The Commercial Real Estate Alpha Site

On February 18, 2009, President Obama announced his Homeowner Affordability and Stability Plan, designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages.

This plan aims to assist homeowners who have maintained payments and are making earnest attempts to continue along the path. Rather then try to help a boater after they have fallen into the raging waters, this aims to give them a lifejacket and stabilize the boat beforehand.

The 3 main components of the plan, via http://realtor.org are as follows:

1. Government Sponsored Enterprises (GSEs) Refinancing for Up to 4 to 5 Million Responsible Homeowners with GSE loans to Make Their Mortgages More Affordable

2. A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners

3. Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac

For a chart breakdown, visit this link.