Are you only eligible for HARP with your current lender?

I don't know if Chase is just trying to get me to use them or if it's true. They said I can't shop around because no one else will approve me.

Re: Are you only eligible for HARP with your current lender?

I'm changing my answer based on this info from the HARP wesbsite:

Eligibility*
You may be eligible to apply if you meet all of the following:

You have a mortgage owned or guaranteed by Fannie Mae or Freddie Mac.
You do not have an FHA, VA or USDA loan.
You are current on your mortgage payments and have not been more than 30 days late making a payment over the last year.
You owe more than the home is worth, but your mortgage does not exceed 125 percent of the current market value of your home.
The refinance will improve the long-term affordability or stability of your mortgage.
You have the ability to make the new payments.
*Eligibility criteria are for guidance only. Contact your mortgage servicer to see if you qualify for HARP.

Program Availability
The HARP program is offered by many servicers. Homeowners should check with their mortgage servicer (the company to which homeowners make their mortgage payments) to determine if they are participating in HARP. If their mortgage servicer is not participating, the homeowner may contact other lenders that participate in HARP to determine if they are eligible for a refinance.


Now, what exactly are they telling you? Who are you working with? A specific lona officer or just someone at an 800 #?

Message edited 6/22/2011 9:14:00 AM.

Re: Are you only eligible for HARP with your current lender?

thanks! my mortgage is currently with Chase and they do take part in HARP with PMI. This is a mortgage broker telling me.

What I don't like is I can talk to 2 different people in Chase and get 2 different costs and rates!

Re: Are you only eligible for HARP with your current lender?