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FHFA extends HARP for one year

The Federal Housing Finance Agency (FHFA) this week announced the extension of the Home Affordable Refinance Program (HARP) to June 30, 2011.  HARP is a refinancing program administered by Fannie Mae and Freddie Mac and expands access to refinancing for qualified individuals and families whose homes have lost value. The program was originally set to expire June 10, 2010.

In 2009, Fannie Mae and Freddie Mac purchased or guaranteed more than 4 million refinanced mortgages.  Homeowners can visit www.MakingHomeAffordable.gov for additional information on the program.

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