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The Homeowners Affordability and Stability Plan is a U.S. program announced on February 18, 2009, by U.S. President Barack Obama.According to the US Treasury Department, it is a $75 billion program to help up to nine million homeowners avoid foreclosure, which was supplemented by $200 billion in additional funding for Fannie Mae and Freddie Mac to purchase and more easily refinance mortgages. [1]
As part of the 2012 State of the Union Address, President Barack Obama referenced a plan to give "every responsible homeowner the chance to save about $3,000 a year on their mortgage". Within the mortgage industry, this plan is being referred to as HARP 3.0. The plan has not passed.
President Barack Obama speaks about the 2,000th project approved through the ARRA. The president is joined by Vice President Joe Biden and Secretary of Transportation Ray LaHood. Senate Republicans forced a near unprecedented level of changes (near $150 billion) in the House bill, which had more closely followed the Obama plan.
The administration has not come up with a final plan for mortgage entities. President Barack Obama's administration may propose that any government backing of mortgages be funded by fees on ...
WASHINGTON -- The Obama administration is offering some relief to homeowners who have government-backed mortgages. Under a program President Barack Obama unveiled Tuesday, the government would cut ...
President Obama's mortgage modification plan provided assistance to only 7% of borrowers who signed up last year, further adding to the chorus of boos for the much-hyped program. The Associated ...
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