Six Things to Know About Obama’s Revamped Home Affordable Refinance Program (HARP)

In 2009, the original Home Affordable Refinance Program was passed to help underwater homeowners refinance their mortgages. However, only a fraction of homeowners qualified due to narrow eligibility requirements and reluctant lenders. This past December, the Obama administration revamped the program to be more accessible to the millions of homeowners it was intended to help in the first place. Below is a rundown of the most important things to know about what is being called HARP 2.0: With Harp 2.0, borrowers can pick their lender. It has been rumored that some financial mortgage lenders...