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Understanding the Homeowner Affordability and Stability Act provides an immediate look at the legal, governmental, and economic ramifications of President Obama's mortgage rescue program. It contains the thoughts of some of the nation's leading legal minds on the components of the Homeowner Affordability and Stability Plan (HASP), the requirements for borrowers to qualify for these benefits, and the potential outcome of this initiative. These experts analyze the legal impact of HASP, weighing both pros and cons, and discuss the possible controversies that may arise as a result of its implementation. They also address the following:
• How successful will this new program be in minimizing the foreclosure rate and stabilizing the economy on Main Street?
• What effect will this plan have on the prevalence of litigation by and against borrowers?