My mortgage guy calls me up yesterday and tells me that if I am still interested he could go forward with the refinance, and he now has all the information he needs.
Wow I thought...This was great news. When I asked him if it was true that there were no fee's with the harp 2.0 mortgage if you refinance to a shorter term he started to play dumb with me and asked "whats harp 2.o". I was kind of flabbergasted because he knew this was the whole purpose of me meeting with him in person 2 different times and what I was waiting for.
Basically he was trying to refinance me with the harp 1.0 mortgage saying I would qualify with that and tried arguing with me that my condo was not more then 125% underwater based on the information he had in his system.
I informed him that My condo was worth 30,000 if I was lucky and I paid 87,000 for it. I also told him I was not going to pay the appraisal fee associated with harp 1.0 or the higher origination fee's.
He then told me he heard nothing about harp 2.0 being lower in origination fee's. (even though I read it on the fannie mae info page. (see page 19-20 under pricing)
Basically I told him I was not interested in Harp 1, and I will wait till Harp 2 is out. He said it won't be until March or April, and he would hear more around Feb 1st.
I kind of feel like he was trying to trick me into refinancing into harp 1, even though he knew I wanted harp 2.
Sometimes it sucks being so smart. Hopefully it's not another April Fools Joke.
Saturday, January 7, 2012
Posted by Chris at 8:17 AM