You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

0

1

▲  5th Inning 0 outs

US extending mortgage refinancing program

WASHINGTON — The US government is extending a program that allows borrowers with mortgages backed by Fannie Mae or Freddie Mac to refinance at lower rates.

The Home Affordable Refinance Program was to expire Dec. 31. The Federal Housing Finance Agency, which oversees Fannie and Freddie, said Thursday it is extending the program through 2015 to enable more borrowers to use it. About 2.2 million people have refinanced their mortgages through the program since April 2009. Officials had hoped that at least 4 million borrowers would participate.

Continue reading below

For borrowers to qualify, the amount owed on their mortgage must be more than 80 percent of the home’s appraised value. Borrowers must be current on their mortgage, which must have been sold to Fannie or Freddie before June 2009.

Loading comments...
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.