Homeowner affordability and stability plan (HASP)

Homeowner affordability and stability plan (HASP),

Definition of Homeowner affordability and stability plan (HASP):

  1. The HASP was a program that intended to prevent the housing values in entire neighborhoods from deteriorating by preventing foreclosures. During the Great Recession, the housing market and the economy suffered greatly. Millions of people lost their jobs and could no longer afford to make their mortgage payments.

  2. A program introduced in 2009 to help stabilize the U.S. housing market and wider economy. The program offers refinancing options for stable homeowners, financial aid to delinquent homeowners, and financial aid to support Fannie Mae and Freddie Mac. The purpose of the program was to reduce the number of foreclosures by targeting homeowners with mortgages that exceeded the value of their homes, as well as keeping the major mortgage-backers operating.

  3. The Homeowner Affordability and Stability Plan (HASP) was a program initiated in 2009 in an attempt to stabilize the U.S. economy during the Great Recession. The Homeowner Affordability and Stability Plan had three parts: refinancing options for stable homeowners, financial aid for seriously delinquent homeowners, and support for Fannie Mae and Freddie Mac. The HASP was designed to benefit several million American families.

How to use Homeowner affordability and stability plan (HASP) in a sentence?

  1. The Homeowner Affordability and Stability Plan (HASP) was a program initiated in 2009 in an attempt to stabilize the U.S. economy.
  2. The HASP improved the ability for homeowners to refinance their mortgage at lower interest rates and lower their monthly payments.
  3. The Homeowner Stability fund provided $75 billion in aid to help people make their mortgage payments and stay in their homes.
  4. The HASP provided funds to support Fannie Mae and Freddie Mac to stabilize the housing market.

Meaning of Homeowner affordability and stability plan (HASP) & Homeowner affordability and stability plan (HASP) Definition