My mortgage handler participates in HAMP but not HARP, What should I do?

mphogue
Contributions:1

My current mortgage handler does not participate in the HAMP but not HARP program. I am current about 70k underwater, have great credit along with steady income. I have talked to one bank and was told because I am not an existing customer they will not work with me. The loan officer also told me that this will be across the board. What options do I have from here?

Flag content

January 09 - Ashburn

E-mail Share RSS

Answers (1)

Mike Bjork, "MortgagePlannerMike"
- 0.0/5.0
Contributions:346

The HARP 2.0 is expected to be rolled out to everybody within the next few months (probably by March). I'd suggest waiting for the roll-out. In the meanwhile, I'd also suggest verifying if you have a Fannie Mae or Freddie Mac loan. Here are the links to those sites (Fannie Mae is here) (Freddie Mac is here). If you don't find your loan with either of these two sites, then it will be a moot point and your property won't qualify for a HARP loan. If you have a government loan (like FHA or VA), then it could potentially be refinanced as a Streamline (without an Appraisal), so the home value won't be an issue. Hope this helps. Good luck!