If you are one of the few Nevada residents that is current on your mortgage and you are seeking a loan modification, good news! The Federal Housing Finance Agency has extended the Home Affordable Refinance Program to June 30, 2012. The program allows homeowners with loans administered by Fannie Mae or Freddie Mac, who are current on their loans and whose loan-to-value rations are between 80 and 125 percent, to finance to a lower loan rate. Given that Nevadans suffer with negative equity averaging more than 60%, this program is not likely to be of much assistance in our state. However, if you are one of the few that can qualify, getting a lower interest rate (and perhaps, a small principal reduction of up to 5%) is worth pursuing.