Morning Minute: FHFA looking for underwater Chicago homeowners for refinance program

Nearly 60,000 Chicago area homeowners who are underwater on their mortgages could be eligible to refinance to a more affordable rate through the Federal Housing Finance Agency’s (FHFA) Home Affordable Refinance Program, the Chicago Tribune reports.

FHFA is trying to get more eligible homeowners with Fannie Mae and Freddie Mac mortgages to participate by stepping up its efforts with a new public service campaign, the newspaper reports. Read the full article, “60,000 underwater borrowers in Chicago eligible for program,” for details.

In other headlines:

Gold rush is on in home decor – Chicago Tribune

Foreclosures decline, same areas still struggling – Columbia Chronicle

Some first-time buyers return, others remain shy – Northwest Herald

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