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  1. The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub. L. 111–5 (text)), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.

  2. The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis. It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 ...

  3. An Act To provide needed housing reform and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION. 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE.—This Act may be cited as the ‘‘Housing and Economic Recovery Act of 2008’’.

  4. 5 Δεκ 2008 · Included in the act are provisions to strengthen and to unify oversight of the housing government-sponsored enterprises (GSEs—Fannie Mae, Freddie Mac and the Federal Home Loan Banks).

  5. Today, the President is announcing two steps the Administration is taking to support homeowners and their families – providing relief for servicemembers and veterans, including those wrongfully foreclosed upon or denied a lower interest rate on their mortgages, and reducing fees for FHA borrowers looking to refinance.

  6. Housing Program Overview In response to the housing crisis, the Obama Administration in early 2009 launched Making Home Affordable (MHA), a joint program of the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) to help struggling homeowners avoid foreclosure.

  7. The American Recovery and Reinvestment Act (ARRA) of 2009 was legislation designed to stimulate the U.S. economy by saving jobs jeopardized by the Great Recession of 2008–09 and by creating new jobs. It was enacted by the U.S. Congress and signed into law by Pres. Barack Obama.

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