Homeowner Affordability And Stability Plan - HASP

A A A

DEFINITION

A program rolled out in 2009 in an attempt to stabilize the U.S. economy. The Homeowner Affordability and Stability Plan (HASP) has three parts: refinancing options for stable homeowners, financial aid for seriously delinquent homeowners and support for Fannie Mae and Freddie Mac. The HASP was expected to benefit several million American families.

INVESTOPEDIA EXPLAINS

The HASP was intended to prevent the housing values in entire neighborhoods from deteriorating by preventing foreclosures. The plan was specifically aimed at helping homeowners with mortgages that exceeded the value of their homes. The provisions can offer as much as $6,000 of relief against the decline in home value for many taxpayers.


RELATED TERMS
  1. Emergency Economic Stabilization ...

    One of the bailout measures taken by Congress in 2008 to help repair the damage ...
  2. Home-Equity Loan

    A consumer loan secured by a second mortgage, allowing home owners to borrow ...
  3. Home Equity

    The value of ownership built up in a home or property that represents the current ...
  4. Home Equity Line Of Credit - HELOC

    A line of credit extended to a homeowner that uses the borrower's home as collateral. ...
  5. Homeowners Insurance

    A form of property insurance designed to protect an individual's home against ...
  6. Homeowners Protection Act

    A law designed to reduce the unnecessary payment of private mortgage insurance ...
  7. Forbearance

    A temporary postponement of mortgage payments.
  8. Mortgage Modification

    A permanent change in a homeowner's home loan terms that makes the monthly loan ...
  9. Multibank Holding Company

    A company that owns or controls two or more banks. Mutlibank holding companies ...
  10. USDA Non-Streamlined Refinancing

    A mortgage-refinancing option offered by the United States Department of Agriculture ...
Related Articles
  1. Measuring The Benefits Of Home Ownership
    Home & Auto

    Measuring The Benefits Of Home Ownership

  2. The Risks Of Real Estate Sector Funds
    Mutual Funds & ETFs

    The Risks Of Real Estate Sector Funds

  3. 5 Tips For Recession House Hunters
    Home & Auto

    5 Tips For Recession House Hunters

  4. Why It’s So Hard to Get Small Mortgage ...
    Credit & Loans

    Why It’s So Hard to Get Small Mortgage ...

  5. Top Reasons To Apply For An FHA Loan
    Credit & Loans

    Top Reasons To Apply For An FHA Loan

  6. Mortgages: Fixed-Rate Versus Adjustable-Rate
    Credit & Loans

    Mortgages: Fixed-Rate Versus Adjustable-Rate

  7. 5 Things You Shouldn't Do During A Recession
    Budgeting

    5 Things You Shouldn't Do During A Recession

  8. Selling Premium As Small Caps Play Catch ...
    Options & Futures

    Selling Premium As Small Caps Play Catch ...

  9. Forecasting Mortgage Rates: Buy, Sell ...
    Investing Basics

    Forecasting Mortgage Rates: Buy, Sell ...

  10. What counts as
    Credit & Loans

    What counts as "debts" and "income" ...

comments powered by Disqus
Hot Definitions
  1. Leased Bank Guarantee

    A bank guarantee that is leased to a third party for a specific fee. The issuing bank will conduct due diligence on the creditworthiness of the customer looking to secure a bank guarantee, then lease a guarantee to that customer for a set amount of money and over a set period of time, typically less than two years.
  2. Degree Of Financial Leverage - DFL

    A ratio that measures the sensitivity of a company’s earnings per share (EPS) to fluctuations in its operating income, as a result of changes in its capital structure. Degree of Financial Leverage (DFL) measures the percentage change in EPS for a unit change in earnings before interest and taxes (EBIT).
  3. Jeff Bezos

    Self-made billionaire Jeff Bezos is famous for founding online retail giant Amazon.com.
  4. Re-fracking

    Re-fracking is the practice of returning to older wells that had been fracked in the recent past to capitalize on newer, more effective extraction technology. Re-fracking can be effective on especially tight oil deposits – where the shale products low yields – to extend their productivity.
  5. TIMP (acronym)

    'TIMP' is an acronym that stands for 'Turkey, Indonesia, Mexico and Philippines.' Similar to BRIC (Brazil, Russia, India and China), the acronym was coined by and investor/economist to group fast-growing emerging market economies in similar states of economic development.
  6. Pension Risk Transfer

    When a defined benefit pension provider offloads some or all of the plan’s risk – e.g.: retirement payment liabilities to former employee beneficiaries. The plan sponsor can do this by offering vested plan participants a lump-sum payment to voluntarily leave the plan, or by negotiating with an insurance company to take on the responsibility for paying benefits.
Trading Center