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I live in Northern Virginia. I would like to apply for HARP refinance program. I called CITI and WELLSFARGO they said they wont do HARP refinance if I do not have loan with them, Could you recommend any lender in northern virginia who can do HARP refinance. My home is in Virginia Beach.
My lender is GT Servicing. They said they are not licensed to do HARP program in five states. Virginia is one among them. So I have to go with other lenders. My home is in Virginia Beach. Due to job we had to move to Northern Virginia. Should I contact lenders in Virginia Beach or lenders in Northern Vigrinia. I have LPMI 30 years fixed loan. Value is $265k I owe $286k. Original loan i had was $321k. I have given the home for rent. I want to take advantage of low rates. My salary is 80k. My credit score is 736. I have 9k balance on credit cards and 20k in stocks.
You need someone who will/can do a HARP loan in Virginia. It doesn't matter where they office out of if they have the right to write loans in Virginia. I'd go to a broker at this point if you don't know of a local mortgage company or credit union to try.
And again, I don't believe it's a HARP issue preventing your lender from doing a HARP loan for you in VA. Either they aren't licensed to originate loans in VA, they are trying to avoid doing HARP loans at all, or they have an internal policy that they won't do HARP loans in those 5 states. The person you talked to wasn't completely honest.
If you can't find a list anywhere of Fannie Mae originators in Virginia, just make that your first question when you call banks. "Are you a fannie mae lender?"
I don't know how far underwater you are, it's true that a new bank is reluctant to take on another bank's "problem" loan. Still, these are guaranteed by the government/Fannie Mae, so you should probably be able to find somebody.
If you're interested in the new HARP 2.0, most lenders aren't administering it at all until at least March. I've called a million of them at least and haven't found one. We have a Freddie loan.
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