None Gov Backed Investors

At this point, there is only chatter about a HARP 3.0 that would open up the program to non-Freddie or non-Fannie backed loans. We are hopeful that a deal can be struck. No word yet.

If you have an FHA, VA or USDA loan we can do a streamline refinance. If you don't have one of those then your best option is to wait until HARP 3.0 comes out. That will open up the program to other types of loans. Let me know if I can help. P: 888-320-7888 - Ken@MortgagesforAmerica.org

That's just how the program is set up. Individual investors may have their own internal programs, so you can inquire directly with your servicer. If you have even a small amount of equity, you could consider a FHA Insured Refinance which will go to 97.75%. If I can be of help, I'd be happy to discuss options with you. We are a Nationwide Direct Lender, so please feel free to contact if you need help! Thank you.

Fannie Mae and Freddie Mac are quasi-government entities. They now are the owners of a vast majority of mortgages in this country. While one may make your payment to one institution or another, they just service the loan and do not actually own it. The reason that only Fannie Mae and Freddie Mac owned loans are eligible for HARP 2.0 is because it is a government program.

There is relief for other homeowners that have FHA or VA loans - you can do a streamline refinance with those programs. There is also talk about a HARP 3.0 coming out in the future that will open up the current program to loan programs that are not backed by Fannie Mae or Freddie Mac, but unfortunately there is no set date for that.

The answers you have got from all the other fine mortgage professionals is right on target and I agree with all of them . For Florida loans call Craig Prickett at Loan Simple. "We make it Simple" www.firstfloridafin.com 954 558-4430 direct/text

FHA, Rural Development and the VA have simular (usually better) programs. You'll want to talk to a lender and check out all your options.