Replies (3)
- Jesse Gonzalez, "Jesse the Broker"
- Contributions:10
Well, you can post a question on this website like you've done and you'll get many responses.
1. Is Chase unwilling to refinance the loan under the Harp 2.0 guidelines, why go with an independent?
2. We have a lender that participates in the new Harp program that allows the refinance with existing LPMI.
1. Is Chase unwilling to refinance the loan under the Harp 2.0 guidelines, why go with an independent?
2. We have a lender that participates in the new Harp program that allows the refinance with existing LPMI.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3767
Renetty;
Refinancing under HARP with existing LPMI is not a problem as long as that LPMI was paid to the mortgage insurance company in one lump sum. If the lender is paying it on a monthly basis, it does get a little stickier. I do not believe there is any way for you to tell which way it was done. Contact me through my profile and I can put you in touch with someone that can help
Refinancing under HARP with existing LPMI is not a problem as long as that LPMI was paid to the mortgage insurance company in one lump sum. If the lender is paying it on a monthly basis, it does get a little stickier. I do not believe there is any way for you to tell which way it was done. Contact me through my profile and I can put you in touch with someone that can help
- user7107641
- Contributions:1
Funny, Chase told me the same thing today. Yet, I have other lenders saying that it is not a problem and to come on over. I was staying with Chase to hopefully skip some of the hassle of a refi but if they can't get their stuff together, I'm jumping ship.
HARP 2.0 with LPMI
Hello,
We bought our house in July 2008 and are now hovering between 95% to 105% LTV depending on the direction of the market. Our loan is with Chase, but has LPMI. We have been told we are perfect candidates for HARP or HARP 2.0 for a while now except for the LPMI. We were hoping the new changes rolling out last weekend (availibility of the automatic underwriting software from Fannie/Freddie) would make it easier to find an independent broker or lender willing to help us refinance. I am finding mixed responses, and very little interest in helping us. We have great credit, no missed payments, and are able to pay the current loan. How would one go about finding a lender who is willing and able to help refinance with the new rules in place? Thanks!
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