HARP loan. Anybody here getting one/thinking about getting one?
I hear the Republicans are gearing up to oppose re-authorization of them probably because 1) it's an Obama Administration initiative and 2) it'll make more Americans dependent on the government.
These loans carry a lower interest rate than we are now getting and no closing costs.
So naturally the Republicans oppose the whole idea.
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...so some offer better deals than others, and some brokers use deceptive practices.
You're final rate will vary depending upon when they lock it in, don't be pressured.
You still need to have a credit report but don't necessarily have to have an appraisal.
I was told I wouldn't need one and then got one and then was told I'd have to have some structural issues cured, so that pissed me off as it was a bit of a bait and switch.
But in the end a friend who does mortages but is in a different state told me not to bother unless I was sure I'd be in this same house for ten years.
Good luck, I think it will work for you!
From what I saw, they are the same rates you'd get for a fixed 15 or 30 conventional loan.
The only thing lower would be an ARM, Adjustable Rate Mortgage, and these are what got so many people underwater.
So if you're shopping for a fixed rate, just do a HARP2.
We have attempted to refy several times since 2008 it's been a nightmare.
I felt like we were treated like Criminals and all we wanted to was move to a fixed rate and just pay $50.00 more a month with the same company that already holds our mortgage.
We pay all our bills automatically so nothing is ever late. and We got put through the ringer 4 times
I was done I was not going to try again because each time we have to pay $425 for the Appraisal. plus the Appraisers have been jerks really rude guys.
And it seemed like everything would be fine until Freddie Mac got envolved. I read an article that Freddie Mac was making it harder for homeowners in good standing to refy to the lower rates. 
Everyone gets to benefit from us owning this dump except us.
Honestly if it wasn't for my Children being school age. I would ditch life and go live on a trawler tomorrow.
I never want to own a home again. once we are done with this place. I am going to find a warm marina, and 50ft trawler and live and never talk to another loan company again CASH ONLY
If you are at ~50% loan to value, you can get a fixed rate Home Equity Loan (HEL) for the outstanding balance for anywhere from 10 years to 30. I refi'd my HEL in January from a 22 year outstanding to a 20 year, dropped the rate from 5.65 to 3.45 and eliminated a $20k outstanding student loan debt in the process as a cash out. Payment went up by $1.50 and didn't cost a dime to do. 
Most every bank in the country is pushing them right now while rates are still low to bolster their loan portfolios and improve their at-risk ratios.
I wouldn't wait though, regardless of which you choose, rates ARE going back up and IMO, quicker than expected.
(Side note - if you have the equity, most will add in a HELOC - Home Equity Line of Credit - also for no closing/appraisal/credit costs. Get it on the books during the initial underwriting and you will have a slush fund you can tap for 10-15 years without additional approvals in case you need to make a repair or buy a new car or whatever. HELOC interest is tax deductible, so book now and use it in 7 years or so for an unexpected expense. One of the few tax perks the middle class can actually use.)