Contact Us

Housing Refinance Program Offered By Federal Agencies Hopes To Help The Ailing Housing Market

Photo by Tim Boyle/Getty Images

It’s amazing how much money can be saved by refinancing.  Hopefully this is able to help many people across the country.

 

In the government’s latest attempt to address the ailing housing market, President Obama will announce changes to a federal program Monday that will make it easier for struggling homeowners to refinance to today’s near-record low rates.

Under the new program, homeowners who owe more on their homes than they are worth will be able to refinance no matter how much they are underwater, as long as they are current on their payments.

The revamped Home Affordable Refinance Program (HARP) will also streamline the refinancing process, doing away with certain types of appraisals and underwriting requirements, and reducing or eliminating fees that prevented homeowners from refinancing in the past.

More than 890,000 homeowners have already refinanced under the HARP program, which is available to borrowers with loans backed by Fannie Mae and Freddie Mac that were originated before May 31, 2009. But hundreds of thousands more could not qualify — mainly because of the previous 125% loan-to-value limit on the program or because banks would not take on the risk.

via Housing refinance program offered by federal agencies – Oct. 24, 2011.

More from B105

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://kkcb.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on B105 TODAYS BEST COUNTRY quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on B105 TODAYS BEST COUNTRY quickly by logging in with your Facebook account. It's just as secure, and no password to remember!