Change to a fixed-rate mortgage from an adjustable-rate, interest-only, or balloon/reset mortgage.A lower, more affordable monthly mortgage payment.HARP® may help you obtain one or more of the following benefits of refinancing: It is designed to help homeowners who owe more on their mortgage than their home is worth (or have little to no equity in their home) to take advantage of lower mortgage rates and other refinance benefits. Choosing to refinance through HARP® can help you to obtain a more stable and affordable mortgage. Refinancing when you have experienced a decline in the value of your home can be difficult with other refinancing loan options. The program was recently extended, and is available through December 31, 2018. The Home Affordable Refinance Program (HARP®), is a federal program that was launched back in 2009.
