Obama mortgage refinance stimulus plan will help millions of homeowners.
Main Points:
-Help home owners who have seen their property value decrease by 15% or more reduce their monthly mortgage

-Make home loans easier to modify or change.

-Keep the interest rates relatively low.

-No help is provided for market speculators.

-Help the homeowner before having to default on their loan.

A quick summary of the Homeowner Affordability and Stability Plan..

With so many different financial hardships homeowners across the country are scraping by to make their mortgage payments.
-Millions oh responsible homeowners who have been struggling to make their payments in full and on time have seen their property values fall and are now unable to refinance into a lower mortgage rate.

-Millions of jobs and hours have been cut back from average workers across the country. Many homeowners feel this effect in one way or another and can barely keep up with an unemployed spouse. Nearly 6 million jobless people are facing foreclosure on their home.

-Property values have sunk to record lows as each home that is foreclosed on lowers surrounding buildings worth nearly 8%..

This Homeowner Affordability and Stability plan is part of Obamas strategy to get the rough ailing economy back on the right track. Overall this plan should help between 7 to 9 million homeowners refinance their home mortgage into a better one to avoid foreclosure. This helps responsible homeowners from defaulting and stabilizes the overall housing market.

Check with your lender or research my other articles for more information.

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