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Old 06-23-2012, 05:51 PM
 
Location: GoJoe
713 posts, read 1,250,555 times
Reputation: 306

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has anyone done a refi as a HARP 2.0 refi, and if so by which lender?

what i am finding is, many lenders say they do HARP 2.0 but in reality they dont use DU Refi-Plus, they simply do their own refi and many times they change the rules, which is in fact not a HARP refi.

another question is, i recall reading docs (need to go find them again) about Fan Mae HARP refi, in that if the loan had pmi the refi requires the pmi to carry-over at same or higher coverage, and that the existing level of homeowner paid principle % (principle to original sales price) remains intact. my current pmi company (defunct PMI) will re-issue current pmi cert for HARP refi's, etc.

i got a GFE from a mortgage broker ("broker" = middle man and you pay more) but it looks like a brand-new loan, zero down, but the 22% pmi level is reached in year 2029 !! so, this does not look like a HARP refi like they said it was.

anyone else running into this same problem?


anyone have Seterus as their servicer? as i inderstand it, servocers simply provide the resources to collect mortgage payments on behalf of a lender. so, i should be able to ask Seterus who my current lender is, or can they hide that info from me? thus far i have not contacted the current lender because i dont know who current lender is, i only know Fan Mae owns the loan.....
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Old 08-07-2012, 07:37 PM
 
Location: GoJoe
713 posts, read 1,250,555 times
Reputation: 306
anyone
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Old 08-27-2012, 08:42 PM
 
Location: Long Island, NY
1,756 posts, read 3,150,925 times
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I refinanced my underwater condo under HARP in December...I had to get PMI (no choice). It is only $95 a month (used to be $105 on my old loan). When you refinance, your loan is processed as a new loan.,so I am not sure what your questions is re: that.
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