Today I took a small step....

iVillage Member
Registered: 10-01-2008
Today I took a small step....
Tue, 07-02-2013 - 4:15pm

A couple of days ago we got a letter from our mortgage company saying that the HARP plan for mortgages had been extended.  I called the number on the letter to see if there was any way possible, even with us in Chapter 13) to refinance the house.  She said she would certainly look into it that we qualified on all levels so far.  I told her that we had to have the Trustee's blessing if we proceeded and she understood. 

Paws crossed......I'll give it a 3 out of 10 chance of happening!

Wish me luck!

Community Leader
Registered: 08-25-2006
Tue, 07-02-2013 - 4:34pm

Good luck!  Wouldn't that be something if you could?  If not, you can always throw extra at the principal when your payments are done. 


iVillage Member
Registered: 10-09-1999
Wed, 07-03-2013 - 10:31am

Certainly doesn't hurt to try...good luck!  Keep us posted


iVillage Member
Registered: 11-14-2008
Wed, 07-03-2013 - 10:34am

OH I hope this works out!! That would be so great!!!!

iVillage Member
Registered: 04-08-2008
Thu, 07-04-2013 - 12:56am

Why would you want to refi? Is this to lower payments or amortization periods?

I am just curious why this is a good thing. But if you want to do then I hope they let you!



iVillage Member
Registered: 12-31-2010
Thu, 07-04-2013 - 10:57am
If you keep on them, write letters with your history of pay-off so far and keep it on the front burner, you may well be able to get it. We used HARP for ours and went from a 21 years left on our mortgage a 5.35% to 15 years on a 2.9% note, saving us $70,000 on total interest costs. We were required to roll the taxes and insurance into an escrow account, which DH balked at, but for me, it is easier on the budgeting to have that come out a little at a time as opposed to a $2700 bill at once. I actually think we are ahead in our escrow so far, so our payment might actually go down a bit next year to balance that out. Actual payment is about $50 more a month. So hope you can take advantage of this. You would have all the debt paid and lower total housing costs - wow, double bonus! What is your current rate? How many years?
iVillage Member
Registered: 10-01-2008
Fri, 07-05-2013 - 3:50pm
You nailed it Marie. We're at 6.875% on 30 yr/ but down to about 23. I'd like to do it on a 15 yr. amortization. We already escrow and I am so use to that. DH is on his way to another big bonus it the rest of the year holds out. Got to get my thinking cap on.