U.S. housing regulator extends HARP refinancing program
Source: Reuters
The top U.S. housing regulator on Thursday extended by two years a popular federal refinancing program in order to allow more borrowers with government-backed loans to lower their monthly mortgage payments.
The Home Affordable Refinance Program, or HARP, assists borrowers with loans backed by Fannie Mae and Freddie Mac, and allows them to cut loan payments by refinancing at record low interest rates even if their homes have lost value.
The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie, said it would extend the HARP program to run until the end of 2015. HARP was originally set to expire at the end of this year.
Read more: http://www.reuters.com/article/2013/04/11/usa-housing-fhfa-idUSL2N0CY0XJ20130411
