Homeowners Affordability and Stability Plan, 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.
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Mortgage servicers will receive incentives to modify loans and to help the homeowner stay current, though participation by lenders is voluntary.
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