More Homeowners Using Gov't Refinancing Plan, FHFA Says

Law360, New York (July 16, 2012, 8:27 PM EDT) -- The number of so-called underwater homeowners who refinanced their mortgages under a federal program rose sharply in the first five months of the year, after the program was expanded last fall, allowing more borrowers to take advantage of it, according to the Federal Housing Finance Agency.

During the first five months of 2012, more than 78,000 home loans were refinanced using the expanded Home Affordable Refinance Program, which helps underwater homeowners who owe more money on their homes than the homes are actually worth, the agency...
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