For homeowners who are underwater on their conventional mortgage, the government has enacted a new Home Affordable Refinance Program to help eligible participants pay down the principal without having to pay mortgage insurance. The new HARP 2.0 Refinance Program was made available to U.S. homeowners March 17, 2012 and those eligible can refinance by Dec. 31, 2013. “You can use HARP even if you’re far underwater on your mortgage. There is no loan-to-value restriction under the HARP mortgage program so long as your new mortgage is a fixed-rate loan with a term of 30 years or fewer,” said Dan Green, a loan officer with Waterstone Mortgage in Columbia, (0 comments)