Homeowners Affordability and Stability Plan

Homeowners Affordability and Stability Plan

A program in the United States to help distressed homeowners in the wake of the late 2000s recession. It offers incentives for lenders to reduce the PITI of certain mortgages to 38% of the homeowner's net income. In turn, the government shares the cost so the homeowner only pays 31% of his/her net income on the mortgage. The plan was established in February 2009.
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3 billion under the Homeowners Affordability and Stability Plan to help keep families in their homes.
The loss mitigation teams at Prommiswork directly with clients and their borrowers to solicit, facilitate and execute all types of loss mitigation programs including Home Affordable Modification Program (HAMP) and Homeowners Affordability and Stability Plan (HASP) waterfall analyses, repayment plans, loan modifications, HomeSaver Advance([TM]) (Fannie Mae), partial claims, short sales, deeds-in-lieu of foreclosure and bankruptcy loss mitigation.
The new Homeowners Affordability and Stability Plan qualifies an estimated 3 - 4 million at-risk American homeowners for mortgage loan modification to prevent foreclosure.
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