Winnah

Homeowner Affordability and Stability Plan (HASP).

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The Homeowner Affordability and Stability Plan (HASP) was announced by the Obama administration on February 18, 2009. The plan is designed to help up to 7 to 9 million homeowners who are struggling to make their mortgage payments, but who may not qualify for traditional refinancing because their home values have declined. Under HASP, eligible … Read more

Break Fee Definition.

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A break fee is a charge assessed by a lender to a borrower for prepaying a loan or terminating a loan agreement early. The break fee compensates the lender for lost interest payments and other costs associated with the early termination of the loan. Break fees are typically stated as a percentage of the loan … Read more