Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-23-2012, 06:07 PM
 
Location: Vermont
530 posts, read 1,340,476 times
Reputation: 530

Advertisements

Quote:
Originally Posted by theoldnorthstate View Post
Hang in there and bug your mortgage broker to keep on top of things

I did HARP 2 and am ever so glad. Once it got rolling it was done in a couple of months when they got their act together. They have to sort through fed regulation then bank regulations and such. but by now that should be sorted out and it is just underwriting to deal with (which seems a world unto itself).
Exactly so. I just hope we close within the rate lock period (30 days), or maybe I should say that I hope the loan just closes, period!
Reply With Quote Quick reply to this message

 
Old 12-19-2012, 10:12 AM
 
2 posts, read 11,771 times
Reputation: 10
Dear Jenny. The reason you might be getting declined for the HARP 2.0 refi could be a lack
of disposable income, the difference between your gross monthly income and your total
monthly obligations.
Reply With Quote Quick reply to this message
 
Old 12-19-2012, 01:00 PM
 
426 posts, read 1,908,806 times
Reputation: 130
I have a lot of experience with the government backed harp program.

Your dti has to be 31% for piti.

Then they have to figure out how long they can string your mortgage out at that level and how much the balloon would be at the end.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Similar Threads

All times are GMT -6. The time now is 01:53 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top