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Thursday, April 11, 2013 11:49:30 AM
Government refinancing program extended two years
11:23 AM ET 4/11/13 | Marketwatch
WASHINGTON (MarketWatch) -- Troubled homeowners will have another two years to use a government refinancing program, which has been extended through the end of 2015, officials said Thursday. The Home Affordable Refinance Program, which enables refinancing for borrowers with loans backed by Freddie Mac or Fannie Mae , had been slated to expire at the end of this year. "We are extending the program so more underwater borrowers can benefit from lower interest rates," said Edward DeMarco, acting director of the agency that regulates Fannie and Freddie. Since starting in 2009, the program has helped more than 2.2 million borrowers refinance.
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