Refinance Program Extended

According to the Seattle Times, Obama’s administration has extended the Home Affordable Refinance Program to June 30, 2011. This program is targeted to allow borrowers who owe up to 25 percent more than their homes are worth to refinance to lower interest rates. Currently, about 220,000 have utilized from this program, according to the Treasury Department and the Obama administration was hoping it would at least help a few million borrowers.