The Home Affordable Refinance Program (HARP) helped nearly 900, 000 homeowners well short of its initial goal of 4 to 5 million.

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In December, the federal government rolled out a revamped version of the Home Affordable Refinance Program with relaxed home-equity requirements, to allow more borrowers to refinance.

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The company currently allows its borrowers who are underwater or who have less than 20% equity to refinance with reduced documentation and fees under the Home Affordable Refinance Program.

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Those deeply underwater or behind on their payments can take advantage or can try to take advantage of the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP), though even borrowers who qualify have had difficulty working with their lenders.

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These programs generally appear to be already subject to their own specialized underwriting criteria, and they are designed to help consumers refinance into a more affordable home loan.

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