Govt. expands refinancing options for low-income homeowners

FILE - In this June 9, 2020, file photo, Federal Housing Finance Agency Director Mark Calabria testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on Capitol Hill in Washington. The Federal Housing Finance Agency on Wednesday, April 28, 2021, announced a new refinance option for certain low-income borrowers, helping them take advantage of low interest rates and save money each month. “Last year saw a spike in refinances, but more than 2 million low-income families did not take advantage of the record low mortgage rates by refinancing,” said Calabria. (Astrid Riecken/The Washington Post via AP, Pool)