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Is there anything like HARP for non fanny may or freddy mac loans?

Our home is neither, we are upside down and need to cut payment. HELP! by RoseWhitmore from Elkton, Maryland. Aug 14th 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

FHA has a streamline refinance option where you can refinance without an appraisal.. your loan has to be an FHA loan now in order to qualify.. Also if your loan is currently a VA loan, you can sue the IRRRL option and no appraisal would be necessary for most lenders.. Also, USDA has a pilot streamline refinance program which is intended for borrowers with an existing USDA loan, however it's only available in certain states, but Maryland is not one of them.. other than that, you will have to wait to see if HARP 3.0 every come to reality.. if it does, you might have a way to refinance.. 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

Aug 14th 2013
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Hi Are you positive that your loan is not fannie mae or Freddie Mac? FHA has a program also called a FHA streamline

Aug 14th 2013
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Hi Rose, you should work directly with your current lender to negotiate that debt.

Aug 14th 2013
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What type of loan do you presently have?

Aug 14th 2013
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Elden Lewis (elewis_409_299)
#42 ranked lender in Indiana - 223 contributions

The only thing that comes to mind is an FHA streamline refi. You should contact your current servicer and look into a loan modification.

Aug 14th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Contact your present lender.

Aug 14th 2013
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Ernesto Marez (Ernesto)
#68 ranked lender in Maryland - 137 contributions

I assume your have a conventional loan and not an FHA, VA or USDA loan?HARP 3 will allow you to refi even of your upside down, only thing is one is sure when the HARP3 program will be available.

Aug 14th 2013
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Michael Zimmerman (MichaelZimmerman)
#62 ranked lender in Virginia - 36 contributions

First thing would to find out what type of loan you have??? Then contact one of our local branches in Maryland. www.southerntrust.com

Aug 16th 2013
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