Home Affordable Refinance Program Expanded to Up to 125% LTV

Home Affordable Refinance Program Expanded to Up to 125% LTV
On July 1, Secretary of Housing and Urban Development, Shaun Donovan, announced expansion of the Home Affordable Refinance Program to permit refinancing of existing Fannie Mae and Freddie Mac loans with LTVs up to 125 percent (up from the current LTV limit of 105 percent). The goal of the refinance effort, as announced by the President, is "to provide access to low-cost refinancing for responsible homeowners suffering from falling home prices." http://www.fanniemae.com/homeowners/refinance-or-modify.html