HARP 2 Refinance Questions Answers.

Apr 5, 2012

Today we conducted the last scheduled HARP 2 seminar / webinar.  Here are some of the common questions raised from attendees over the last 3 weeks and our answers.  Remember these answers are valid as of today and may change:


What are the two minimum requirements for a mortgage to eligible for a HARP refinance?     

(1)     Loan must be backed by Fannie Mae or Freddie Mac.  (2) Loan must have a securitization date prior to June, 2009


How do I find out if my loan is a Fannie Mae or Freddie Mac loan?

Use a web based look-up tool: 




If neither Fannie Mae nor Freddie Mac has a record of my mortgage, do I have options?

Yes.  These include a traditional refinance and FHA streamline refinance.


If I refinanced with HARP, can I refinance with HARP II?



Is my current lender the only lender that can refinance my mortgage under HARP?



I pay PMI now. Can I refinance under HARP II if my loans balance is greater that the home value?

Most Likely.


Can I refinance a rental property or vacation home with HARP?



Can I refinance a two unit property with HARP?



Does HARP allow loan balances to increase, so that I do not need to bring funds to closing?



Are VHDA mortgages eligible for HARP 2 refinances?



These and many other issues were covered at these events.  If we see a strong demand we may repeat them live or via the internet.


Click here to discuss a HARP or other refinance with a TrustMor loan officer.




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