5/10/2023 0 Comments Freddie mac programs for refinance![]() What does it mean to be underwater? “It means they owed more than what their houses were worth,” says Jacqueline Cooper, president and executive director of Financial Education Associates in Boston, Massachusetts. Created by the Federal Housing Finance Agency (FHFA), HARP was introduced to help people keep their homes - specifically, homeowners whose mortgages were underwater. ![]() Prior to 2009, it was nearly impossible to refinance your home with little equity, as lenders wanted more security in their investments. ![]() ![]() Because with interest rates so low, now’s the time for Americans to consider refinancing their homes to save money. We asked three experts to walk us through HARP and the two refinancing programs that replaced it - and how to determine if one of them is a good fit for your financial situation. ![]()
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