Why aren't eligibale for HARP

The loan has to be currently serviced by Freddie Mac or Fannie Mae to be eligible for HARP. This may be the issue. I can certainly check for you to see if you want. Email me at jason@areahomelending.com and i'll get some quick info to help you.

It may be that the home itself is not eligible. To see if your home is, use these two search engines http://www.fanniemae.com/loanlookup/ to see if your home is serviced by Fannie and use https://ww3.freddiemac.com/corporate/ to see if Freddie Mac is servicing your loan If your loan is not on either of these lists, you would have to work with your current lender and see if they will allow a refinance with the Combined Loan To Value above 100% your first mortgage should be below 95% LTV and should be eligible for a refinace, but you are probably stuck with the current rate on the second. Good luck

You are over the 125% LTV based on the numbers you provided... but it's also possible your home does not qualify for the HARP program. If your home is eligible, and the only issue is that your greater than 125% LTV, hang in there.. new proposed changes to the HARP program are on the horizon and within a few months, it might be possible.. WilliamAcres.com

HARP II was announced yesterday. New guidelines should be out to lenders by the middle of November, with lenders actually doing the loans starting in December or January. Visit http://mnrealestatedaily.com for more information