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What are the Home Affordable Refinance Program (HARP) and Home Affordable Modification Program (HAMP)?

April 26, 2017affordable hamp Harp Home modification program Refinance

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What are the Home Affordable Refinance Program (HARP) and Home Affordable Modification Program (HAMP)?

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HARP and HAMP are the two principal components of MHA that use refinancing and loan modifications, respectively, to reduce monthly mortgage payments to affordable levels or move borrowers to more stable mortgage products.