Getting Out of the Game: Many Borrowers are Exiting HARP

Approximately 3.4 million homeowners have received mortgage modifications through the government’s Home Affordable Refinance Program (HARP) since the program’s inception in 2009.

Now that many of those homeowners have built up sufficient equity and mortgage rates are low, however, many of HARP refinancers are leaving the program behind in favor of more conventional mortgage modifications, according to Freddie Mac’s January 2016 Insights & Outlook report released on Friday. Aggregate home equity in the United States has grown by $6 trillion since the middle of 2011.

Read more at DS News.

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