Making Home Affordable Refinance Program Frequently Asked Questions – FAQ

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Lots Of  People Looking To Refinance

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A couple of days ago I did a pretty long post talking about the new “Making Home Affordable” program that the Obama administration passed earlier this year.  In that post I  gave a 10,000 foot view of the plan, what it is designed to do, and who will qualify for help under the program.

Based on the comments and emails I’ve received on the topic, it seems like a lot of people are trying to take advantage and refinance their existing loan.  Rates are low, and the program makes it easier for folks whose equity has dropped significantly to refinance their loans without having to worry about paying private mortgage insurance.

So if you’re looking for a quick overview of the refinance program and who qualifies for it, please head on over to our post from 2 days ago HERE.  Otherwise, today I thought I’d expand on the previous post and do a Making Home Affordable Refinance FAQ to answer some of the most common questions.  Tomorrow I’ll write up a FAQ for the Making Home Affordable Loan Modification program. (Update: Modification Program Updated To Cover Second Mortgages)

Making Home Affordable Refinance FAQ

After reading through the various resources talking about this program online, here are some of the most common questions that I’ve seen.  So let’s jump right in!

  1. I’m current on my mortgage. Will there be any help for me in the Making Home Affordable program? Eligible borrowers (see the previous post about who is eligible) who are current on their mortgages but have been unable to take advantage of  lower interest rates because their homes have decreased in value, may now have the opportunity to refinance. Through the Home Affordable Refinance Program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they own or that they placed in mortgage backed securities.  This was good news for us because we are current on our mortgage, but our value has really dropped like a rock!
  2. How do I know if the refinance will improve the long term affordability or stability of my loan? The program won’t necessarily help everyone, and you need to be sure of what you’re getting into.  Your lender will give you a “Good Faith Estimate” or GFE that includes your new interest rate, mortgage payment, closing fees and the amount you will pay over the life of the loan.  Compare this to your current loan terms and you should be able to figure out if you’re getting a good deal or not. If it is not an improvement, refinancing may not be right for you. You can also eliminate risk from your current situation by refinancing an ARM loan or Interest Only loan into a fixed rate mortgage, increasing the stability of your situation.
  3. I owe more than my property is worth. Do I still qualify to refinance under the Making Home Affordable Program? Eligible loans will include those where the first mortgage will not exceed 105% of the current market value of the property. For example, if your property is worth $300,000 but you owe $315,000 or less on your first mortgage, you may qualify. The current value of your property will be determined after you apply to refinance.
  4. Will refinancing reduce the amount that I owe on my loan? Nope! The  Home Affordable Refinance plan is meant to help borrowers get into loans that are more affordable.  Refinancing won’t reduce the principal amount you owe to your mortgage company, however, refinancing should save you money by reducing the amount of interest that you pay over the life of the loan.
  5. How do I apply for a Home Affordable Refinance? You should call your mortgage servicer and ask about the application process for the Home Affordable Refinance Program. Lenders and servicers are implementing the program now and it may take time before they are ready to process all applications. In fact, if you’re calling right now, some lenders are still getting up to speed on the program – but it doesn’t hurt to call and ask, some are further along than others. In the meantime, it will help your lender and speed up the application process if you gather some information and documents before you call. Some of those documents include income documents, tax returns, information about any second mortgages, amounts due on credit cards, student loans and other debts.
  6. Will I need mortgage insurance? Maybe.  If your existing loan has private mortgage insurance, you will need the same amount of insurance coverage for the  refinanced loan. If your existing loan does not have private mortgage insurance it will not be required as part of the Home Affordable Refinance.  This is good for us because it means we won’t have to start paying PMI.
  7. How long will the Home Affordable Refinance be available? The program expires on June 10, 2010. You have to finish your refinance transaction on or before that date.
  8. I am delinquent on my mortgage. Will I qualify for a Home Affordable Refinance? No. You can’t have been delinquent or have been 30 days overdue more than once during the past 12 months or you will not qualify. You should contact your servicer to see if a Home Affordable Modification is an option in your circumstance.
  9. Can I get cash out to pay other debts? No you can’t. However, if your loan is owned or securitized by Fannie Mae you might be eligible to finance all closing costs and obtain a small amount of cash (2% of the mortgage amount not to exceed $2,000) through the refinance if there is sufficient equity. I wouldn’t suggest it though.

So there are the answer to some of the most common questions about the Making Home Affordable Refinance Program.

In our next post I’ll examine the refinance program’s sister program, the Making Home Affordable Loan Modification Program.   We’ll take a look at some of the most commonly asked questions for that program, and supply the answers to the ones we  can.  Look for it!

Do you have more questions about the Making Home Affordable Refinance Program?  Ask us in the comments and hopefully I or another commenter will be able to find the answer!

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Last Edited: 13th May 2009

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Comments

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  1. judy says

    I think Obama has oversimplified the question of re-financing. You see, for many individuals, the situation it is not optimal. We have heard of people getting a loan modification, only to learn their new mortgage payment is more. This can happen if your credit situation has decreased. There are other situations in which you should avoid refinancing. So think carefully before you jump on the bandwagon. While it is a very good time to refinance for many people, make sure you review this checklist:

    http://tinyurl.com/refinanceobama

  2. Sandra says

    Countrywide holds my mortgage, I have called them 10x’s at least since the affordable Refinance Launch. In the beginning of March, I was advise there was not such program, it was just talk and was never signed into law.

    The following week I called again, and was told I was given miss information, and the reason is they have no guidelines and to try next month.

    I thought this was ridiculous, so I contacted Freddic Mac to confirm information from Countrywide was false, but stated I had to work with the lender who has the original loan. So, I called several times the following week, the rep took my some basic information, gave me a conference number, and stated they will call in 2 weeks.

    Well 2 weeks has come and gone so I called again….the confirmation number ment nothing to the Rep, and stated to call back in other 3 weeks.

    Well on 4/17/2009, I was advise that Countrwide is not Refinancing loans with PMI. Ok..can someone please enlighted me…

    • Kristie says

      I too spoke w/them back at the end of March and they said the program was just getting launched so they gave me a “reservation number” and said I would get a call in a few weeks. My call did come on 04/18/09 and the lady on the other line asked what I had been calling about? When I told her I was interested in the affordable refinance program. After looking at a few things she told me me I qualified but I would have to pay 2.25 point which would be $9,000 out of pocket. Are you serious?

  3. Richard says

    The making home affordable refinance program seems to be written just for me. I have never been late and the value of my home has decreased so much that I cannot get a refinance loan. I meet all the qualifiers as they are written for the new program. One qualifier is this one: Eligible loans will include those where the first mortgage will not exceed 105% of the current market value of the property. My FIRST mortgage is 163K and COUNTRYWIDE says my current home value is 162K (was 225K 2 years ago). I have a second mortgage for 40K. So, I seem to fit exactly into the qualifier…my FIRST mortgage balance is almost exactly at the current value that Countrywide gives using their valuation software. BUT, 3 different Countrywide reps say NO WAY, not even close am I to qualifying because they put my second loan into the figures and then my LTV is off the charts. I tell them that the program speaks only of THE FIRST MORTGAGE as a qualifer but they insist they must use the total of both mortgages. So….if this is true it means the program is useless to people in my situation and the calculations end up being exactly the same as trying to refinance before the program. We will not qualify because the values have dropped so much and cannot get a refi loan based on very bad LTV. “This program will help those homeowners who have made payments on time and have been unable to take advantage of low rates thus far because of declining home values”. Ok,what am I missing here?

    • Joel says

      Richard I am in the same situation. I have the same scenario. Did you check to see who your first loan is backed by…hopefully Fannie/Freddie? Who holds the second lien? What you are missing is that you are dealing with the wrong department. Let me know the answers to my questions and I will let you know what action you can take.

  4. Joel says

    In reference to your FAQ Q&A #3 –

    “I owe more than my property is worth. Do I still qualify to refinance under the Making Home Affordable Program? Eligible loans will include those where the first mortgage will not exceed 105% of the current market value of the property. For example, if your property is worth $300,000 but you owe $315,000 or less on your first mortgage, you may qualify. The current value of your property will be determined after you apply to refinance”.

    If you read the Making Home Affordable Guideline 2 section A roman numeral vi it reads “Second Liens: While eligible loan modifications will not require any participation by second lien holders, the program will include additional incentives to extinguish second liens on loans modified under the program, in order to reduce the overall indebtedness of the borrower and improve loan performance. Servicers will be eligible to receive compensation when they contact second lien holders and extinguish valid junior liens (according to a schedule to be specified by the Treasury Department, depending in part on combined loan to value). Servicers will be reimbursed for the release according to the specified schedule, and will also receive an extra $250 for obtaining a release of a valid second lien.

    In short this leaves an opportunity for principal to be reduced as long as the first loan does not exceed a 105% LTV.

  5. Stephanie Keezer says

    Under HARP, is it true that if you want to refinance more than 100% of your loan, then you have to pay 1.5% pts on the closing? Also want to know if you are refinancing through the same company under HARP, is is common to charge $475 application fee? Just wondering because my in-laws did something through their bank called a slim down where they only had to pay minimal closing costs and nothing else to get their rate lowered.

  6. Richard says

    Joel, as I wrote, I meet all of the qualifiers as they are written. (1) I am the owner/occupant of a 1-4 unit property, (2) My loan is backed by Fannie Mae, (3) I have never been 30 days late on a payment, (4) The amount I owe on my FIRST mortgage is within $1000 dollars of what my loan servicer (countrywide)calculates as the current value.

    But forget all that, Countrywide totals my first and second mortgages and the resulting LTV keeps me from being anywhere near qualifying. But something doesn’t make sense about this….

    • Dan says

      Richard, i am in the same boat. my 1st puts me under 105% ltv. my 2nd brings it slightly over. countrywide told me they add both to determine LTV to qualfiy for HARP. But the .gov website FAQ and every other source said only 1st needs to qualify. Now, because my total LTV is close they will refi but wants 2.5pts (on 4.875%). 2.5pts seems excessive. The funny thing is I really wanted to refi my 2nd which has a variable rate but i can’t find any bank that would do this thus far. Any leads would be appreicated.

      • Norma says

        I’m in a similar situation. I have no issue with my first mortgage since my rate on that loan is already low. My issue is with my second mortgage…8.75. Although we have no problems making our payments it just seems ridiculous that I can’t do absolutely anything to lower that rate on the second or even refinance to combine the two. My LTV for the combined is at 95%. I’ve called my bank for the second numerous times with no luck…basically, they can’t do anything for me unless I’m having financial difficulties. This is the way I’m seeing it…There is no help for responsible homeowners that manage to be conscious of living within their means. Instead, those that live beyond their means and have managed to spend the little equity they had are getting their principal’s lowered, their rates lowered beyond those that are even being offered to us with excellent credit. Here’s a perfect example…One of my co-workers lives way beyond her means, refinanced to the point that she spent over $100,000 of her equity, but yet she managed to have her mortgage modified to the point that they lowered her principal by $70,000 and recently received another letter to settle the second mortgage where she owed another $80,000 for $8,000. What is really going on here!!! This just makes me MAD!!!

  7. Lori says

    Regarding HARP, I am currently at 108% LTV, would a private appraisal be accepted? Or do I have to wait for comps to increase?
    Thanks

  8. Shak says

    Appreciate any help!!

    As i was reading this blog i came across few ppl who are under my sitiuation, I have two mortgages,
    The first is 250k and the second is 80k.
    My 80 k loan has higher interest rate, so i am willing to either, refinance this mortage or Combine two loans to get a lower interest rate, However the mortagage companies i have contacted so far say that i can only refinance the 250 k mortagage, which to me does not make sense as i have a good rate on this one , it is 80 k loan which is killing me. I Met all the terms of Home affordable ref Program but yet no help from any lenders.

    • says

      The government website says this about first/second mortgages:

      As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible for a Home Affordable Refinance. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage remain in a second position, and on your ability to meet the new payment terms on the first mortgage.

      that verbiage makes it sounds like the Home Affordable Refinance is only available on first mortgages?

      UPDATE: The government has released new information about modifying a second mortgage. click here

      • Jeremy says

        Peter,

        What do we do on these types of situations? Who can we call to help? Do you have a mortgage company that can help us in our situation?

        Thanks,

        Jeremy

  9. Jim says

    For #6. Where is the official verbiage that states you do not need PMI if you did not have it? I want to make sure we have everything in order before we have a broker try to saddle us with something we are not required to have.

      • Richard says

        RE:

        My first loan is with Countrywide for 163K, my second loan is with Citi Mortgage for 40K. This is an 80/20 loan package from 2006. The FIRST mortgage (Countrywide) is interest only and is backed by Fannie Mae.

        The way Countrywide’s HARP reps are treating callers is as if it is no different than the normal refinance application. Everything that I thought I read or understood about the program was inaccurate in their view. They talked of out of pocket closing costs which I read more than once in the guidelines that minimal closing costs could be rolled into the loan. They talked of (and checked) my credit score. The first rep said they valued my property at 179K, the second and third said it was 162K. How they conclude that I have no idea but their software is surely pulling the value as low as possible. They mentioned points and an interest rate that was near 7%.

        The only way the program can make sense and be beneficial with 2 mortgages is if it is as it reads. The new loan is an improvement on the first (larger) loan that is backed by fannie or freddie and calculations are only on that LTV being 105% or less. We know that the best thing would be to combine both loans into more favorable terms and that that is not going to happen. The second loan is unchanged and must agree to subordinate with it’s terms unchanged.

        After getting nowhere with 3 HARP “specialists they transfered me to a modification specialist who also seemed predetermined to disagree with everything I had read. In the end I asked…so what should I do, not pay for 3 months and call you back? She said yes, at that time we could try and help :)

        My basic unresolved question is really simple. I shouldn’t need to ask Obama directly on this one small but important technicality…is the second mortgage included in the LTV or not? The program makes no sense if it is and the program helps a lot of people if it is not:)

        I called my credit union when I saw that they were gearing up to particiapte in the new programs. They said they would only help people that had mortgages with them and only the ones that they had “sold” to Fannie Mae. I mentioned that after April 4th any approved lender could do a HARP re-fi and asked if they didn’t want the extra business? They didn’t seem to care and again said we only will do loans originated here.

        I would expect approved banks to want the new business even at low rates. They should be welcoming us and on top of the situation enough to guide us through step by step. But, for now I have nowhere to go except Countrywide. All in all, this whole program has created a big mess so far…..

        • Jeremy says

          I’m in exact same boat and have called half a dozen mortgage companies and can’t help me.

          I’ve been responsible and can’t benefit from the low rates, but people that are not as responsible are benefiting.

          Any help would be great if you hear any.

  10. AngryMan says

    I have a home loan of 210k through Wells Fargo. I have called this bank many times about refinance. Today, finally they told me I can do it through this home affordable refinance program. They want charge me $7800 for closing cost for the small loan. It is crazy to charge this high amount money. Why doesn’t the federal government allow brokers outside the bank to do the refinancing? The bank can ask as much as they like for closing cost. It is completely crazy to allow the bank to charge this high fee for this program.

    • Florida Homeowner says

      Because this is not the miracle program it got promoted as – all it will do is help a small percentage of homeowners refinance whose homes have not lost that much equity that they are still within 105% of the loan value.

      Closing costs still include appraisal fees (Wells Fargo $395), title insurance, doc stamps, “underwriting fee”, “processing fee”, etc.

      The part I don’t get is the banks get $5000 for every successful refinance or modification, plus $1000-$2000 in other incentives on top of the fees in the good-faith estimate. So they are making a killing – not sure why they are not more helpful – still think the banks are hanging onto their money for dear life and want nothing to do with anything other than low-risk loans for people with stellar credit and lots of equity in their homes.

  11. ConfusedCountrywideCustomer says

    I actually made it through all the hoops, LTV ratios are good even with 1st and 2nd, and Fannie has my back. I was able to speak with a representative, and we got through everything, only to find out that the rate quoted me was much higher than the market was offering. My current first is 6.25%. I asked for a 0 points quote, and they offered me 6.125%. After closing costs, this just isn’t worth it. My local credit union was offering 4.875% with 0 points that very same day. (Too bad my LTV is over 90%, or I would switch in a heartbeat!) Are there guidelines for what percentage rate lenders can charge under this plan? Are they pumping in all sorts of fees and higher rates so that this only becomes practical to homeowners who had outrageous loans to begin with?

    • Sherri says

      If you qualify for these gov. programs you shouldn’t be quoted such high rates. Try going through a HUD counselor. It does not affect your credit score (like “consumer credit counseling” can), and they can be a sort of liaison for you and your lender/loan servicer, which will be more effective than by yourself if you qualify. Local housing counselors can be found at the US Department of Housing and Urban Development’s web site at http://www.hud.gov/offices/hsg/sth/hcc/hcs.cfm

  12. Kevin says

    Thanks a bunch for the info. very helpful. I have a question with the loan modification. If you own an extra vehicle or have some assets or even a 401k are you expected to sell it before being granted a loan modification? thanks

  13. Sherri says

    On question #3, here’s an update: the Feds have extended the refi program to include those who are upside down by 125%.
    (up from the original 105%)
    Thank you for the info about PMI, I was wondering, but couldn’t find that info in the us treasury dept site. Where did you find it?
    Thanks

  14. Marita Sanidad says

    I am the primary borrower on a loan & my boyfriend is the co-borrower. We are no longer together and we both agreed that he should be remove from our mortgage so he can purchase his own house. Can I qualify for this HARP program to remove my boyfriend from the mortgage? I do meet the other requirements for the HARP program.

  15. WellsFargo Customer says

    My first conventional 15yr interest rate is 5.25, payoff amount about $93,000. My second equaty loan 20yr interest rate is 5.75, payoff amount about $149,000. I HAVE to refinance/modify to lower monthly payments since I will pretty soon not be able to keep up with payments.
    My first is backed up by Freddie, provided through Wells Fargo, while the secon by local federal credit union.
    Total first and second: about $245,000 / Freddie estimated home value $218,000, so LTV (loans combined) above 80.
    Credit history: excellent
    Wells Fargo offered me refinance only (through gov. program) on the first/ 30yr/5.25/5.58 APR after 2.5% origination fee, translating to about $11,000 in closing cost !!!! (4% of closing cost financed with loan, the other part cash). Savings on montly payment close to just under $500.
    Is anyone aware of program/bank/lender qualifid to earn trust and would refinance both loans? Even I can make saving rolling my first back to 30yr, my second is still a problem. Even more difficult to absorb for me is a feeling of beeing abused – $11,000 CLOSING COST. If I would have good savings to come up with about $7,000 cash, I probably would not be desparate to refinance all. Should Goverment have this program regulated before rolled out? My impresion is bank servicing Freddie’s loans (such as Wells Fargo in my case) are taking a full benefit while providing these re-financing services; since goverment approved them to be the only one eligible to provide this type of re-financing on Freddie backed up loans.
    Thanks, in advance!!

  16. Eric says

    Well, I called the HOPE hotline last night looking for help with Chase. They’ve been giving me some severe run-around and I’m tired of it.

    I have a 7/1 ARM at 6.25%, mortgage rates being currently around 5% it’s worth it for me to refinance. I made 3 calls to chase in the last week trying to get on the program since I’m underwater like 107%. Here’s all the things I’ve been told:

    1. I don’t have a fannie mae loan. (yes I do, I looked it up, made them look it up and fix it)

    2. They don’t refi loans with PMI (Fannie website says yes they do)

    3. My home valuation is $112k while my loan is for 214k. (Again, false, I had it appraised in the spring for $207k, and the county just appraised it at $204k for taxes)

    4. Because my originator was CTX, and Chase bought my mortgage, they won’t refinance it. (Fannie site says nothing about this preventing a refi, as mortgages are bought and sold by servicers all the time).

    They’re totally giving me the run-around. So the HOPE line escalation counselor is putting in a request to Chase, I’m supposed to call them next week and see what’s up. Thusfar though, the experience has been unbelievably bad. I’d change lenders, but it seems like I can’t.

    • Liz says

      Eric – I’ve been getting the same run-around from Chase for the last 3 weeks. I’ve spoken with 8 different people at Chase about refinancing my mortgage, and 6 of the 8 times I was simply told I was “inelible” – with no explanation about why my loan was ineligible. I finally got someone on the line who explained to me that b/c Chase didn’t originate my mortgage, my loan would not qualify to be refinanced under the HARP program.

      I wrote a rather lengthy and strong-worded email to David Lowman (david.blowman@jpmchase.com), CEO of home lending for Chase, and within in about 2 hours got a call back from someone named “Angie” who was going to give my complaint to their “escalation team” for further investigation.

      My point to chase was that it should matter who originated the loan, especially when 2/3 of all mortgages are sold into the secondary market almost immediately. Borrowers should be considered on the basis of their entire application, rather than disqualified on a factor they have no control over.

      I’m still waiting to hear back from the escalation team.

    • Molly says

      Eric,
      I have the exact same situation as you. Have you been able to resolve anything with Chase? Any advise you could give me would be very much appreciated.
      Thank you,

      • james says

        Eric/Liz/Molly;

        Were you able to get help and resolve your cases. I am being told by chase that since my loan was bought over from some other bank they cannot refinance under HARP. Please ..any advice…thanks

    • missue says

      After the senior loan manager at my local Chase branch looked at my account for about 6 seconds and said he couldn’t help me, I got on the phone with the Modify Way Forward Group, Fannie Mae and Chase Bank and proceeded to get transfered to 19 different departments including WAMU who Chase bought the loan from. Finally I reached a young man that seems to somewhat know what is going on and I have an application partially completed. I will be shopping around because they want a $395 non-refundable app. fee and I pay for an appraisal. We didn’t get into specific fees but they can be rolled back into the loan. There doesn’t seem to be any specialists for the HAR program. Very Frustrated! This guy said I could probably bring my APR down by a point. I want to get a loan for what the bank says my house is worth!

  17. gigi says

    I have submitted my Making Home Affordable application and all documents. How long does it take to know if I’m approved? I guess what I really want to know is how long have people actually been having to wait to find out the results?

    And has anyone done this successfully? How much did their payments come down?

    Thanks for any help provided!!

    • Yvette says

      Gigi- I submitted my paperwork on Aug 31, and the response I have been getting from Bank of America is that it takes 30 to 45 days. On October 20, I called again and they tell me that they will have further information on November 4th. Sometimes I feel that the banks truly do not want to help the customers. I have not heard of anyone who has done this successfully. I will have to wait until Nov to see if I will get approved. I wish you luck and the only advice I can give you is to not give up and keep calling them on the status of your application.

  18. Yvette says

    Gigi- I submitted my paperwork on Aug 31, and the response I have been getting from Bank of America is that it takes 30 to 45 days. On October 20, I called again and they tell me that they will have further information on November 4th. Sometimes I feel that the banks truly do not want to help the customers. I have not heard of anyone who has done this successfully. I will have to wait until Nov to see if I will get approved. I wish you luck and the only advice I can give you is to not give up and keep calling them on the status of your application.

    • Girlie says

      My husband lost his job and is on unemployment. We filled out all the paperwork and submitted it and was told it would take 30 days to process. It’s been exactly 30 days and we got our letter with our temporary payment quote in it. However, they only lowered our payment by a measly $100. How does $100 make up for the loss of someone’s salary? He makes $1100 less per month on unemployment. They might as well have reduced it by 25 cents…

  19. Jill says

    Our servicer is Cenlar and they do not do refi’s. They took over the mortgage when Taylor,Bean and Whitaker went out of business. When we have called a number of mortgage companies and banks. They said they only will service and do a refi or loan modification for their own loans. Who can we call to get a refi or loan modification?

    • says

      Jill, i’m in the same boat. have you learned anything? though i once had 20% equity, i’m now between 5-10%. i’m afraid approaching other lenders will result in a requried 2nd or PMI. Doesn’t this render the purpose of the home affordable refi useless? it seems that cenlar customers in our boat are out of luck for this option.

  20. Stressed-Out American says

    This is all very alarming and discouraging, especially for someone who is thinking of applying for HARP, due to the “under water” mess & even more so due to having been forced to retire early because of terminal illness (not to mention seeing one’s IRA value tank in the recent market crash).

    WHAT ARE THE BANKS DOING WITH ALL THAT MONEY THE O-ADMINISTRATION GAVE THEM, IF NOT HELPING PEOPLE KEEP THEIR HOMES??? Why isn’t the Fed. Govt. OVERSEEING the banks to see that these programs to help homeowners are being PROPERLY ADMINISTERED?? This whole mess is shameful, and all Americans must begin to INSIST on ACCOUNTABILITY from not just the banks but also from ALL elected officials and those “in charge” who allowed this nightmare to happen.

    P.S. Why aren’t there any DATES on these webpages, so we can know how old the content is? Please figure out a way to show the date or at least what WEEK it is, on top of your webpage, and also make sure the postings all show the date they’re posted. Many thanks.

  21. Stressed-Out American says

    There’s so much BAD FAITH out there–and that’s what caused this whole economic meltdown mess in the first place. :-(

  22. Rene says

    what happens to my second mortgage loan if i apply for home modification program.The interest rate is much higher.Does the 1st lender take on the second mortgage,having one payment only

  23. JJ says

    I understand that the Home Affordable Refinance Program is available on primary and secondary homes. Does it matter if the home was changed from a primary to secondary home after the purchase date?

  24. John Wright says

    If it walks like a piggy, talks like a piggy, by golly it’s a PIGGY!

    BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled “Piggies” I invite you to listen to this song on youtube and see if it appropriately fits.

    http://www.youtube.com/watch?v=NTmeHM-Hojg&feature=related

    Have you seen the little piggies
    Crawling in the dirt
    And for all the little piggies
    Life is getting worse
    Always having dirt to play around in.

    Have you seen the bigger piggies
    In their starched white shirts
    You will find the bigger piggies
    Stirring up the dirt
    Always have clean shirts to play around in.

    In their ties with all their backing
    They don’t care what goes on around
    In their eyes there’s something lacking
    What they need’s a damn good whacking.

    Everywhere there’s lots of piggies
    Living piggy lives
    You can see them out for dinner
    With their piggy wives
    Clutching forks and knives to eat their bacon.

    John Wright vs. Bank of America Lawsuit at:

    http://news.yahoo.com/s/prweb/20100323/bs_prweb/prweb3766544_1

    When I filed my lawsuit against Bank of America, myself and United Law Group thought of the many others out there in the same situation. It was then that we decided to educate the public on what these piggy banks are doing, as well as unite us all together as one voice. Please help me turn this David vs. Goliath modification process, into a Goliath vs. Goliath.

    Please stand with me and United Law Group and send an email to Bank of America that states that we will no longer tolerate their potentially illegal, fraudulent, irregular and abusive business methods.

    Divided we might have fell America, but united we must stand!

    Please send your email directly to Bank of America and include the following:

    1. Your name
    2. Your complaint concerning your experience with Bank of America.
    3. Please end your email “I support John Wright vs. BofA Lawsuit!”
    4. Please send a copy of your email to johns-wright@hotmail.com
    5. Please send your email to both BofA link below and the CEO email

    BofA Linked Email:
    https://www3.bankofamerica.com/contact/?lob=general&contact_returnto=&state=VA

    CEO Brian Moynihan:
    brian.t.moynihan@bankofamerica.com

    Matthew Task, Executive Relations
    Office of the CEO
    813-805-4873

  25. says

    Ahhh, a fellow Minnesotan!

    Have you heard or read anything about if it’s possible to qualify for a HARP refinance if a borrower has already done a loan modification or recently had there home listed for sale? I’m building my own FAQ’s for people in CA. Thanks.

  26. amy says

    I bought my home in 2008 and I owe more than the value of the home. I meet all qualifications for HARP. I rented it out from June of last year until June of this year. In June, I will re-occupy the home as I will have moved back to town. Since I rented it while I resided elsewhere for work (and claimed it as a rental on this year’s 2011 taxes) will I be able to refinance as a PRIMARY RESIDENCE under the HARP program if I refinance upon my re-occupancy of my home in July 2012?

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