Posted on: 07th Sep, 2009 06:11 pm
do you know if the 125% refinancing is going to go through on october 1st for all mortagae comapnies not just fannie mac or sallie mae? i bought my home almost 3 years ago & i'm trying to sell it but i cannot sell it because i owe more than it's worth. i would like to rent it; however i would like to refinance it so i can rent it for less. thanks for your help!
Hi kloya,
There has not been any such announcement from the Govt. that promises to extend the Home Affordable Refinance Program (HARP) to all mortgages, irrespective of if they are owned by Fannie Mae or Freddie Mac or any other mortgage company. I have heard that the Govt. is planning to take such initiative to extend help to several thousands of struggling homeowners whose mortgages are not owned by Fannie or Freddie. But so far there has not been any official announcement that allows all homeowners to take advantage of the refinancing up to 125% LTV.
There has not been any such announcement from the Govt. that promises to extend the Home Affordable Refinance Program (HARP) to all mortgages, irrespective of if they are owned by Fannie Mae or Freddie Mac or any other mortgage company. I have heard that the Govt. is planning to take such initiative to extend help to several thousands of struggling homeowners whose mortgages are not owned by Fannie or Freddie. But so far there has not been any official announcement that allows all homeowners to take advantage of the refinancing up to 125% LTV.
Do you do 125% loan refinancing for people who do not qualify for Harp?
Hi Lydia,
In order to do a 125% loan refinancing and qualify for HARP, you will have to contact your lender. If your lender participates in the program, then he will be able to help you in this matter.
Thanks
In order to do a 125% loan refinancing and qualify for HARP, you will have to contact your lender. If your lender participates in the program, then he will be able to help you in this matter.
Thanks