I received an unsolicited offer in the mail claiming I have been "Pre-Approved" from CitiMortgage to refinance my underwater mortgage as part of the Harp 2.0 Program. As others have already mentioned, Citi offered me a 30 yr fixed rate @4.75%. Unfortunately, I was rejected because I have a second Mortgage serviced by a non-citi lender called Green Tree. Here is my situation
Primary Mortgage through CitiMortgage: 178,000 Fixed Rate @5.875% 30 yrs
Second Mortgage through Green Tree: 43,000 Fixed Rate @ 8.75% 20 yrs
Estimated Home Value: $180,000 - This put me about 41,000 underwater
Does anyone know if CitiMortage can use Harp 2.0 to help me on the second mortgage? Any other suggestions are welcomed and appreciated!!