HARP Gains Another 12 Month Extension

The Federal Housing Finance Agency (FHFA) announced on March 11th that the Home Affordable Refinance Program (HARP), due to end on June 30, 2011, will be extended for another year.  Since the program began in 2009, HARP has grown considerably.  In 2010, the government-sponsored enterprises, Freddie Mac and Fannie Mae, “purchased or guaranteed more than 6.8 million refinanced mortgages…Of this total, 621,803 were HARP refinances with LTVs between 80 percent and 125 percent.”  http://bit.ly/f4Y21W

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