Question by Dave T: Will the new HARP guidelines allow me to refinance?
I am current with my payments on my FHA mortgage, however it’s a rental property. I rent an apartment as my “primary residence”. Under the current guidelines, I’m not able to refinance since HARP excludes FHA loans that are rental properties and not “primary residences”.
With his recent State of the Union address, the President announced upcoming expansions to HARP. Has anyone heard of the details of this expansion? Will it allow someone in my situation – an FHA loan used as a rental property, to refinance?
Answer by Lisa L
I hope not. These programs are intended to be used for people needing help on their primary residences not to up the income for landlords.
Know better? Leave your own answer in the comments!