New Housing Bill
Homeowner Affordability and Stability Plan
Resources for Loan Modification
New Housing Bill
Homeowner Affordability and Stability Plan
THE NEW HOUSING BILL, H.R.1(HOMEOWNER AFFORDABILITY AND STABILITY PLAN 2009 TO FOR RE-STRUCTURING YOUR HOME LOAN UP TO 50% OFF YOUR MORTGAGE PAYMENT WITH A BRAND NEW 30 OR 40 YEAR FIXED
You can qualify even if you haven’t missed a payment!
Summary of the homeowner affordability and stability plan:
On February 18, 2009, President Obama announced a comprehensive plan to help responsible homeowners avoid foreclosure by providing affordable and sustainable mortgage loans. The Homeowner Affordability and Stability Plan, a $75 billion dollar federal program, provides for a sweeping loan modification program targeted at borrowers who are at risk of foreclosure because their incomes are not sufficient to make their mortgage payments. It also includes refinancing opportunities for borrowers who are current on their mortgage payments but have been unable to refinance because their homes have decreased in value.
Loan Modification
Under the Homeowner Stability Initiative, Treasury will spend up to $50 billion dollars to make mortgage payments affordable and sustainable for middle-income American families that are at risk of foreclosure. Borrowers who are delinquent on the mortgage for their primary residence and borrowers who, due to a loss of income or increase in expenses, are struggling to keep their payments current may be eligible for a loan modification.
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