Financing in Las Vegas>Question Details

Eric,  in 90001

Hi Folks, looking to do a HARP 2.0 Loan in Henderson, NV @ 150% LTV. Anyone have an experienced and reliable loan agent that they can recommend?

Asked by Eric, 90001 Mon Apr 16, 2012

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Hello Eric,

There is a 600 pound Gorilla in the room, that needs to be fed. I just have to ask, why would you consider refinancing a property (which is just like buying it for the first time) at 150% of its value? Your home will not likely ever reach the value that you are indebting yourself and your children to.

Let me ask it a different way; I have several homes for sale in the Las Vegas market, and would be more than happy to selling you any of them for 150% of their value... I'd even sell them to you for 125% of their value. Are you interested? If not, why would you be interested in getting a loan that does essentially the same thing?

This post will likely get a few of nasty comments, but let's look at this pragmatically. Consider this; The reason most people consider doing what you are going to do because 1) they feel obligated, or 2) do not want to mess up their credit. Or 3) some even say they are willing to pay so much more because they "Just love the home." How do you feel knowing that your neighbor paid half to a third the price you are into yours for? If this was your favorite stock that has gone down to half its value, would you keep it and ride it all the way to the bottom?

I say, a house is an investment. There are a lot of homes you can love just as much for so much less money. I also say, stop fretting over your credit, move off of this toxic asset, clean up your credit, and buy again down the road. It is even possible to purchase a home the day after you short sale. The difference is that while you may pay a bit higher interest rate, you also are paying 1/2 to 1/3 of the price of the home you currently own.

I am only saying what most feel, but are unwilling to articulate. But, I do understand your desire to be honorable to your loan obligation. I have 2 other properties that I bought at the peak of the market, am way upside down in (owe over $625,000 and worth less than $260,000), and I cannot seem to bring myself to jump ship..... so instead I am feeding the alligator and the Gorilla. Let's rearrange the deck chairs and go down with the Titanic together, knowing we have been honorable.

Best of luck, and thanks for reading.
1 vote Thank Flag Link Mon Apr 16, 2012
Great Answer Steve....
Flag Fri Aug 17, 2012
My home is currently on a yearly adjustable rate, which right now is currently at 3.3% but what other options do I have to get a typical 30yr loan on a home that has fallen so much in value?
Flag Tue Apr 17, 2012
Hi Eric,
You can contact me at 702-612-7099 or email
We have great professional knowledgable lenders that can help you with all your re-finance and new loans needs.
Rena Levy
Realty Executives of Nevada
Web Reference:
0 votes Thank Flag Link Tue Apr 17, 2012
I work with several Lender.
You can contact those loan officers on your choice.
They can help you with pre-approval letter

Mortgage Specialist
Castle & Cooke Mortgage LLC
6900 Westcliff Dr -8th Floor
Las Vegas, NV 89145
702-304-8332 Office
702-595-6881 Direct

Eugene Prospero
Mortgage Consultant
All Western Mortgage
8345 W. Sunset Rd. #200
Las Vegas, NV 89113
NMLS 14210
Direct: 702.324.2377
E-Fax: 888.858.2377
0 votes Thank Flag Link Tue Apr 17, 2012
Yes, Unlimited LTV's are available but your Fico must be at least 700. I have already refinanced several clients.
Please call me and we can discuss. We are a Mortgage Broker and have several Banks we use to do the Harp program to fit you in the right program. Johnny Peters, North American Financial 939-2474
0 votes Thank Flag Link Mon Apr 16, 2012
I have someone very good that may be able to assist you with your refy re HARP2
0 votes Thank Flag Link Mon Apr 16, 2012
Sure, fill out the pre-qualify form on my site and an experienced & reliable lender will get right back to you to discuss your refi options.
0 votes Thank Flag Link Mon Apr 16, 2012

I'm a local lender here in Las Vegas, NV. Give me a call so we can together evaluate your HARP2 refi scenario.

Eugene Prospero
All Western Mortgage
0 votes Thank Flag Link Mon Apr 16, 2012
I was going to recommend John Paul Mulchay from Alderus and I see he already answered here! Give john Paul a call, he's awesome. (702) 267-9443
0 votes Thank Flag Link Mon Apr 16, 2012
I work with several Lender, but this one actual get's all the paperwork done upfront this way
there is no mess up along the way..
Mike Newman - Sr. Marketing Advisor
North American Financial
1700 Horizion Ridge Parkway, #200
Hendreson NV 89012
Henderson, NV 89012
Cell: 702.275.5001
Off: 702.939.2453
eFax: 702.548.6869
Website Address
NAF NMLS# 180736

He is indeed a professional person, and I like knowing he is taking care of my clilents matters..
0 votes Thank Flag Link Mon Apr 16, 2012
Hey there-

Darren F. Linneman
(702) 493-1924

He is great- very knowledgeable- former head of wells Fargo branch- now runs his own shop and very reliable
Web Reference:
0 votes Thank Flag Link Mon Apr 16, 2012
Hi Eric,

I would be happy to evaluate your current loan to see what terms could be offered via HARP 2.0. I have worked on more than a dozen during the last month and have seen just about everything. Second lien resubordinations, re-certifications of mortgage insurance, crazy high loan to values, etc. I am in the office 9-6 daily. Feel free to contact me to set up a time to speak.

Best regards,

John Paul Mulchay
0 votes Thank Flag Link Mon Apr 16, 2012
My lender partner, Anthony Washington at All Western Mortgage has been doing my clients HARP 2.0 refi's. You can reach him at 877-686-3526 or
Best of luck!
Mary Preheim
0 votes Thank Flag Link Mon Apr 16, 2012
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