HARP mortgage advertising...anything to it or just a come on

[Don Morris]

LOML keeps telling me it can't be true so don't even try to work the numbers. Anyone looked at it? Worth investigating? We do fit the parameter of amount of money owed left on our mortgage. LOML just thinks it's a ploy so some realty companies can get your phone number. Of course then they would din you with endless options.

[Nike Nihiser]

It would help if you explained what HARP mortgage is.

[Rich Engelhardt]

Q. Is your mortgage thru Freddie Mac or Fannie Mae?
Q- Are you "upside down" on your mortgage ? (owe more than the house is worth).

Yes to both of those & it might be worth your while to look into.
No to either or both & you can't take part in the program.

In nutshell - Freddie Mac and Fannie Mae customers often bought properties with less than 20% down. As a result, when the housing market caused values to dip, they were shut out of refinancing deals and/or home equity loans because their loan to value figure was all screwed up.

Harp is designed for those people.

[Brian Tymchak]

LOML just thinks it's a ploy so some realty companies can get your phone number. Of course then they would din you with endless options.

I don't think refinancing with HARP would have anything to do with a realty.

I don't think it would hurt to call and investigate. You might end up saving several hundred a month depending on your situation. I would move quickly though as with there being a new sheriff in D.C, HARP may not be around much longer. And interest rates are rising. Also, there has been a significant increase in real estate values across the country, so if you haven't had your property appraised recently, you might be in for a bit of a surprise..