"Tremendous borrower interest" in HARP

The new version of the Obama Administration’s Home Affordable Refinance Program, which allows underwater and upside-down homeowners to refinance at lower rates is seeing “tremendous” interest, according to Ed DeMarco, acting head of the Federal Housing Finance Administration.

The program had been limited to homeowners who owe less than 125% of their home’s value, but that limit was lifted. Borrowers still need to be current on their existing mortgages to qualify.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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