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Home Affordable Refinance Program (HARP program)

Home ▸ Archive ▸ Serious Business ▸ Home Affordable Refinance Program (HARP program)
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Dec 31, 2011 9:04 PM
Anyone have any experience refinancing through this program? We've been wanting to refinance down to a 15 year fixed for a while but unfortunately do not have the equity in our house to qualify. I got a letter in the mail from Quicken Loans this week that mentioned the program and it seems like it might be worthwhile.

Here's the official site from the gov't:
http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx
Dec 31, 2011 9:04pm
ytownfootball's avatar

ytownfootball

Bold faced liar...

6,978 posts
Dec 31, 2011 9:06 PM
Depends on your lender...sore subject with me
Dec 31, 2011 9:06pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Dec 31, 2011 9:12 PM
ytownfootball;1032892 wrote:Depends on your lender...sore subject with me
Can you expand on that thought a little more?
Dec 31, 2011 9:12pm
ytownfootball's avatar

ytownfootball

Bold faced liar...

6,978 posts
Dec 31, 2011 9:21 PM
justincredible;1032898 wrote:Can you expand on that thought a little more?
Yes, but I'm reluctant.

I'll say this, if your lender was not the recipient of federal buyout funds (either directly or indirectly) they're not obligated to afford you the ability to do so. If you're current then things are a little different but not much.
Dec 31, 2011 9:21pm
Ironman92's avatar

Ironman92

Administrator

49,363 posts
Dec 31, 2011 9:22 PM
I'm dumber than shit.

Hope this helps.
Dec 31, 2011 9:22pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Dec 31, 2011 9:59 PM
ytownfootball;1032908 wrote:Yes, but I'm reluctant.

I'll say this, if your lender was not the recipient of federal buyout funds (either directly or indirectly) they're not obligated to afford you the ability to do so. If you're current then things are a little different but not much.
I'm not sure I understand. How is it different than any other refinance, outside of the LTV amount required?
Dec 31, 2011 9:59pm
ytownfootball's avatar

ytownfootball

Bold faced liar...

6,978 posts
Dec 31, 2011 10:03 PM
justincredible;1032939 wrote:I'm not sure I understand. How is it different than any other refinance, outside of the LTV amount required?
FHA, PMI insurance? Lots of variables Check your PM's.
Dec 31, 2011 10:03pm