Big Banks or your current loan servicers are not the only ones approved to do California HARP Refinance for Upside Down and Underwater mortgages. There are lots of other mortgage lenders big and small … [Read more...]
FAQ #10 – Are Only The Big Banks Approved to do California HARP Mortgage Refinance?
March 1, 2012 By Leave a Comment
FAQ #9 – Can I Get the New HARP Mortgage if My Current Loan Has a Mortgage Insurance (MI)?
February 29, 2012 By Leave a Comment
1 word answer - Yes, you can get a California HARP 2.0 Loan if your current mortgage has a Mortgage Insurance (also called MI or PMI). However, there could be several possible scenarios to this and we … [Read more...]
HARP FAQ #8 – Are Appraisals Required For The New Home Affordable Refinance Program?
February 27, 2012 By Leave a Comment
If you read one of my earlier blog posts about California Obama Government Refinance Program, you already know that this new HARP Program allows for unlimited Loan to Value (LTV) ratio. But the … [Read more...]
HARP FAQ #7- Can I Combine My First And Second Mortgage Into The New HARP Refinance?
February 26, 2012 By Leave a Comment
If you currently have a first and second mortgage and want to combine the two into one loan with California New Home Affordable Refinance Program (HARP) - You can not do that. New HARP guidelines … [Read more...]
HARP FAQ #6 – Can I Be Late On My Mortgage and Still Qualify for HARP 2?
February 26, 2012 By Leave a Comment
California Home Affordable Refinance Program (HARP) guidelines suggest that you can't be late on your mortgage during last 6 months to qualify for this Government Program. Further, you can not be more … [Read more...]
HARP FAQ #5 – Will The Lender Verify My Income, Employment and Assets for New HARP Loan?
February 23, 2012 By Leave a Comment
Fannie Mae doesn't expressly ask for Income, Employment or Asset verification for California HARP 2.0 Loans. Fannie Mae suggests that the lender must obtain a verbal verification of employment (VOE) … [Read more...]
HARP FAQ #4 – Are All Borrowers on Existing Mortgage Required To Be On The New HARP Mortgage?
February 21, 2012 By Leave a Comment
Borrower(s) may be removed through the California Home Affordable refinance (HARP) transaction, provided that The lender obtains documented evidence that the remaining borrower has been making … [Read more...]
HARP FAQ #3 – Is There a Maximum Loan to Property Value Ratio (LTV) for HARP Loans?
February 20, 2012 By 1 Comment
So you have no equity in your California house, worse still - you are actually upside down on your mortgage? You have tried refinancing in the past, but were turned down because of low or no equity in … [Read more...]
HARP FAQ #2 – How to Find Out if Fannie Mae or Freddie Mac Owns My Loan?
February 19, 2012 By 2 Comments
One of the HARP Loan Eligibility criteria is that your current loan needs to be owned/serviced by Fannie Mae or Freddie Mac. However, it's not always easy to find if that's the case. If you plan to … [Read more...]
HARP FAQ #1 – What Occupancy Types are Allowed for Home Affordable Refinance Program?
February 15, 2012 By Leave a Comment
If you are planning to apply for a California Home Affordable Refinance Program, but not sure what occupancy types are allowed for new HARP - read on. All occupancy types i.e. Primary Residence, … [Read more...]
