nationstar two months ago, they ran thru Freddie and came back "caution", went to a local Bank, same "caution", tried 30, 20 yr, 15 yr same "caution" Do not have high DTI, no car payments, no kids, income $1600. per week, $50000. YTD gross. So whats the deal with this Acorn stuff, anyone know?
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August 21 2012
http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx


Government HARP Official Website.
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August 21 2012
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Been there , done that, what are you trying to tell me? 
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August 21 2012
 
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HARP 2.0 help in MI. Freddie caution problem.
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