Posted on: 11th Nov, 2012 11:24 pm
I had a question about this HARP mortgage program. My home is currently under water by about 200,000 and I owe $900,000 on a 1st and 2nd. I have not yet missed any payments, my mortgage is owned by Freddie Mac and I still have decent credit. I refinanced my 1st mortgage in 2007 into a 30 year fixed. My loan is with Bank of America and when I applied for HARP, they said I am not eligible, but didn't explain why. Can I be turned down by BofA?
Hi Sovourn,
It is BofA who will be able to explain you the reasons as to why you won't qualify for HARP. You should contact BofA and reapply for it. If they reject you for it, then ask them to let you know why you won't be able to get qualified.
Take care
It is BofA who will be able to explain you the reasons as to why you won't qualify for HARP. You should contact BofA and reapply for it. If they reject you for it, then ask them to let you know why you won't be able to get qualified.
Take care
To check your eligibility for HARP loan, go through this http://www.freddiemac.com/avoidforeclosure/harp_eligibility.html and check your potential eligibility for HARP loan.
To know about HARP, you can go through this page http://www.mortgagefit.com/blog/harp-newguidelines/