A good portion of the HARP loans I have funded had been previously declined by another lender. The guidelines to HARP are very straight forward: Owned by Fannie/Freddie, obtained by Fannie/Freddie prior to 5/30/2009 (this means that your loan would probably have to had closed in March or early April, but the Fannie/Freddie sites will easily reveal the answer). Occupancy is not an issue: The program can be used equally for primary, secondary and investment property. Loan to value is not an issue: Loan to value can be 200%, if necessary. Mortgage insurance is not necessary, unless you currently have it. And, automated underwriting approval is required on all files.
HARP is actually one of the easier loan products to obtain; however, the confusion starts when individual lenders add their own over lays (additional guidelines) to the program parameters set by Fannie/Freddie. As a Direct Lender, my Company has no overlays and we have closed many, many HARP loans that were previously declined by other lenders.
Many lenders cap the loan to value on the program (the most common overlay). I know broker friends whose lender lists cap the program at 125%.
Obtaining a HARP loan is not impossible at all. And, determining if your loan is eligible for this program takes about one minute.
All my best,
"We Listen. We Care. We Deliver."