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Home Affordable Refinance Program

Posted at 2:15 AM, Jul. 20, 2009

 The HARP, or Home Affordable Refinance Program,  affects millions of homeowners currently in Fannie Mae or Freddie Mac loans and permits first-mortgage loan amounts up to 125% of the home's current appraised value, with and without a second mortgage already attached. In addition, closing costs and as many as two payments can be rolled into the loan and up to $2,000 can be taken out of the mortgage.

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