Q&A: Anyone had any success with the making home affordable/loan modification program with chase.?

Posted on Sep 25, 2012 in HARP Refinance

Question by vinny: my house was bought i 2005. my 5/1 arm expires oct.1 2010. the govt. refinance program(harp)?
expires june 2010. does it mean that i have to rush and refinance before june 2010 even though 5/1 expires in october 2010, discount cheap (assuming that i may owe more than the value). what is the best thing to do?

Best answer:

Answer by The Mortgage Banker
You may also consider other programs as well through Fannie Mae and Freddie Mac. If you’re loan is currently with Fannie or Freddie there are options for you that allow a refinance of you’re home even if you owe more than it’s current market value. You can check to see if Fannie Mae or Freddie Mac own you’re mortgage by going directly to Fanniemae.com or Freddiemac.com and use the property look up tool.

If it is owned by Fannie or Freddie get in touch with a good lender to see if they can help you refinance.

Should you refinance now – YES. Why? Because interest rates will most likely not return to the current lows we are now experiencing for many years to come. And with all the goverment borrowing we can expect to see inflation hit the market in the future which will lead to higher interest rates.

Please let me know if you have any questions. I am a California Lender.

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Question by ashleys7786: Anyone had any success with the making home affordable/loan modification program with chase.?
I have been calling since March and get different directions every time I call. I did the application over the phone twice now but when I call to check the status, site they say it isnt in the system. I’m going to send everything in the mail tomorrow. I was just wondering if anyone has had any success with the program, especially with Chase.

Best answer:

Answer by Lena
I’ve completed my 3 month trial with Chase and now they’re just stalling. I was suppose to get me permanent mod in July but that is not happening. All of a sudden I became “MAY not qualify for the mod” from being qualified originally.

I’ve contacted the executive team and they are looking into it.
You should call the executive team 800-242-7399. they will help you expedite your application. good luck

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