Business Finance
Examination of Homeowner Relief Programs Discussion

Question Description

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Examination of homeowner relief programs

As a result of the mortgage crisis beginning in 2006, several programs have been introduced by lenders and/or government agencies to provide homeowners with relief from mortgage obligations that would result in foreclosure and loss of a residence. In a two- to three-page paper (excluding the title and reference pages)

  • Describe two mortgage relief programs available to homeowners. Be sure to include at least one example of how each program provides relief to homeowners.
  • Discuss how each of the two selected mortgage relief programs impact customary foreclosure, short sale, or deed in lieu proceedings.
  • Discuss the potential for lasting impacts from the two selected mortgage relief programs on not only borrowers and lenders, but also the economy as a whole.

Your paper must be two to three pages in length, double-spaced (excluding title and reference pages) and it must be formatted according to APA style as outlined in the Ashford Writing Center. You must cite at least three scholarly and/or professional sources in addition to the textbook.

The Paper

  • Must be two to three double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
  • Must include a separate title page with the following:
    • Title of paper
    • Student’s name
    • Course name and number
    • Instructor’s name
    • Date submitted
  • Must use at least three scholarly sources in addition to the course text.
  • Must document all sources in APA style as outlined in the Ashford Writing Center.
  • Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.

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Final Answer

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Homeowner relief programs

1

Examination of Homeowner Relief Programs
Student’s name
Course name and number
Instructor’s name
Date submitted

Homeowner relief programs

2

Two mortgage relief programs available to homeowners
As a result of the mortgage crisis that began in 2006, various mortgage relief programs
have been available to homeowners. Sincerely, mortgage applications are time-consuming and
tiresome; most of them are rarely successful. Two examples of these relief programs include the
(FHFA) Federal Housing Finance Agency and the (HAFA) Home Affordable Foreclosure
Alternatives Program.
The Federal Housing Finance Agency, which is an independent agency, was established
under the housing and economy recovery act in 2008. The main objectives of the agency are to
minimize foreclosure of mortgages as well as ensuring that they are always available. It also
attempts to construct a modern sense of security through Freddie Mac and Fannie Mae for single
families who can, later on, be used in the secondary market (Simkovic, M. 2013). The FHFA is
currently providing respite to homeowners who are experiencing difficulties due to the
coronavirus by giving them an option to postpone mortgage payments. This forbearance was
directed by Mark Calabria, the FHFA director (Foohey, P et al., 20...

NehaSeelam (2162)
UCLA

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