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Can I cash out up to 125% with Harp 2?

Is that allowed? If not up to 125% at any level? by Soraya_482_166 from Salem, Oregon. Mar 6th 2012 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,944 contributions

Sorry NO. Cash out is NOT an option with the HARP program. Furthermore, you can NOT combine an existing first and second mortgage into one either. All you can do is refinance the existing first loan.

Mar 7th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

HARP and HARP 2.0 are both "No Cash Out" programs. In today's lending arena, there are no lenders willing to advance additional cash on a mortgage with no equity. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Mar 6th 2012
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Jean Andersen (Jean.Andersen)
#40 ranked lender in Georgia - 4 contributions

No you cannot. The program is for existing first mortgage to lower interest rate or term or both.

Mar 6th 2012
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Melvin List (melvinlist)
#144 ranked lender in Florida - 124 contributions

No, HARP is designed to help homeowners reduce their term or payment. Cash out is not allowed with HARP 2.0.

Mar 7th 2012
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