Part of Obama’s attempt to stabilize our housing market is the Homeowner Affordability and Stability Plan. There are two initiatives that are included within this plan. One is for homeowners that have between an 80% and 105% Loan-to-Value ratio in their home (meaning less than 20% equity and up to owing 5% more than their home is worth), and the other initiative is to lower monthly payments for homeowners that are at risk of losing their home.
The details will be announced on March 4th, but the following is the initial announcement with Frequently Asked Questions.
I’ll blog about the details once I know them.
