HARP debuted in March, 2009 with the hope it would help borrowers with little or no equity in their homes refinance their mortgages and avoid foreclosure.  The hopes for the program started slowly as lenders dealt with loans that didn't require special handling.  Hopefully, that will change by the end of the year. 

Here's the highlights:

-Loan must be owned or guaranteed by Fannie Mae or Freddie Mac;

-Borrower must owe between 80% and 125% of their home's value;

-Home must be owner occupied;

-Mortgage payments must be up to date.