Obama announces Homeowner Affordability and Stability Plan MortgagePress.comPresident Barack Obama, Homeowner Affordability and Stability Plan, Fannie Mae, Freddie Mac President Barack Obama has announced his Homeowner Affordability and Stability Plan, outlining new ways the federal government intends to help millions of homeowners avoid foreclosure. The three key components of the plan are: • Providing low-cost refinancing through Fannie Mae or Freddie Mac for up to five million homeowners affected by decreasing home values. • Creating a $75 billion homeowner stability program to assist up to four million at-risk borrowers in securing loan modifications to avoid foreclosure. The program would include up-front incentives for servicers who negotiate qualified modifications. • Supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac. For more information, visit www.hud.gov.