Comments on: Obama Administration’s “Home Affordable Refinance Program” EXTENDED!

By: Nik

Nik — Tue, 13 Sep 2011 23:02:08 +0000

Hi!

I am based in CA and have a loan of approx. $ 590,000. The current appraised value is approx. $ 560,000 and so I should qualify for the HARP program; howver my bank (Wells Fargo) informed me that Fannie Mae or Freddie Mac does not own my loan and so they cannot put me under the HARP program. Do I have any options?

Any comments from anybody else?

By: John

John — Sun, 21 Aug 2011 18:56:20 +0000

if you refinance with an Freddie Mac Open Access loan (due to decline in housing market), what restrictions are there to refinancing again (with a FM Open Access loan) in another 2-3 months if rates continue to decline?

By: John Evan Miller

John Evan Miller — Tue, 19 Apr 2011 18:43:57 +0000

This is exceptional information that brings more clarity to a previously vague topic. It is great to see that the extension is occurring. I am disappointed in the $88 million cut in housing counseling; however, it is good that some things are still being done to help homeowners.

By: Seattle Mortgage Reel News, March 27, 2009 | Business Management

Seattle Mortgage Reel News, March 27, 2009 | Business Management — Tue, 05 Apr 2011 08:29:48 +0000

[...] Here is the link for Fannie and Freddie:http://www.themortgagereel.com/obama-administrations-home-affordable-refinance/ [...]

By: Seattle / Bellevue Real Estate Mortgage Rate Watch 4/4/11 | Seattle Home Mortgage

Mon, 04 Apr 2011 17:20:28 +0000

[...] many home owners who want to refinance and are undervalue. You can check your home loan by clicking here for more information. You can also contact us and we will gladly offer our [...]

By: Ryan Serini

Ryan Serini — Sat, 03 Jul 2010 02:54:57 +0000

This is a smart blog. I mean it. You have so much knowledge about this issue, and so much passion. You also know how to make people rally behind it, obviously from the responses. Youve got a design here thats not too flashy, but makes a statement as big as what youre saying. Great job, indeed.

By: NNAMDI

NNAMDI — Fri, 29 Jan 2010 00:26:42 +0000

I am at the verge of refinancing my loans (1st @ 7%/2nd @9.104 % both fixed) totaling $237,815.26. 1 am being offered a new loan of $258,825.00 @ 5% 30yr fixed with the cost of credit at a yearly rate of 6.555%. Finance charge within the 30yr period $306,594.23 and amount financed $235,676.33 giving a total of $542,270.56. Is this a good deal? My 1st and 2nd loans are conventional, but I am trying to refinance through a credit union with FHA loan.

By: monica

monica — Tue, 19 Jan 2010 07:38:29 +0000

I qualify for the Home Affordable Refinance program. Our current servicer is willing to refinance. Does this mean that I don’t have the option of “open access”? If I have the option, where do I find a list of Freddie Mac loan servicers?

Monica,

Open access allows you to check with any lender who has financing options with Freddie Mac. As far as a list goes, I would talk with a local broker who might have more options to shop vs. one bank.

For example, if you are in Washington State, I would be able to provide further loan options and lenders who offer the Freddie product.

Thanks and please ask more questions directly at info@themortgagereel.com

By: TRAN

TRAN — Thu, 14 Jan 2010 00:33:42 +0000

Can i refinance my primary home, when i have 5 other mortagaes

By: Dawn

Dawn — Tue, 12 Jan 2010 18:18:51 +0000

No updates that I know of. I do have a mortgage broker that is willing to do my refi. (he can do it because it qualifies for the “open access” program because my loan is now with a servicer (CENLAR). The problem is that my 2nd is with Bank of America and I have not been able to get the right person on the phone to give me the subordination guidelines. I don’t want to pay the subordination fee and the appraisal fee if Bank of America is not willing to subordinate. Between my 1st and 2nd mortgage I owe about what the comps. in my area are, but I need B of A to tell me if they will subordinate.