Investor owned, out of state property..rented..current on payments, anyway to get loan mod..prop in MO and NC, live in CA. Not Freddie/Fannie owned.

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 prop owned by Bank of 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 at and county taxes are out of control...3000 yearly..HOA is really too much!

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Heather Hopkinson’s answer
Heather Hopk…, Agent, Concord, NC
Sun Jan 29, 2012
Feel free to email me the property addresses and I am happy to research these properties you to see if there are any options. Unfortunately, you will have to meet the same or similar requirements for the loan mod as you will or a short sale. You may have better luck modifying the second loan. My email address is:
I am happy to try and help any way I can!
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