Regulators announced an expansion the Home Affordable Refinance Program, which was launched a couple of years ago to help borrowers refinance their mortgages if they are backed by Fannie Mae or Freddie Mac. So far, the program hasn't helped as many borrowers as was expected. The Federal Housing Finance Agency predicts that as many as 1 million more struggling homeowners should be able to use the program to refinance their mortgages. "These changes to HARP will enable more homeowners who are current on their mortgage payments, but 'underwater' on their mortgages to refinance and reduce their monthly payments. However, additional steps are still needed to strengthen the housing market and grow the economy," said John Dalton, president of the Housing Policy Council.