5 Facts About the Obama Homeowner Stimulus Plan

A rundown of the Homeowner Affordability and Stability Plan announced yesterday.

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  1. Aims to allow 4 million to 5 million homeowners to refinance mortgages
  2. Establishes $75 billion fund to reduce homeowners' monthly mortgage payments
  3. Sets $6,000 estimate for highest average resulting increase in housing value
  4. Provides $1.5 billion in assistance for renters displaced by foreclosure
  5. Gives Fannie Mae and Freddie Mac a $50 billion increase in allowable mortgage-backed securities

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Sources: U.S. Treasury, MarketWatch