Allow homeowners with PMI to refinance under HARP!

Many homeowners have been advised that they can refinance under the Home Affordable Refinance Program (also known as HARP).  This program is advertised on the Making Home Affordable Website

The guidelines claim that homeowners can refinance under HARP through their current lender or other lenders who service Fannie Mae and Freddie Mac loans.  However, many homeowners who need a HARP loan have mortgage insurance.  Even though these large banks and lenders support HARP, only a very small handful will do them if the loan has private mortgage insurance (PMI).

There are thousands of homeowners who have loans with mortgage insurance who need to refinance under this program!  A great example is Bank of America, who also now services all the old Countrywide loans and is the nation's largest lender.  They still won't do a PMI insured HARP loan!  Neither does Chase!  These lenders think it's okay to get government bailout money and not help the consumer when a government program is released to fix the problem.  

We once had a similar problem when these lenders had 2nd mortgages and didn't allow homeowners to refinance their loan under HARP, but that has since been fixed.  This is the last major hurdle in helping homeowners on this program.  Let's please get over this last hurdle and help our homeowners!



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    nancy bethley

    10 months ago Comments: -
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    smashing top seo, Russian Federation

    1 year ago Comments: TRnJTb Thanks again for the blog. Much obliged.
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    Carl and Amanda DeScott, United States

    1 year ago Comments: We've been trying for several months now, to no avail and getting further behind. Never been late with a payment, but each month is getting harder and harder. Maybe lenders want us to forclose. After all, we continue to pay as much and as long as we can at higher rate, then if we default, the lender gets paid in full by the insurance. Smells like scam to me!!!
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