Home Affordable Refinance Program

The Home Affordable Refinance Program (HARP) was a government initiative designed to help homeowners who owed more on their mortgage than their home was worth, and who were not able to refinance through traditional methods. It aimed to lower monthly payments, reduce interest rates, and make refinancing easier regardless of current home value or debt. By doing so, HARP provided relief for homeowners struggling with high payments, helping them save money and avoid foreclosure. The program was available until 2018, after which it was replaced by more recent options.