HARP refinance after Chapter 7

[imran93]

I was told by my current service provider that I am eligible for applying for HARP refinance with lower interest rate for a property that I want to keep. The original loan was discharged in Chapter 7 but my payments are current

I was just checking to find out if anyone had done HARP refinance after Chap 7 discharge without reaffirming the loan

Thanks

[tiger4life]

Bump

[justbroke]

I was told by my current service provider that I am eligible for applying for HARP refinance with lower interest rate for a property that I want to keep. The original loan was discharged in Chapter 7 but my payments are current

I was just checking to find out if anyone had done HARP refinance after Chap 7 discharge without reaffirming the loan

I do not know why anyone would refinance a discharged loan. Even if the refinancing saved $100/month in mortgage payments, you really need to think about what refinancing the debt does. Additionally, you should really look at your equity position. If it's negative equity exceeding 10%, then this is a no brainer; never refinance a discharged underwater debt.

The new HARP requirements seem to allow, just as FHA, reduced seasoning requirements. The question is really whether it's the best financial decision.

[servingsize]

I would pay more for a property like I am currently, for the ability to walk away free and clear at anytime I want. It puts you in a great position. Think very hard before you sign any paper work and talk to your attorneys.