Any alternatives to HARP 2 for folks with perfect credit but not backed by Freddie/Fannie?

Ya.. that's a problem... you can try going back to your current lender, however I have heard little success.. President Obama has talked about another refinance program where those Non Freddie / Fannie / FHA loans will be able to refinance with lower rates... When he discussed this last year, a few months later they came out with HARP 2.0... so stay tuned... elections are approaching, so you will see it soon.. WilliamAcres.com

Be patient, I'm sure they will come out with another program to address your possible situation, its an election year!!!

If you are looking to refinance you current loans to reduce your rates, then unfortunately, you really only have one option at this time, and that is to see what you current lender might be willing to offer. However, depending on your credit and other resources, there may be a few other things to consider. I just helped structure a deal for a borrower who arranged an unsecured LOC with his local Credit union for enough money to pay down the balance of his mortgages to 95% and then we did a 30 year fixed rate at 4.125 with Lender paid MI. His plan is to keep paying the same amount they were paying before on the 1st & 2nd and apply the entire extra $ to the LOC to make it go away as fast as possible. If rates remain stable, it will be gone in just over 5 years and then he will only have the first mortgage. If you think something like this may work for you, contact a local Mortgage Banker/Broker rather than on of the big banks. You need someone who can think outside of the box, and right now, that's not them. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

I concur with the subsequent lender. Either you can check with your current lender to lower the rate, or wait for HARP 3.0, which will probably be a better deal for you. If you refinance with your current lender now, then HARP 3.0 may not be available to you because you already refinanced recently. For further clarification, please contact Randy Free at Opes Advisors. rfree@opesadvisors.com