Harp Refinance Program

You won't be able to find a better rate because no other bank will touch you.

If you don't mind indulging me a rant this is what pisses me off about these programs. You can get 4% because you are underwater, I can't because I have more than 100,000 in equity. I can't do the making homes affordable modification because I have never been late on my mortgage in the 22 years I have owned this home. I can't get a good rate because my ex trashed my credit even though at this point the only debt we have is my mortgage. Where are the programs for people like me!!!!!

Rant over. :)

I have read about the new program, HARP. This is supposed to correct the problems that came up with the HAMP program. Hopefully, since the banks were called out on the false info they were processing (robo signing and such) and taking so long to help a homeowner modify that they fell into foreclosure, they will take care of this quickly. Also, I belieive this program was put in place to help those homeowners that are under water but do pay their mortgage. The whole point of not paying just to get someo help is unbelievable. I don't know anyone that has gone through or started this program since it is so new. As you can see from other responses, not many people even know about it. I don't think there has been enough say about it like when HAMP came out. Let us know how it goes.

If anyone is interested in checking out the program, go to www.makinghomeaffordable.gov and go under Explore Programs. Then choose lower interest rate and then the HARP program.

I think you mean HAMP?

I don't know much about this but, I am in the same position. I have never been late on a payment but need to move in the next 5 years or so because my son has special needs that the public school in the area can't meet. He is currently going to a school 1.5hrs away from home and it isn't ideal. If we were to do this it would be to pay down what we owe at a faster rate so that maybe we can sell and break even.

As far as Jo's comment, she could refi if her credit wasn't bad due to her ex. and she would get a better rate. There are plenty of people who do. We can't help the cards we are delt in life. A. didn't say she couldn't make her mortgage payment or that she was behind. She said she was 50,000 under water which most of us are right now. Calm down...

A., Good luck, if you do find out any info post it so that we can learn about it first hand.

Take care

I don't know a single person who has had success with HAMP. We've been involved in this for over 3 years and it has been nothing but a nightmare. I hope that you are able to make it work. And no, no one else will touch you because you have no equity.

I just did this and it is the HARP program. Mine is also an investment property. My bank gave me a rate of 4.50%. It is possible that rates could have come up a bit since I locked in my rate a few weeks ago. This was the easiest closing I've ever have to do and it took less than 3 weeks from start to finish!