+1 vote
I have a FannieMae loan and I'm looking for information and direction around a HARP refi and the Second Lien Modification program. Based on the AVM appraisal model, my LTV is around 135% (both loans combined, both taken out in 2008).

Due to sufficient income I was turned down for a modification on my first mortgage, which has resulted in a monthly payment increase from $1300 to $2300.  My HELOC payment will reset starting August 1st and my monthly payment will increase from $ 400 to $1400 a month. My credit score is 844.

Any assistance with how to approach the restructuring of my mortgage debt and make my total mortgage obligations more affordable would be appreciated.
asked Jun 8, 2018 in Refinancing by SJerseyJ

1 Answer

0 votes
HARP has been extended until December 31st, 2018. I have done many HARP with second mortgages. Most second mortgage companies will subordinate their second lien position when you refinance your first. You should have no problem. Your first mortgage lender will help you get the second mortgage lender to subordinate the second mortgage loan. Contact us back on this forum if you have any questions.
answered Jun 8, 2018 by GustanCho (106,540 points)

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