President's Homeowner Affordability and Stability Plan

On March 4, 2009, The Obama Administration announced new U.S. Department of the Treasury guidelines to enable servicers to begin modifications of eligible mortgages under the Administration's Homeowner Affordability and Stability Plan – announced by President Barack Obama on February 28, 2009. NAR has reviewed these policies and has developed a summary of the plan. You can also get more information from the brand new website set up by the Treasury Department: www.financialstability.gov.