"The USAffordable Home Account is not a hand out. It is a hand up! It is a win for home- owners, lenders, investors and the American taxpayer. It is a win for the dream of home ownership. It is a win for our economy and a win for America."
Mike Johnston
Chairman
WHAT IS THE USAFFORDABLE HOME ACCOUNTSM
A breakthrough solution to today's housing crisis --
Leaves current mortgage untouched
Qualification based on home value
Homeowner counseling
Pays homeowners for sharing half the futureappreciation of their home
Makes payments directly to mortgage lenders
Cuts typical homeowner payments by more than 25%
WHO CAN BENEFIT
Extra funds help any homeowner better qualify for a mortgage. Most seniors will find it far better than a reverse mortgage. And it can be done before homeowners suffer the indignity of default and threatened foreclosure.Virtually any homeowner can benefit --
Default and foreclosure-challenged
New home buyers
Fixed-income seniors
WHO WILL FUND THE ACCOUNT
USAffordable HomeSM payments will be funded by institutional investors interested in residential real estate as an alternative asset class. It can also be a highly efficient investment of TARP or stimulus package dollars.
WASHINGTON, ARE YOU LISTENING?
Helps stop sliding home values-- fewer foreclosures and better qualified borrowers
Supports mortage modification and refinance
Reduces sky-high re-default rates with significant added income