Nearly 1.1 million refinances were completed in 2012 as part of the Home Affordable Refinance Program (HARP), according to new data from the Federal Housing Finance Agency (FHFA). Since HARP was implemented in April 2009, nearly 2.2 million refinances have been completed.
According to the FHFA, the top five states for HARP refinances since 2009 are California (301,327), Florida (175,686), Illinois (147,252), Michigan (144,709) and Arizona (106,387). Most HARP refinances were on primary residences – 1.8 million – while second homes comprised 69,522 HARP refinances and 199,672 HARP refinances were for investment properties.
