HARP Refi after CH7 Discharge, Mortgage NOT reaffirmed?

[LadyInTheRed]

For information on the National Mortgage Settlement go to: http://nationalmortgagesettlement.com/help
Some State Attorney General websites may have more specific information. You can find your State Attorney General at http://nationalmortgagesettlement.com/states

To really get into the details, you can read the consent judgement for each Bank. Borrower eligibility requirements are in the exhibits.

Ally/GMAC: https://d9klfgibkcquc.cloudfront.net...ly-4-11-12.pdf
Bank of America: https://d9klfgibkcquc.cloudfront.net...oA-4-11-12.pdf
Citi: https://d9klfgibkcquc.cloudfront.net...nk-4-11-12.pdf
JPMorgan Chase: https://d9klfgibkcquc.cloudfront.net...se-4-11-12.pdf
Wells Fargo Judgment: https://d9klfgibkcquc.cloudfront.net...go-4-11-12.pdf

[gamama]

My experience of the day -

I have had more help from you all than any one else I spoke with!

btw: I am not looking for a guarantee or handout for getting my refinance. I believe, in good faith, I am a good risk to give money to, even though we went through hardship a few years back. Heck, even GM got a pass.

This morning, I started by calling BOA to get answers, left messate at 8:00am, it is now almost 3pmEST and still no one has returned my phone call! I just left another message.

I called the Freddie Mac/ Making home affordable 877#, 877-300-5454, just in case anyone wants to check
I was looking for specific requirements/guidelines. HARP 2: to be elibible - current on mortgage for last 12 months, backed by Freddie/Fannie, originated before 2009, LTV > 80% - Thats it! No credit requirements, no special instructions for borrowers w/BK before 2 years, no re-affirmation issues - I possed all those to my 'coordinator'. He told me that I'm free to shop arround. Was told that it is lender defined as to getting a refi - THERE ARE NO GOVERNMENT STANDARDS put in place to restrict me for getting a refi.

Shopped around, googled, etc...
Can't do it is the answer I received with 6 lenders. MUST BE 2 YEARS OUT OF DISCHARGE (we are 17 months)
The most helpful said that there is no way, I have to work through BOA if I want to refi. Back to BOA - URGH !

Called my state attorney office - they were NO HELP.

Looks like I'll be waiting until April 2013 - my fingers are crossed that we won't see much change in interest rates. My guess is that we will see inflation by mid-2013 though...:-(

Does anyone else see something wrong with the system?

We are well qualified and paying 38% taxes (fed & State - our fair share), No other debt except for mortgage and making 175k / year on W2 verifiable income.

The only thing holding us back is this BK - I know we need to be punished...but geez! The fed is lending money away to people far less qualified.

[dneil]

My experience of the day -

I have had more help from you all than any one else I spoke with!

btw: I am not looking for a guarantee or handout for getting my refinance. I believe, in good faith, I am a good risk to give money to, even though we went through hardship a few years back. Heck, even GM got a pass.

This morning, I started by calling BOA to get answers, left messate at 8:00am, it is now almost 3pmEST and still no one has returned my phone call! I just left another message.

I called the Freddie Mac/ Making home affordable 877#, 877-300-5454, just in case anyone wants to check
I was looking for specific requirements/guidelines. HARP 2: to be elibible - current on mortgage for last 12 months, backed by Freddie/Fannie, originated before 2009, LTV > 80% - Thats it! No credit requirements, no special instructions for borrowers w/BK before 2 years, no re-affirmation issues - I possed all those to my 'coordinator'. He told me that I'm free to shop arround. Was told that it is lender defined as to getting a refi - THERE ARE NO GOVERNMENT STANDARDS put in place to restrict me for getting a refi.

Shopped around, googled, etc...
Can't do it is the answer I received with 6 lenders. MUST BE 2 YEARS OUT OF DISCHARGE (we are 17 months)
The most helpful said that there is no way, I have to work through BOA if I want to refi. Back to BOA - URGH !

Called my state attorney office - they were NO HELP.

Looks like I'll be waiting until April 2013 - my fingers are crossed that we won't see much change in interest rates. My guess is that we will see inflation by mid-2013 though...:-(

Does anyone else see something wrong with the system?

We are well qualified and paying 38% taxes (fed & State - our fair share), No other debt except for mortgage and making 175k / year on W2 verifiable income.

The only thing holding us back is this BK - I know we need to be punished...but geez! The fed is lending money away to people far less qualified.

Yes, it does seem to be a catch 20. And unfortunately, I don't think the "national settlement" is going to do squat for any of us whom have put having a roof over our familiy's head as priority, vs some who have not been able to or were smart enough to take the risk and get behind.
I called bank of America as well, argued a bit on the phone with them and then he told me "if you affirm the debt" this will be settled and you can refinance with harp2. Nope. I am not going to. In fact, I will wait until the next mortgage forclosure "boom" happens and then perhaps check back with them. If they want my house... they can come and get it. It is a log home and needs a ton of work that I have not been able to afford because I have been paying the first mortgage with fannie mae at 998.00 a month, and the second which is a 199 with a balloon loan that matures in 10 years. Even though I have been paying an extra hundred on that second mortgage for the last year and a half, I am to the point where I am sick of beating a dead horse and reading all these "promises".... the national settlement is a joke. It does state what they are supposed to do under the settlement, but uh.... this isn't what is happening. So.... I guess they can have my bug (leaf cutter bees) infested house. I really am tired of it anyway and eventually I will get another. Somehow a tent doesn't sound all that bad, other than Winter in Michigan is freezing cold and my 5 month old son has Down Syndrome and also happens to be visually impaired and have a heart defect. Thanks Bank of America.... you've taken away what little Hope I had, and what little trust existed in me in regards to the government. They are all corrupt. But I tell you this.... God knows your heart. He knows your every secret. He knows.... and that is the justice that I am holding on to. He will make this right in the end.

Time for me to get my daughter. I am sorry to all who read what I wrote because honestly, everyone who said "not so quick" is right. This settlement has nothing to do with the hard working back broken workers trying to keep their homes.... it is about all the "others"... you know, the ones who run this country while we continue to believe that we actually have rights and a voice.

[himanshux22]

Why people don't rely on the HARP loan program. Either they don't trust government or Government plans are not trust worthy. I learned about HARP program from here http://www.mindxmaster.com/2016/07/h...uidelines.html and it sound great.