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Homeowners who survived the Great Recession with high debt-to-loan ratios completed 6,091 more refinances in May under the Home Affordable Refinance Program.

The Federal Housing Finance Agency has now helped 3.4 million families refinance their mortgages since the current program began April 1, 2009, some owing more on their houses than they were worth. About 6% of HARP loans had a loan-tovalue ratio greater than 125%, and HARP refinances accounted for 4% of all U.S. refinances in May.

Jim DuPlessis

A journalist for decades.

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