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U.S. Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) today reintroduced legislation to help millions of responsible homeowners refinance at lower rates and save thousands of dollars each year. The Senators originally introduced this legislation in the 112th Congress.Bill proposes to: 1)Ensure that streamlined refinancing is available and consistent for all Fannie and Freddie borrowers, regardless of whether they are underwater or not; 2) Reduce up-front fees on refinances; 3) Eliminate appraisal costs for all borrowers; 4) Remove additional barriers to competition; 5) Extend HARP by one year, to allow eligible borrowers more time to access the program.

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