Recently President Barack Obama announced his 2009 stimulus plan package. Also called the homeowner affordability and stability plan, which is another word for a housing stimulus plan. This stimulus plan proposed by Barack Obama would help homeowners who are having a hard time paying their mortgage and avoid foreclosure on their home. This plan would first try to help homeowners who are struggling with their monthly mortgage payment but have kept up with it but can not refinance to a decreased home value or not enough equity in their home. The plan Obama proposed would also help homeowners who have been laid off or out of work to due the ailing economy, refinance into a low 4.5% fixed rate mortgage saving them hundreds monthly. The Obama stimulus plan would also raise property values as more homes are bought and less homes go into foreclosure. Hopefully the Obama stimulus plan helps the overall economy and things start to stabilize. Homeowners now should start getting their paperwork together and research potential mortgage lenders in anticipation of the Obama Stimulus Plan.

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