HARP 2.0

HARP 2.0, or the Home Affordable Refinance Program 2.0, is a government initiative that helps homeowners with underwater mortgages (where they owe more than the home's worth) to refinance and reduce their payments. Unlike traditional refinancing, HARP 2.0 doesn't require a good credit score or fresh appraisal, making it easier for homeowners to lower interest rates and monthly costs. Launched by Fannie Mae and Freddie Mac, it aims to stabilize the housing market by enabling more people to afford their homes, especially during economic downturns.