A recent expansion of the Making Home Affordable program now allows borrowers who are current but up to 125 percent underwater on their mortgage to refinance those loans according to the terms of the Making Home Affordable refinance program. Participation in the program remains limited to those whose mortgages are currently owned or guaranteed by Fannie Mae and Freddie Mac. This change, however, opens the door to refinance relief for more borrowers fighting to keep their homes in areas hit hard by the foreclosure crisis. More information on the expansion is available on HUD’s Web site. Borrowers can check to see if they are eligible for a Home Affordable Refinance on the Making Home Afforbable Web site.