"felt like every time I finished one form, two more popped up."
Haha, this was exactly my experience too. When I refinanced through HARP a couple years back, the lender wasn't exactly holding my hand either. Felt more like they were handing me a flashlight and saying "good luck." Still, once it was done, the monthly savings were decent enough to justify the hassle...but yeah, definitely depends on who you're dealing with and maybe a bit of luck.
Pretty sure the original HARP program expired a while back (think it was around 2018?), but there are still some replacement options floating around. Fannie Mae and Freddie Mac have new programs similar to HARP—like the High LTV refinance option. You might wanna check if your loan qualifies for one of those. And yeah, lenders can be a bit hit or miss...just gotta find one that's actually helpful.
Yeah, the original HARP program wrapped up a few years back. I remember because I had a client who was scrambling to get their paperwork in right before it expired—talk about stressful. They ended up missing the deadline by like two weeks, which was a bummer. But luckily, they were able to pivot and qualify for one of those newer programs through Freddie Mac (I think it was the High LTV refinance option you mentioned). It wasn't exactly the same as HARP, but it got them pretty close to what they needed.
You're totally right about lenders being hit or miss though. I've seen some lenders who are super helpful and walk you through every step, and others who just seem to drag their feet or don't communicate clearly. Had another client recently who got stuck with a lender that kept losing documents and asking for the same info over and over... drove us both nuts. Eventually, we switched lenders mid-process—which I usually try to avoid because it can complicate things—but in this case, it was worth the hassle.
If you're thinking about refinancing now, I'd definitely recommend checking out those replacement programs from Fannie Mae or Freddie Mac. Just make sure you read all the fine print and ask plenty of questions upfront. Refinancing can be great if it fits your situation, but it's not always the best move for everyone. I've seen people jump into refis without fully understanding the long-term implications, so just be cautious and do your homework first.
Good luck with it though—hope you find something that works out well for you.
"Refinancing can be great if it fits your situation, but it's not always the best move for everyone."
Yeah, totally agree with this. I've seen plenty of folks jump into refinancing because rates looked attractive on paper, but when you factor in closing costs and how long they actually plan to stay in the home, sometimes it doesn't pan out as expected. One client I worked with last year was dead set on refinancing because their neighbor got a great deal. But after we ran the numbers together, it turned out they'd barely break even after five years—by which point they planned to move anyway.
Also, while switching lenders mid-process can sometimes be worth it (like your example), I'd caution against it unless absolutely necessary. I've seen situations where the delays and confusion from switching ended up costing clients more in rate locks or appraisal fees than if they'd just stuck it out with the original lender. It's definitely a judgment call, but something to keep in mind...
Also, while switching lenders mid-process can sometimes be worth it (like your example), I'd caution against it unless absolutely necessary. I've seen situations where the delays and confusion from...
I get what you're saying about switching lenders mid-process, but sometimes it's the best call. A couple years back, I had a client who got stuck with a lender dragging their feet for weeks. Eventually, we bit the bullet and switched—yeah, it was a headache at first, but in the end they saved thousands because rates had dropped significantly during that delay. Goes to show there's no one-size-fits-all rule here...you've really gotta crunch your own numbers carefully before deciding.
