A policy of restraint in taking legal action to remedy a default or breach of contract, generally in the hope that the default will be cured, given additional time.
The Homeowners Affordability and Stability Plan (HASP) was a governmental initiative designed to provide mortgage assistance to millions of homeowners struggling with their mortgage payments.
The Homeowners Affordability and Stability Plan (HASP), announced by the U.S. government on February 18, 2009, aims to assist up to 9 million homeowners in avoiding foreclosure through cost-sharing and incentives, funded largely by the Housing and Economic Recovery Act of 2008.
Loan modification refers to changes made to the original terms of an existing loan agreement between the lender and borrower, usually to prevent foreclosure and provide financial relief to the borrower.
