 manoj_gopale
Joined: 16 Feb 2009
Posts: 488
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 Posted: Tue Apr 14, 2009 4:12 am Post subject: HASP, go way beyond the prevailing plan of maximum of 80% |
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I've came across few details about the Obama government initiative called the Homeowner Affordability and Stability Plan, or HASP.
This program can really save so many homeowners who are underwater deep into debt of mortgage.
In current situation if your mortgage is more than 80% of your actual home value, you are out of luck, only few lenders will be ready refinance your mortgage, one won't be able to take advantage of the low interest rates out there, and thus the negatives go on and on increasing
But, with this plan, the HASP, one may go way beyond the prevailing plan of maximum of 80% and refinance up to 105% of your home value! This is really great because even if one have negative equity in one's home, one can refinance all these variable interest rate mortgages. |
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smithsussane
Joined: 18 Sep 2008
Posts: 6477
Location: Alaska
362.62 Dollars($)
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| Posted: Tue Apr 14, 2009 11:52 pm Post subject: |
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Hi Manoj!
Welcome to forums!
Yes, it's true that government has come up with such a plan in order to help the homeowners who are upside down on their mortgage. With the introduction of this plan, lot of homeowners will be able to save their property from going into foreclosure.
Sussane |
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