What exactly is HARP?  It stands for Home Affordable Refinance Program.  It is an excellent program that allows a homeowner to refinance their home to be able to get a lower interest rate if they are currently underwater in their home.  Normally, if you want to refinance, your lender will determine the value of your home and you can refinance if your home is worth at least the amount that you want to finance.  An example is if you owe $150,000 on your home and you want to refinance.  When the value is determined, it has to be worth more than $150,000 to be able to refinance.  With the home market as it has been over the last several years, depending upon when you purchased, there is a chance that the value of your home has decreased.  Therefore the value may actually be less than $150,000, making you ineligible for traditional refinancing.  That is where the HARP program may be able to help you.  Interest rates are fantastically low right now and if you are going to stay in your home, you can save a lot of money over the period of your loan if you are able to refinance at a lower rate.  For more detailed information and instructions on how to apply, go to http://harpprogram.org.