Finance
What is the Home Affordable Refinance Program (HARP) and how did it benefit Nevada homeowners?
AA Nevada state program for first-time buyers
BA federal program allowing underwater Nevada homeowners to refinance at lower rates even when the mortgage balance exceeded the home's value — widely used during Nevada's post-2008 recovery✓ Correct
CA program providing free home improvements for Nevada veterans
DA private lender program for jumbo refinances
Explanation
HARP allowed Nevada homeowners who were underwater (owed more than their home's value) to refinance their Fannie Mae or Freddie Mac loans at lower interest rates. Nevada had some of the highest underwater rates in the nation post-2008, and HARP provided significant relief before its expiration in 2018.
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