President Obamas recent announcement of his housing stimulus plan may be great news for many struggling homeowners. President Obamas aim is to help responsible homeowners and homeowners who are unable to refinance due to owing more than their home is worth. Now the stimulus package that has been passed will help millions of homeowners who will automatically qualify for mortgage refinancing now if they feel it necessary to do so. Ideally this extra money homeowners have from getting a better mortgage will be used to help improve and stimulate the economy, as well as bolster home and property values. The values of homes should go up as less homes are foreclosed on and more are bought up as mortgage rates are finally at a manageable rate. This stimulus package from Obama also makes it easier for homeowners who have been hardest hit from declining property values to refinance into a better mortgage. Some homeowners since purchasing their house have seen the value of their home sharply decline in only a few years leaving many owing more than their home is worth. This housing stimulus plan from Obama should strengthen the housing market and the overall confidence in all markets. Hopefully it is in time to save the millions of homeowners who for whatever reason are facing foreclosure.

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