From US News. com: A rundown of the Homeowner Affordability and Stability Plan announced this week (posted February 19, 2009)
1. Aims to allow 4 million to 5 million homeowners to refinance mortgages
2. Establishes $75 billion fund to reduce homeowners' monthly mortgage payments
3. Sets $6,000 estimate for highest average resulting increase in housing value
4. Provides $1.5 billion in assistance for renters displaced by foreclosure
5. Gives Fannie Mae and Freddie Mac a $50 billion increase in allowable mortgage-backed securities
The plan goes into effect on March 4th. More shortly!
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1 comment:
Nice post. thanks for sharing your views regarding this matter. keep on posting.
joe
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