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Question regarding Refinance, Harp, Underwater

Great site.....I have a couple questions regarding possible HARP 2 refinancing I am hoping you can help with.Currently My wife and I currently own a small 2 bedroom rambler in MN.We owe 182K and the house on our taxes shows the estimated value at 170K.Our current mortgage is held with Bank Of America and the loan is owned by Fannie MaeOur current house payment is 1500 and we have a 30 yr fixed at 6.75%We met with a Realtor the other day and he immediately told us we should refinance. I have researched the HARP loan and I believe we qualify, we both have excellent credit and have never missed or been late on a payment.My Questions are:1. Is there anyone in MN that has been in the same situation and who did they use to refinance with?2. I don't think there are any other refi options out there right now being that we don't have any equity in the house? From what I read anyway.3. Is HARP the only option for us?Any info would be greatly appreciated.Thanks by kentwi_486_191 from Minneapolis, Minnesota. Mar 1st 2012 Reply


Steven Brand (stevenbrand)
#2 ranked lender in Minnesota - 111 contributions

The new HARP program is GREAT if you fit into the box. You are EXACTLY who this is targeted for as one of our SEVEN suggestions for borrowers who are UNDERWATER depending on specifics of their situation. Check out a good Licensed Mortgage Loan Originator (like me) to help you out. Steve@iLoanHomeMortgage.com www.StevenBrandHomeLoans.com 612.386.5306

Mar 1st 2012
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,970 contributions

Your situation is prime for taking advantage of today's awesome low interest rates under the HARP (Home Affordable Refinance Program). We do these loans everyday. Click my name to the left to learn more, or simply visit www.HARP-Refinance-MN.com for more information and to get your application stated.

Mar 1st 2012
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Dan Eveland (daneveland)
#20 ranked lender in Minnesota - 15 contributions

The HARP refinance will be your best bet. The HARP 2.0 is coming March 17th and will allow you to possibly refinance without an appraisal needed. My company does this full product direct with Fannie Mae and I'm local. Please call to chat. Thanks!Dan EvelandWaterstone Mortgage763-746-9919www.whatisyouraddress.com

Mar 1st 2012
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Jeremy Redlinger (JeremyR)
#30 ranked lender in Minnesota - 191 contributions

I have been helping a number of underwater homeowners refinance under the HARP program and save hundreds of dollars on a monthly basis. As a mortgage broker with PRC Funding I also have access to a number of different lenders to help you find a HARP program that meets your needs. The HARP program is the only reifnance program available for those who owe more than what their home is worth, but there are other refinance programs available if you are not underwater.I would be more than happy to assist you in finding a refinance program, please give me a call at 763-957-0858 and let me show you what I have to offer.Jeremy RedlingerNMLS #627335PRC Funding763-957-0858

Mar 1st 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

The new HARP program was intended for people just like you.. Contact a LOCAL mortgae broker, not a bank and apply with them... WilliamAcres.com

Mar 1st 2012
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Chris Reineke (creineke)
#7 ranked lender in Minnesota - 2 contributions

Kent,My name is Chris Reineke with Wells Fargo Home mortgage. We can Refinance your home immediately with no lender costs, no appraisal needed and income documentation typicall needed on these HARP loans. THey are quick. painless and worry free. Contact me on my cell phone at 5072106495 or at my branch phone # 9527076600. Ask For Chris Reineke. When you do a refinance with Wells Fargo your closing costs are limited and you deal directly with some in the bank like myself. Call me know with further questions if you would like.Also my website is www.wfhm.com/christopher-reineke to take an application for approval today .

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

Unless you have 20% equity, HARP 2.0 is the best way to go. DO NOT use one of the big banks. Instead contact a local Mortgage Banker/Broker. We know that the pipeline (workload) of the big banks is going to get jammed up. Smaller Mortgage Bankers and Mortgage Brokers will have access to most all participating investors (banks) and can choose between the investors based on turn times. Because Mortgage Bankers have their own in-house underwriting, we can be more nimble than the big banks. allowing for more flexibility to choose the appropriate lender and Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Mar 1st 2012
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