Many homeowners choose to obtain modifications to their home loans when they are struggling to pay their mortgages or hope to avoid foreclosure.
Many of these programs enable homeowners to pay zero advance fees, reduce monthly mortgage payments and stop foreclosure.
On February 18, 2009, President Barack Obama announced this $75 billion initiative, which has one aim, to make housing affordable for all U.S. residents.
The HASP is a "comprehensive plan to help responsible homeowners avoid foreclosure by providing affordable and sustainable mortgage loans.
"[4] As part of the HASP, there are 3 distinct programs depending on borrower needs:[5] Loan modification software companies have been developed in order to be able to handle the demand for proper analysis.