HARP, or the Home Affordable Refinance Program, is a great way to refinance your mortgage and save a ton of money in interest charges.
HARP allows homeowners who have little or no equity in their homes to refinance their mortgages and get lower interest rates. You can even refinance if your mortgage is upside down.
The program was due to expire in September, but it has been extended through December 2018, adding 15 months to this popular initiative.
The 2008 housing crisis left many homeowners owing more on their mortgages than their homes were worth. The rate of foreclosures rose 81 percent in 2008 alone and more than 860,000 homeowners lost their homes.
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