Notice of Funding Availability for Refinance Assistance Under the American Recovery and Reinvestment Act of 2009-Section 502 Guaranteed Loan Program

Résumé

This notice announces the Agency intent to prioritize $400 million in funding that was previously made available in the Federal Register on July 23, 2009, for the refinance program to achieve the maximum amount of debt relief to existing borrowers and keep the borrowers in their homes, thereby, achieving long-term financial stability consistent with the goals of the Recovery Act. Additional requirements for such refinancing will ensure that existing borrowers are achieving measureable financial savings in refinancing and that Recovery Act funds are spent wisely and have transparent results.