The Federal Housing Finance Agency announced that it would be extending its participation in the Home Affordable Mortgage Program and the Home Affordable Refinance Program through the end of 2016.

“These programs have provided critically important relief for many borrowers by allowing them to lower their monthly payments and, as a result, have prevented many foreclosures,” says Mel Watt, FHFA director. FHFA is the regulator of Fannie Mae and Freddie Mac. Visit REALTOR Magazine