Can I re-fi and investment property under HARP?

Whoa, hold on there, partner. In the HARP world, it does not matter if a particular property delivers positive cash flow or not. The real question is "After the refinance, can you, the borrower, service the monthly debt requirements of all of your credit with all of your income?" If you can, and your Debt-to-Income ratio is within industry requirements, then YES you can refinance a non-owner-occupied property that has negative cash flow and negative equity. Many properties do not cash flow, but other income sources can be used to supplement the shortfall. Before you start thinking about Foreclosure or short sale, you need to sit down with a Seasoned Mortgage Professional to look at what your options really are. Rental properties can provide significant financial opportunities, and even if you are upside down, and having to supplement the shortfall, depending on the entire picture of your situation, hanging on may be the best option, especially if you are only a little upside down. But until you sit with a knowledgeable Professional, you won't know. Make sure you check out the credentials of the Mortgage Professional you choose at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Unfortunately with a credit score that low you unable to refi, even with HARP...Short sale is your best option but will impact your credit as will a foreclosure. Understand that a Deed in Lieu is still a foreclosure, the only real difference is you are saving the bank the legal hassle and expense of the foreclosure process, it really offers you no advantage. Talk to an attorney about it.

Click the "Find a Lender" tab and start calling from the list. Find Someone who will lhelp you with a low credit score. Other than the credit score, the fact that it is a non owner occupied property is ok for Harp 2.

Theoretically you can refinance under HARP, however your score is too low.. Most of the investors.. Even those with much better credit are being turned down... so you should be able to refinance under HARP, but because of your low score, you're probably not going to be able to.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Yes, you can but I would need additional information about the property and yourself. Ray hazucka

Speak with a mortgage broker not a big lender that covers IL. I think you should be able to refinance under HARP 2.0.

I don't ever recommend short sale or walking away. You are not that far away from having a FICO score that will be acceptable. The best plan would be to see what is causing your score to be so low and implement a plan to improve your credit report. Sometimes, improving your score is faster than what you may think.I am an Illinois lender. barb.lanis@1amllc.com 630-660-8868 NMLS#200598

Investment property is okay. Cash-flow is not an issue. Underwater is per-requisite. Fannie-Mae owned mortgage a must. <600 FICO score is a no. Make sure to get some legal advice since you reside an attorney state and a community property state. Good luck.