ING Home Loan-Underwater-Any Options?

There may still be some hope. Though you are not eligible for HARP2 as your loan is not owned by other Fannie or Freddie,you may still be eligible for a modification. I know people have had their loan modified without having to mess up theircredit, which has unfortunately been recommended by someone at so many banks over the past few years.You do need to show your payment is a hardship, and that could be a challenge for you if the rate is pretty low right now.But if you can show expenses are a challenge for you right now, you could be eligible for a modification of your loan.I could email you a professional who helps people with this and is very reasonable in cost. Among all the false claimsfrom people to help in modifications who collected money and ran, there are a few who continue to genuinely helppeople. However, you can do it on your own. Record conversations and keep a paper trail of everything you send tothe bank. If someone does not give you answers you are seeking try and go higher up.

At this time there is really nothing to help underwater homeowners like yourself. There are rumblings from the White House about addressing non-Fannie/Freddie underwater loans but currently they are just rumblings.

HARP 2.0 is for Fannie/Freddie loans.. You have a portfolio loan product, and it's really up to ING if they choose to refinance you... if your making your payments on time, there is no incentive for them to work with you on refinancing.. So going to them is a dead end... You could try a loan modification, however these rarely work, they almost always damage your credit, and if you make too much money, you're not going to get approved anyway.. you have to show a hardship, and be struggling to pay your payments... President Obama has been "Rambling" about a new refinance program for all those who have not been able to refinance because of the type of loan they have.. I'm pretty sure this is the real deal... it will be offered through FHA, so there will most likely be mortgage insurance, and an upfront fee as well.. You will also be subject to FHA loan limits, which for San Bernardino County is $500K. With elections approaching, I would guess we will see more about this pretty soon... so stay tuned... 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