You’ve heard about the bank bailouts. You’ve heard the outrage about AIG executives receiving millions of dollars of government bailout money in the form of bonuses. But have you heard about the Home Owner Affordability and Stability Plan?

While the housing crisis can be traced back to the very roots of our current economic crisis, more attention has been focused on bailing out big businesses and automotive manufacturers. We still hear tragic stories of foreclosures and declining home values, yet we don’t hear much about efforts to correct the housing market. Until now.

The Home Owner Affordability and Stability Plan focuses on the fact that every foreclosure drives housing prices in the neighborhood down even further. It addresses the issue that people who have made every attempt in good faith to make good on their mortgage payments have fallen onto hard times and either watched the value of their home sink, or lost their jobs and are now unable to afford their monthly payments.  Those whose home values have fallen are now unable to refinance to get a lower interest rate, because they owe more on their property than it’s worth.

The primary goal of this plan is to enable 7 to 9 million homeowners to refinance or restructure their mortgages to make them more affordable, and therefore avoid foreclosure. The plan also will take steps to help keep interest rates down.

Don’t give up on your dream of home ownership just yet. Idaho interest rates are still low, and if you’re a current Idaho home owner facing falling home values or possible foreclosure, contact an Idaho home loan specialist today to discuss your options under this new plan!

Image copyright simmbarb on Stock.xchng

---

Add this page to your favorite Social Bookmarking websites