Zillow Advice: Refinance - Why are we not eligible for HARP when LTV is within 125%? Chase says PMI is the reason. http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ Zillow Advice | Zillow Real Estate Chase is a problem for some ... http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ Chase is a problem for some borrowers. However, this is changing. &nbsp;I can put you in touch with someone who may be able to assist you or at the very least, provide you with some quality information. &nbsp;If you are interested, please contact me. Thu, 23 Feb 2012 18:56:00 GMT http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ 2012-02-23T18:56:00Z Thank you for the information.&nbsp; ... http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ Thank you for the information.&nbsp; The PMI is not putting us over the LTV limits.&nbsp; The folks at the HARP program state that PMI has nothing to do with their program.&nbsp; We've talked to three different HARP reps and they all said same.<br/><br/>However, Chase will not re-finance us under HARP or any other program because It's a Chase rule b/c of the way we paid for our PMI.<br/><br/>From what I understand because at our time of re-fi (prior to Dec 2009) we paid 1/4 point interest which was offered as an alternative to paying PMI monthly.&nbsp; We paid the PMI in a lump sum fee by paying the 1/4 point.<br/><br/>We are being refused re-financing by anyone else b/c Chase will not re-finance our loan.&nbsp; At least that is what other companies are telling us.<br/>I feel like Chase is holding us hostage.<br/><br/>I'm finding out that just because we are eligible for HARP - it doesn't mean that the lenders will help you.<br/><br/><br/><br/><br/> Thu, 23 Feb 2012 15:59:00 GMT http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ 2012-02-23T15:59:00Z " It is very hard to say ... http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ " It is very hard to say without knowing all of the details, but the Mortgage Insurance must be putting you over the Loan to Value limits."<br/>----<br/>I would love to know how mortgage insurance has anything to do with loan to value. Michael, please come back and explain your answer to us. How does MI cause one to go over the LTV limits? Thu, 23 Feb 2012 15:24:00 GMT http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ 2012-02-23T15:24:00Z It is very hard to say without ... http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ It is very hard to say without knowing all of the details, but the Mortgage Insurance must be putting you over the Loan to Value limits. I would try to talk with someone else at the bank and review your situation. Thu, 23 Feb 2012 15:21:00 GMT http://www.zillow.com/advice-thread/Why-are-we-not-eligible-for-HARP-when-LTV-is-within-125-Chase-says-PMI-is-the-reason/432776/ 2012-02-23T15:21:00Z