Currently the Home Affordable Refinance Program is only available to homeowners whose mortgage is owned by Fannie Mae or Freddie Mac. This leaves one-half of all underwater homeowners from having the opportunity to refinance at today's record low rates and save potentially hundreds on their monthly payment. Allowing all homeowners the opportunity to save on their mortgage payment will help fuel the economy. It's unfair that homeowners who by poor luck didn't have their mortgage sold to Fannie or Freddie are shut out of the refinance market because of negative equity in their home.
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