Published: November 20, 2012
Radian Helps Underwater Homeowners Refinance Through HARP 2.0
PHILADELPHIA - (BUSINESS WIRE) - Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group
Inc., today announced its continued support of the Home Affordable
Refinance program (HARP). The HARP program was first introduced in 2009
by the Federal Housing Finance Agency (FHFA) and the Department of the
Treasury to help "underwater" homeowners who owe more on their mortgage
than their home is worth. HARP 2.0 was announced late last year and
included additional enhancements to help more homeowners take advantage
of the program.
Radian has helped more than 35,000 borrowers take advantage of the
newest HARP 2.0 program where, on average, homeowners are able to reduce
the monthly principal and interest payment on their mortgage by more
than 20 percent. Many are also using the program to pay their mortgage
loan more quickly, with 18 percent of Radian's HARP 2.0 borrowers
refinancing into a 10- to 20-year term.
"At Radian, we are committed to helping homeowners stay in their homes.
We are pleased to support the successful HARP refinance program, which
helps borrowers who are paying their monthly mortgage payments and are
committed to their homes to take advantage of today's low interest
rates," stated Teresa Bryce Bazemore, President of Radian Guaranty.
To read the complete release at NewsBlaze,
Radian Helps Underwater Homeowners Refinance Through HARP 2.0,
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