Homeowner Affordability and Stability
Summary of the Obama Administration Plan
The Obama Administration’s Homeowner Affordability and Stability Plan will offer assistance to as many as 7 million to 9 million homeowners making a good-faith effort to stay current on their mortgage payments, while attempting to prevent the destructive impact of foreclosures on families and communities. It will not provide money to speculators, and it will target support to the working homeowners who have made every possible effort to stay current on their mortgage payments. Just as the American Recovery and Reinvestment Act works to save or create several million new jobs and the Financial Stability Plan works to get credit…
