Asked by Rediva, Concord, NC • Sun Jan 29, 2012
Harp can only help those where Freddie and Fannie own the loan..we are screwed if it is privately owned..one prop owned by Bank of NY..no way to do mod or refi. Other prop is Fannie and working on that one...One in NC underwater...bought in 2007 at 210k, now at 150k, two loans...1 at 166k bal and 6.875% interest and 2nd at 30k balance and whopping 8.25%..I have done so much research and unless I choose to do Short Sale or FC...there are no other options I am aware of..unfortunately I do not qualify for government sponsored Fannie/Freddie Harp or Mod programs..thanks for any info. Losing 500 monthly as rent has gone down 3 times since 2007..Was at 1400..now at 1200..city and county taxes are out of control...3000 yearly..HOA fees..it is really too much!
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