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I qualify for HARP 2.0 but my LTV is 130%, is that too high?

Purchased my home in November 2009 for $321,000, home value has fallen. Can HARP help me? by Aiden1234 from Salt Lake City, Utah. Apr 2nd 2013 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,659 contributions

HARP guidelines require you loan be committed to Fannie Mae/Freddie Mac on or before May 31st, 2009.. If your loan was initiated in November, 2009 it doesn't qualify.. There are other options available to you, but I would caution you on considering a loan modification.. Just do a Google search for consumer complaints on loan modifications, and you'll see what I'm referring to.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 2nd 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,895 contributions

The fact your loan was done in NOVEMBER 2009, means you do NOT qualify for HARP. Sorry... But contact a local mortgage broker for a full review of your situation and what might be available to you. www.HARP-Refinance-MN.com

Apr 2nd 2013
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Peter Savino (855411LEND)
#100 ranked lender in New Jersey - 332 contributions

Sorry you do not qualify if your loan was closed in Nov.2009.

Apr 2nd 2013
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Linda Miller (Linda Miller)
#2 ranked lender in Utah - 566 contributions

Joe is right - the cutoff was May 31, 2009 - and is not the closing date but the date Fannie Mae securitized the loan - which may be weeks after the closing date. I have had clients who missed qualifying by just a few days. Very discouraging. The market in Salt Lake is getting better. Appraisal are coming in higher than expected. I have just refinanced two clients with a regular refinance (couldn't do HARP either) because their homes have appreciated enough. Give me a call - lets talk about your situation and see what we can do. Linda - 801.550.1222.

Apr 2nd 2013
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,240 contributions

Unfortunately it is when you took your loan out not the ltv that disqualifies you.

Apr 2nd 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Give me call when you can. I possible have another option for you. Call me on my cell at 801-971-6901. Thanks Carlo

Apr 2nd 2013
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Give me a call as soon as you can I can give you a free home value and other options. (801) 664-2393.Thanks,Greg CatonSecurity National Mortgage Midvale, Utah

Apr 2nd 2013
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Greg Caton (GCATON12)
#69 ranked lender in Utah - 5 contributions

Give me a call as soon as you can, I can give you a free CMA on your home that will give you an estimated home value, and I have some other options for you. (801) 664-2393 or email me at gregory.caton@snmc.com.Thanks,Greg CatonSecurity National Mortgage Midvale, Utah.

Apr 2nd 2013
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Eric Blossman NMLS 211144 (eblossman)
#116 ranked lender in Texas - 63 contributions

Yes.. most of the answers here are correct. You won't make the 05/31/2009 deadline to be eligible for HARP, and there isn't anything else available at that loan to value if your current loan is a conventional one. I can only assume that HARP will move the 05/31/2009 deadline at some point down the road, so hang in there!

Apr 2nd 2013
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Carlos Figueira (carlosfigueira)
#108 ranked lender in New Jersey - 198 contributions

Yep.....5/31/2009 is the current date that you must have closed by as others have mentioned.

Apr 2nd 2013
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