Revised federal program could spur low-equity refinances

10/24/2011 | Wall Street Journal, The

Regulators will remake the Home Affordable Refinance Program, allowing more people to refinance their homes even though they're underwater on the mortgages. First announced two years ago, the HARP initiative allows homeowners with low or no equity to refinance if they are current on payments and if their loans are backed by Fannie Mae or Freddie Mac.

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