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If I want to remove an x from the mortgage do I still need to include him or her as an applicant on the HARP application?

by JRW777643 from , . Oct 14th 2016 Reply

Larry Gray (lgray_312_247)
#595 ranked lender in California - 1,139 contributions

You may exclude an x.For loans approved by automated underwriting systems (AUS), borrower(s) may be dropped as long as at least one of the original borrowers is obligated by the new loan. I would put it through (AUS) with just you on and required information to see if we get approval.If the loan must be underwritten manually, borrower(s) may also be removed as long as one of these conditions are met:1.The remaining borrower must prove that he or she has been paying the mortgage from his or her own funds for the past 12 months2.The remaining borrower(s) may qualify on his or her own as though taking out a new loan.3.The borrower being removed has died.If we get approval via automated system...based on your qualifications that would be the easiest.

Oct 14th 2016
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

No.. HARP refinance transactions allow a borrower to remove a co-borrower (including ex-spouse) so long as one of the original applicants is still on title, you can refinance.. you must meet all eligibility requirements, but yes.. it can be done.. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 NMLS# 226347

Oct 17th 2016
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