patrick.net

Here's a link to MSN article about HARP, designed to help home debtors qualify to refi high interest or ARM's.

"When the real-estate bubble burst five years ago, the federal government intervened and created the Home Affordable Refinance Program (HARP). Through direct lenders, HARP has successfully helped many homeowners refinance out of high risk, subprime and adjustable rate loans into low fixed-rate mortgages. With the recent extension of HARP through 2015, the government expects millions more will benefit from the program.

""To prequalify for HARP there are two critical requirements of a homeowner and their loan," said George Adair, area manager for Bay Equity Home Loans. "First, your current mortgage must be owned by Fannie Mae or Freddie Mac. Secondly, Fannie or Freddie must have purchased the loan prior to June 1, 2009."

http://realestate.msn.com/how-to-refinance-your-mortgage

I met neither of these qualifications. I had a conventional mortgage, not high interest (4.5%) and no problems. So how did I qualify - and did WF get a pat on the back for helping me? Their paperwork said "HARP" all over it. (I did post about my encounter, which involved horrible communication and their tendency to blame their lack of organization on me...).

Just curious as to whether WF has expanded the program to make them look great. I have equity and good credit. Just not smart enough to take the money & run in 2006.

#housing