FL Refi/Modification Options - No HARP

[LOL_Whut]

I knew someone in the same situation. Eventually they did a short sale because there was no other option to refi into a more reasonable payment. Unless BOA changes it's rate modification policy for your friend, I don't think there's much he can do. Sorry.

[atlmylife]

This process is so stressfull i had to modiffy my mortgage and i used a company which did a good job to be honest i dont have the time to make calls and follow up so i paid someone to do it
It wasnt a bad process and it helped me out big time. So if it works it works but having good advice really helps

[TipsyMcStagger]

I continue to keep an eye on the for my buddy. There's some renewed speculation that Congress might get HARP 3.0 pushed through sometime soon. But then again, there's been speculation for two years.

It's a shame so many won't get the opportunity to take advantage of the rock-bottom rates that have come and gone. But then again, it's a shame so many haven't had the opportunity to refi at any rate which would be an improvement over their current note.

Tipsy

[TipsyMcStagger]

Nearly two years later and still no Harp 3.0. Sad to see my neighbor/buddy stuck with this ridiculous mortgage and still upside-down.

Unwilling to "walk away" or short sell leaves them paying more than twice the interest rate currently available; all simply because their current loan is not backed by Fannie or Freddie.

Tipsy

[Pfhtex]

Originally Posted by TipsyMcStagger

Nearly two years later and still no Harp 3.0. Sad to see my neighbor/buddy stuck with this ridiculous mortgage and still upside-down.

Unwilling to "walk away" or short sell leaves them paying more than twice the interest rate currently available; all simply because their current loan is not backed by Fannie or Freddie.

Tipsy

Two years later, they should have recovered a good bit of value, even in FL.

[TipsyMcStagger]

Originally Posted by Pfhtex

Two years later, they should have recovered a good bit of value, even in FL.

Not enough.

Tipsy