Totally agree about FHA Streamlines—they're often a hidden gem. Have you seen anyone have luck with VA IRRRLs lately? Heard they're pretty flexible too, but curious if they're actually helpful for underwater situations...
VA IRRRLs can definitely be a lifesaver in underwater situations—seen it firsthand with a couple clients recently. They're pretty forgiving about appraisals, which is huge if you're upside-down. Had one client who was seriously underwater, and the IRRRL got them into a lower rate without any appraisal drama. Not saying they're magic or anything, but compared to other refi options out there right now, they're about as close as it gets...
I've been hearing good things about VA IRRRLs lately too, though I don't qualify myself. Is HARP even still around these days? Thought they phased it out or something... Curious if there's something similar available for non-VA folks now.
Yeah, pretty sure HARP got phased out a while back... 2018-ish? There's something called the High LTV refinance now—kinda similar but with stricter guidelines. Worth checking into if you're underwater on your mortgage (like me, sadly, lol).
Yeah, HARP's definitely gone now. I looked into the High LTV refinance last year when I realized we were underwater too. Honestly, it seemed a bit tougher to qualify for than HARP was—more hoops to jump through, stricter credit checks, etc. Decided against it in the end because I wasn't convinced the savings outweighed the hassle and potential risks. Might still be worth a look, but I'd recommend crunching your numbers carefully first...
