The recent announcement of President Obama and his housing stimulus plan is simply amazing news for potential homeowners or homeowners who are looking to refinance their home mortgage. President Obamas housing stimulus plan would mean that every single homeowner in the USA would have access to a fixed rate 4.5% mortgage rate. Also, their are other measures in the stimulus package to allow nearly 50% of all current homeowners to refinance into this low 4.5% fixed interest mortgage rate. The number of foreclosures is on the rise and will inevitably go up if something does not happen. The 4.5% mortgage stimulus plan Obama announced would have tremendous effects on the housing market by spurring new home sales and increasing property values. Not to mention giving relief to homeowners who are having a hard time making their mortgage payment. Ideally, these homeowners would have extra cash every month, still own their home, and help stimulate the economy. The housing stimulus plan announced by Obama could be just the answer we need to kick start the economy.

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