Profile picture for its1997

wells denied refi under 105% stimulus package because of PMI in mortgage.

wellsfargo  denied refi under 105% stimulus package because of PMI in mortgage.
Is there any work around ?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2009 - San Ramon
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (7)

Profile picture for wavinback
I have the same problem, loan is held by Fannie Mae, and has PMI.  Wells and every other lender has told me only the existing servicer can do a HARP loan because of the PMI.  MetLife transferred my loan (and 69k others) to a fly-by-night servicer that "doesn't do refinancings" right before phase 2 kicked in.  Everybody, Fannie Mae, Hope, Wells, Metlife, and the existing servicer, says I'm SOL.  Some program.  Seems like the people who foreclose do better than those of us who pay our bills.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
May 10 2010
Profile picture for its1997
 wellsfargo started processing   harp refinances with pmi     from last september. but rate u get depends on the LTV.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 14 2009
Profile picture for its1997
i am still waiting to refinance....they still say "not eligible".  
any body there with successful HARP refinance (with PMI)?
is it only wellsfargo's fault ? 
or 
all the banks are same?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
July 21 2009
Profile picture for spin117
I have Wells Fargo lender paid PMI option as well (+ 1/4%).  Will a "lender paid PMI' loan become eligible under the program, or will it only be if you are paying actual PMI.  Thanks!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 21 2009
It's not a denied. You are not eligible at this time due to the fact your original loan has PMI.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2009
It wasnt denied. Phase two of the program hasnt started yet. Phase 2 will account for loans that currently have PMI. Estimated phase 2 is end of April. Call them back then.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2009
No work arounds if the Current MI company won't re-issue the MI there are no options!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 20 2009
 
Related Questions
Need a lender who will do a 2nd mortgage that closes concurrent with a seperate lender 1st mortgage
Profile picture for Ray Blindauer
Latest answer by Ray Blindauer
April 17 | 1 answers
Need Help With a Question About PMI
Profile picture for Austin  Johnson
Latest answer by Austin Johnson
July 09 2013 | 7 answers
  • Asked by user8005739
  • In Refinance
  • June 14 2013
What can I do to get more (or better) quotes for my loan request ZR-TDSJYDX
Profile picture for Brian GFL Capital
Latest answer by Brian GFL Capital
June 06 2012 | 1 answers
  • Asked by Kevin Simmons
  • In Refinance
  • June 06 2012
what costs can lender pay in refinancing?
Profile picture for T.C. Whiting
Latest answer by T.C. Whiting
August 22 2011 | 5 answers
wells denied refi under 105% stimulus package because of PMI in mortgage.
Profile picture for wavinback
Latest answer by wavinback
May 10 2010 | 7 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 809 Willow Pond Ct, San Ramon, CA Home For Sale
    809 Willow Pond Ct, San Ramon, CA 94582

     For Sale: $715,900

    • Beds: 3
    • Sqft: 1904
    • Baths: 2.5
    • Lot: 2100
  2. 5009 Blackhawk Dr, Danville, CA Home For Sale
    5009 Blackhawk Dr, Danville, CA 94506

     For Sale: $1,499,000

    • Beds: 4
    • Sqft: 3451
    • Baths: 3.0
    • Lot: 22215
  3. 225 Tangerine Ct, San Ramon, CA Home For Sale
    225 Tangerine Ct, San Ramon, CA 94583

     For Sale: $435,000

    • Beds: 2
    • Sqft: 1255
    • Baths: 2.0
    • Lot: --
 
 
 
Sign in with Google