Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
HARP Extended Through 2015
WASHINGTON (4/12/13)--The life of a government mortgage financing program known as HARP--the Home Affordable Refinance Program--was extended by two years yesterday when the Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to extend it to Dec. 31, 2015. The program was set to expire Dec. 31, 2013.

FHFA Acting Director Edward DeMarco called the HARP program a "useful tool for reducing risk," which has helped more than two million homeowners refinance their mortgages if held by Fannie or Freddie.

He announced that his agency soon will launch a nationwide campaign to inform more homeowners about HARP and its eligibility requirements and to motivate them to explore their options and utilize HARP before the program ends.

HARP was launched in 2009 to let troubled homeowners bypass a requirement that they have at least 20% equity in their home to be able to refinance their mortgages at lower rates. Late in 2011 changes were made to the program--removing certain restrictions--to help more underwater borrowers benefit from refinancing their home mortgages through HARP.

Use the resource link to access FHFA's Refinance Report.
Other Resources

FHFA’s Refinance Report.
RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
10 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
18 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
20 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
23 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
23 hours ago