Can we be able to qualify for the Home Affordable Refinance Program?
My wife and i are both in college, and we have a house that we are renting out in another state, we only make 1460 between ourselves each month, and we get 1485 for the renting of the house. Our mortgage payment is 1900. the loan is an interest only loan at 6.525% with 27 years left. Our loan is owned by Fannie Mae. Is there any reason that we wouldn’t qualify for HARP?