As nearly every American is, President Barack Obama is well aware of the current economic difficulties facing millions of homeowners. Home prices have plummeted, and the rapidly increasing amount of foreclosures worsens the situation by lowering surrounding home prices up to 9%. Many homeowners now have a mortgage that is worth more than their homes market value. In response to these issues, President Barack Obama enacted is “Making Home Affordable” plan which is a housing and homeowner mortgage refinance or modification stimulus plan.

This plan was enacted last month and millions of homeowners are eligible. Things that were usually required for refinancing a home loan such as, 20% equity in your home, in order to be approved for a refinance or modification of your mortgage. This Obama stimulus plan will make monthly mortgage payments more manageable for homeowners and help millions save hundreds per month, or avoid foreclosure. The ultimate goal of this “Making Home Affordable” package is to increase confidence in the housing market, help struggling homeowners, and prevent foreclosures. This will be done by using part of the $75 billion homeowner bailout package, approved by congress, to give cash incentives to mortgage lenders and banks to approve at risk homeowners for a mortgage modification or refinance. So with even more incentives to refinance your home, mortgage lenders will be more flexible on who actually gets approved and how much they are able to work with you.

Homeowners who are considering refinancing or modification of their current home loan using this stimulus plan, will be able to get a mortgage payment that is equal to or less than 31% of their gross monthly income. Currently, there are millions of homeowners who pay 40% or even 50% or more of their income to their mortgage. A 15% or 20% reduction in monthly payments would quickly add up to a lot of money, especially in these cases.

There is an exact set of guidelines mortgage lenders and banks will have to use when taking advantage of this stimulus refinancing plan. Taking advantage of this plan will easily save a lot of homeowners a lot of money, especially taking into consideration the savings would be every month for the length of the loan. Look into a home mortgage modification or refinance today and see how much money you can save thanks to Obama.

-M Petrone
www.RefinancingCondo.com

President Obamas $75 billion Home Mortgage Refinance plan will allow millions of homeowners a chance to refinance their home loan into a fixed rate 2% mortgage. Homeowners can easily save hundreds per month using this "Making Home Affordable" plan. Here is who qualifies:

-Homeowners who have made every mortgage payment on time and in full for the past 12 months. If you have any late fees or were late paying, that is ok, as long as you were not more than 30 days late.

-Many unfortunate homeowners have lost their job, have a reduced income, or are facing large medical bills, or other debts. If these homeowners are willing to sign a letter of “Financial Hardship” to that effect, they will have the chance to refinance into a 2% home loan.

-Homeowners by the millions have seen their property value drop by 15% or more due to the “Mortgage crisis”, to these homeowners, a home mortgage refinance will be offered at a fixed 2% rate.

-If your home mortgage is backed by home mortgage lending giants Fannie Mae or Freddie Mac, you are automatically eligible to modify your home loan into a new low interest rate.

-Homeowners who choose to loan modification rather than refinancing, will be able to get a mortgage payment that does not exceed their monthly income by more than 31%.

Under the guidelines of this “Making Home Affordable” plan from Obama, the government will give cash incentives to mortgage lenders and banks who approve modification or refinancing for these at risk homeowners. This means that even if denied before, now is a great time to refinance or modify your home loan. Between this and the all time low mortgage interest rates being offered, odds are good that a refinance is a financially smart thing to do. Taking advantage of this Obama bailout for homeowners will save millions of people hundreds of dollars every month.

-M Petrone
www.RefinancingCondo.com

If you or your mortgage lender used some “creative” mortgage financing options in order to get your home, you may now be feeling the financial burden, big time. If you are one of the millions of homeowners in this situation, then you need to pay attention and read this helpful advice.

Here are some of the most commonly asked questions regarding a home mortgage refinance and mortgage rates when refinancing. As well as what it all means for you.

How is my monthly mortgage payment determined?
Your payment amount is determined by how much you loaned, how long you are paying it back in and what rate of interest you are paying. The same thing applies for a mortgage refinance. Some homeowners have an ARM (Adjusted rate mortgage) which means the interest rate will fluctuate throughout the year, making the monthly payment vary from month to month, sometimes by a lot.

Is refinancing my home mortgage now a good idea?
That depends on the interest rate which you will be able to refinance at. Generally, if you can refinance your home mortgage into a new one with an interest rate that is lower than your current rate by 2% or more you will see a good savings every month by refinancing. Keep in mind though, each individual situation is different. Say you only have 6 years remaining on your current mortgage, in this case a refinance may not be a financially wise decision. Be aware of your financial situation and future plans when considering a home mortgage refinance.

Should I have any information with me before refinancing?
There is some basic financial and property information you should have before talking to a mortgage lender about a refinance. Know the assessed value of your property, you should receive a yearly copy of the statement from your local tax assessor. It also helps to be aware of current trends in your neighborhoods housing market. This includes local recently sold home values as well as homes currently for sale and their asking price. This helps ensure the best refinancing deal possible.

Refinancing a home mortgage the correct way will save you money every month, and possibly for homeowners facing foreclosure, your home. Check the internet for potential mortgage lenders and make your start from there.

-M Petrone
www.RefinancingCondo.com

An estimated 9 millions homeowners can now use President Obamas “Making Home Affordable” plan to refinance their home loan into a fixed 2% mortgage. Homeowners can save hundreds of dollars per month by taking advantage of this refinancing stimulus plan. Eligibility requirements are minimal and applying is easy. Here is how:

-Your existing home mortgage loan must be backed or insured by either Freddie Mac or Fannie Mae. You can check this out for yourself using their websites to check if your mortgage is backed by them.

-You need to have a perfect home loan payment history, for at least 1 full year. If even one mortgage payment is more than 30 days late, you are not going to be eligible for this mortgage refinance stimulus plan. However, if your mortgage payments were late, but not 30 days late or more, you will still qualify.

-The outstanding amount due on your mortgage must not exceed the value of your home by more than 5%. Use the mathematical formula [Remaining amount left on mortgage] / [Home Value]. If your figure is over 1.05% than you owe more than 105% percent of your homes value and will not qualify for this making home affordable stimulus package.

Here are some key points of this Making Home Affordable stimulus plan, if you qualify, from Obama:

-Even if you have a mortgage in which the loan to value exceeds 80% and have not paid for mortgage insurance before refinancing, you will not be required to pay it anytime after either.

-Especially these days, any home mortgage refinance will require income verification. It does not matter if the original mortgage was a stated income loan or not.

-This home mortgage refinance stimulus plan does not cover second mortgages of any kind.

-Their are no minimum credit scores needed to take advantage of this stimulus plan and refinance at 2%

-Mortgage lenders and banks are being given cash incentives for every at risk homeowner they approve for a refinance or modification. This will make being approved for a refinance easier than ever.

Typical homeowners, millions of them, are going to save hundreds of dollars every month by taking advantage of this Obama mortgage refinance stimulus plan. The housing market, as a result, will bounce back slowly as consumer confidence returns to their prior levels. Obamas 2% home refinance option will save a lot of homeowners a lot of money, but more importantly, it will save a lot of homeowners their homes.

-M Petrone
www.RefinancingCondo.com

President Barack Obamas home mortgage refinance plan, also called the “Making Home Affordable” program, is a home loan refinancing stimulus which will allow existing homeowners the chance to refinance their existing home loan into a fixed rate 2% mortgage. Millions of homeowners can refinance now and save. Here are basic eligibility requirements:
1)Your current home mortgage must be backed by either Fannie Mae or Freddie Mac. Look up your mortgage with their websites to find out if your home loan is backed or insured by them.
2)You mortgage payments must have been on time and in full for at least a year. Late fees are ok, but payments missed by 30 days or more are not.
3)The remaining balance of your home loan must not exceed the current market value of your home by more than 5%.
Should you happen to meet these requirements, and an estimated 9 million homeowners do, than here are some key points of this mortgage refinance stimulus plan from Obama:

1)If your were not required to purchase mortgage insurance before refinancing you will not be required to pay it afterwords using this mortgage plan either, including mortgages with an LTV of 80% or more.
2)Refinancing any mortgage will require strict income verification, even if it was not required for the initial home loan.
3)This stimulus refinance plan is not available for use on second mortgages.
Check Freddie Mac and Fannie Mae websites for more information regarding this home mortgage refinance stimulus plan from Obama.

Refinance a home mortgage the right way and see the savings start almost right away, especially if you take advantage if this stimulus plan from Obama. Using this “Making Home Affordable” plan may also help you save your home from foreclosure. Look into refinancing today to save a lot of money.

Millions of homeowners may be eligible for President Obamas home mortgage refinance plan. This stimulus package will allow homeowners the opportunity to refinance their existing home loan into a new 2% fixed rate mortgage. The savings can easily add up to hundreds per month. Qualifying is easy and here is how:

-Your existing home mortgage loan must be backed or insured by either Freddie Mac or Fannie Mae. You can check this out for yourself using their websites to check if your mortgage is backed by them.

-You need to have a perfect home loan payment history, for at least 1 full year. If even one mortgage payment is more than 30 days late, you are not going to be eligible for this mortgage refinance stimulus plan. However, if your mortgage payments were late, but not 30 days late or more, you will still qualify.

-The outstanding amount due on your mortgage must not exceed the value of your home by more than 5%. Use the mathematical formula [Remaining amount left on mortgage] / [Home Value]. If your figure is over 1.05% than you owe more than 105% percent of your homes value and will not qualify for this making home affordable stimulus package.

Here are some key points of this Making Home Affordable stimulus plan, if you qualify, from Obama:

-Even if you have a mortgage in which the loan to value exceeds 80% and have not paid for mortgage insurance before refinancing, you will not be required to pay it anytime after either.

-Especially these days, any home mortgage refinance will require income verification. It does not matter if the original mortgage was a stated income loan or not.

-This home mortgage refinance stimulus plan does not cover second mortgages of any kind.

-Their are no minimum credit scores needed to take advantage of this stimulus plan and refinance at 2%

-Mortgage lenders and banks are being given cash incentives for every at risk homeowner they approve for a refinance or modification. This will make being approved for a refinance easier than ever.

Typical homeowners, millions of them, are going to save hundreds of dollars every month by taking advantage of this Obama mortgage refinance stimulus plan. The housing market, as a result, will bounce back slowly as consumer confidence returns to their prior levels. Obamas 2% home refinance option will save a lot of homeowners a lot of money, but more importantly, it will save a lot of homeowners their homes.

-M Petrone
www.RefinancingCondo.com

Homeowners can now refinance their home mortgage into a 2% fixed rate using President Obamas "Making Home Affordable Plan". An estimated 9 million homeowners will qualify to save hundreds of dollars every month. Here are the requirements for this Obama mortgage refinance stimulus plan.

-Your existing home mortgage loan must be backed or insured by either Freddie Mac or Fannie Mae. You can check this out for yourself using their websites to check if your mortgage is backed by them.

-You need to have a perfect home loan payment history, for at least 1 full year. If even one mortgage payment is more than 30 days late, you are not going to be eligible for this mortgage refinance stimulus plan. However, if your mortgage payments were late, but not 30 days late or more, you will still qualify.

-The outstanding amount due on your mortgage must not exceed the value of your home by more than 5%. Use the mathematical formula [Remaining amount left on mortgage] / [Home Value]. If your figure is over 1.05% than you owe more than 105% percent of your homes value and will not qualify for this making home affordable stimulus package.

Here are some key points of this Making Home Affordable stimulus plan, if you qualify, from Obama:

-Even if you have a mortgage in which the loan to value exceeds 80% and have not paid for mortgage insurance before refinancing, you will not be required to pay it anytime after either.

-Especially these days, any home mortgage refinance will require income verification. It does not matter if the original mortgage was a stated income loan or not.

-This home mortgage refinance stimulus plan does not cover second mortgages of any kind.

-Their are no minimum credit scores needed to take advantage of this stimulus plan and refinance at 2%

-Mortgage lenders and banks are being given cash incentives for every at risk homeowner they approve for a refinance or modification. This will make being approved for a refinance easier than ever.

Typical homeowners, millions of them, are going to save hundreds of dollars every month by taking advantage of this Obama mortgage refinance stimulus plan. The housing market, as a result, will bounce back slowly as consumer confidence returns to their prior levels. Obamas 2% home refinance option will save a lot of homeowners a lot of money, but more importantly, it will save a lot of homeowners their homes.

President Obama has officially announced his “Making Home Affordable Plan” which will allow millions of homeowners, regardless of their personal financial situation, to refinance their home mortgage into a fixed 2% rate. Here are the 3 simple requirements to be eligible for this amazing refinance plan from Obama:

-Your existing home mortgage loan must be backed or insured by either Freddie Mac or Fannie Mae. You can check this out for yourself using their websites to check if your mortgage is backed by them.

-You need to have a perfect home loan payment history, for at least 1 full year. If even one mortgage payment is more than 30 days late, you are not going to be eligible for this mortgage refinance stimulus plan. However, if your mortgage payments were late, but not 30 days late or more, you will still qualify.

-The outstanding amount due on your mortgage must not exceed the value of your home by more than 5%. Use the mathematical formula [Remaining amount left on mortgage] / [Home Value]. If your figure is over 1.05% than you owe more than 105% percent of your homes value and will not qualify for this making home affordable stimulus package.

Here are some key points of this Making Home Affordable stimulus plan, if you qualify, from Obama:

-Even if you have a mortgage in which the loan to value exceeds 80% and have not paid for mortgage insurance before refinancing, you will not be required to pay it anytime after either.

-Especially these days, any home mortgage refinance will require income verification. It does not matter if the original mortgage was a stated income loan or not.

-This home mortgage refinance stimulus plan does not cover second mortgages of any kind.

-Their are no minimum credit scores needed to take advantage of this stimulus plan and refinance at 2%

-Mortgage lenders and banks are being given cash incentives for every at risk homeowner they approve for a refinance or modification. This will make being approved for a refinance easier than ever.

Typical homeowners, millions of them, are going to save hundreds of dollars every month by taking advantage of this Obama mortgage refinance stimulus plan. The housing market, as a result, will bounce back slowly as consumer confidence returns to their prior levels. Obamas 2% home refinance option will save a lot of homeowners a lot of money, but more importantly, it will save a lot of homeowners their homes.

-M Petrone
www.RefinancingCondo.com

Just a few years ago getting a home mortgage was easy, regardless of credit rating or income. It seemed like anyone could be a homeowner which is what triggered the mortgage crisis we are all currently going through. The greed of the mortgage lenders and banks led them to approve anyone they could, and just a few years later, the floor fell out. So, a question that is often asked today is “What is the minimum credit score I need to get a home mortgage?”

Typically, if you have a credit rating below 650, you will face more obstacles when attempting to get approved for a mortgage with half way decent terms, conditions, and interest rates. However, do not let this deter you from pursuing a home mortgage approval. Improving your credit score, even slightly, can equal big savings when applying for a home loan. Every single percentage point of interest you can save equals hundreds of dollars in savings, so it adds up very quickly. Try to pay off any smaller lingering debts that you can first, then attempt to pay down your other debts. Truth be told, a lot of people actually can pay off a large portion of their debts, but choose to make minimum payments and keep the cash in their pockets instead. This is a bad financial decision to make and is usually bad on your credit score. While making the minimum payments is technically OK, it shows no extra effort to pay down your debts. Try to pay down your credit cards to within 25% of their maximum limit, if not more. This proves you will not overextend yourself or credit and can be a responsible, mortgage paying, home owner.

So, to sum it up, getting a home mortgage, regardless of credit score, can vary greatly from person to person and place to place, but a score over 650 will help a lot and make things easier. Keep in mind though that obtaining a home mortgage with a credit rating lower than 650 is not at all impossible, it just takes a little more time and some research that can be easily done on the internet.

-M Petrone
www.RefinancingCondo.com

President Obamas “Making Home Affordable Plan” is a mortgage refinance and modification plan recently enacted in order to help millions of struggling homeowners having a hard time paying their mortgage some help. Mortgage refinancing will be offered to homeowners at a low 2% fixed rate which will mean hundreds of dollars per month in savings.

According to President Obama, an estimated 9 million homeowners will be able to take advantage of this home mortgage stimulus plan and either refinance or modify their home mortgage. These homeowners will be able to obtain a fixed 2% mortgage rate. Homeowners who are facing foreclosure can even apply and be approved in order to save their home.

Some of the other benefits of Obamas mortgage refinance stimulus plan are:

-Reduction in the total principal amount due on the home loan and a lower interest rate obtained through either refinancing or modification.

-Only homeowners with more than one mortgage will not be able to refinance at the ultra low 2% rate. This part of the plan is only for homeowners with one mortgage,

-Any mortgage backed by either Fannie Mae or Freddie Mac is automatically eligible to refinance or modify into a low, fixed rate, 2% home loan.

-If your homes value has dropped due to this mortgage crisis, or for any other reason, by 15% or more, you will be eligible to refinance into the 2% fixed rate. This means that less foreclosures would occur resulting in more confidence in the housing marker and an overall upswing in home values.

-Using the home modification plan, homeowners mortgage payments will not be allowed to exceed 31% of their gross monthly income.

-Refinancing or modifying a mortgage using this plan means there will be no closing fees or costs.

-When a home does get refinanced or modified through this Government package, a long term loan is typical. Home loans of 20 to 30 years are most likely as it helps drive down the monthly payments, and leads to a better chance of the homeowners being able to make the monthly payment.

Homeowners all across the country will greatly benefit from this stimulus refinance plan. President Obama wants homeowners to stay in their homes, and not lose them to foreclosure. This plan will restore confidence in the housing market, and with that home prices should rise once again. Taking advantage of this plan is relatively easy as the requirements are pretty minimal. Millions of homeowners can start seeing huge savings now by using this Government backed plan. Refinance now and save hundreds, or possibly, more importantly, your home.

-M Petrone
www.RefinancingCondo.com

There is still plenty of time left to refinance your home mortgage using President Obamas mortgage refinance stimulus plan. Millions of homeowners can take advantage of this program and refinance their existing home loan into a new one with better mortgage rates, terms, and conditions such as a 4.5% fixed rate, here is how:

-Homeowners facing foreclosure can refinance into a new low fixed rate 4.5% home mortgage.

-Fannie Mae and Freddie Mac insured or owned mortgages are automatically eligible for a 4.5% home loan or modification.

-Homeowners who do not have the typical 20% equity needed to refinance can now be approved for a modification or refinance with out it.

This mortgage refinance plan will help millions of homeowners refinance their home loan into a new one with better interest rates, terms, and conditions. As a result of this, foreclosures will be curbed and confidence in the housing market will return. Look into refinancing your home mortgage today and see the potential huge savings you most likely are eligible for.

-M Petrone
www.RefinancingCondo.com

The economy, and in particular the housing market, are going through some tough times. Luckily though, an estimated 9 million homeowners could start to see some relief thanks to President Barack Obamas “Home Affordability Plan” which is a home loan refinance or modification package that offers 4.5% fixed rate refinancing for all homeowners.

This plan, is backed by the Government to the tune of $75 billion, will give cash incentives to mortgage lenders and banks who follow the guidelines set by Obama. This means refinancing and home loan modification is easier than ever to get approved for, regardless of being denied in the past. These mortgage stimulus plans offer interest rates as low as 4.5% for all homeowners. This package will help curb the increasing number of foreclosures, which only add more chaos to the housing market, and help restore homeowner and buyer confidence. Here are some other ways that this stimulus home mortgage refinancing bailout plan from President Obama offers:

-The chance for homeowners who have seen their property values drop by 15% or more to refinance into a 4.5% fixed rate home loan and recover some of their losses. This helps a large number of homeowners who have purchased their house in the past 5 years and have since then seen their home values dwindle down significantly lower than what they paid for the home.

-Homes with mortgages backed or insured by one of the two gigantic mortgage lenders, Freddie Mac or Fannie Mae, are automatically eligible for a home loan modification, regardless of their financial situation. Under this plan, the monthly mortgage payment will not be allowed to exceed 31% of the homeowners gross monthly income.

-Homeowners who are facing immediate foreclosure are eligible for a stream line mortgage refinance procedure that will allow them to save their home and refinance into a stable fixed 4.5% interest rate. This may be the only option some homeowners have left.

-A requirement for this stimulus refinance plan is that the homeowner use the home as a primary residence. This mortgage package from Obama does not cover second homes or investment properties.

-Some of the typical requirements needed in the past such as 20% equity in your home, are no longer needed to refinance or modify a home loan by mortgage lenders and banks participating in this bailout.

Refinancing a mortgage has never been easier or more beneficial than it is now for millions of homeowners. Taking advantage of this “Home Affordability Plan” from President Obama is almost a sure fire way to save hundreds of dollars each month on your home loan payments. The rush to refinance is on and you should to as the results can easily be one of the most money saving things you can possibly do.

-M Petrone
www.RefinancingCondo.com

An Introduction to Home Loan Refinance.
Home mortgage refinancing is just taking out a new loan, with better interest terms or conditions, and replacing it with your current home loan. This is a great option for homeowners who want to save money through improved credit rating or lower interest rates. This also can be a great choice for homeowners who are looking for a large amount of cash to finance a big ticket purchase such as, home repairs or improvements, tuition, medical bills, car loans, and credit or other debts. A cash out refinancing is when you take out a loan for more than your current mortgage is for and pocket the difference. No matter the reason, there are all types of home refinancing types available to homeowners in todays market.

When Should I Refinance?
Many homeowners have an ARM (Adjusted rate mortgage) and have seen their rates rise in recent months as the mortgage crisis kicked in. Refinancing out of an ARM and into a stable, fixed rate mortgage, is a financially smart decision to make. Although, exactly when the right time for a refinance is completely dependent upon your personal financial situation. With that said, it is important to ask yourself some questions prior to pursuing a mortgage refinance.

-How much equity do you currently have in your home?

-How much are you willing to give up or compromise in terms of length of loan, and terms and conditions are you willing to give up in order to get the absolute lowest interest rate you can?

-How long are you planning on living in your home?

-Is the cost of refinancing your home mortgage worth the savings that you will be getting? If so, when will you start seeing the savings (This is called the break in period)?

Refinancing a mortgage from an adjustable rate into a fixed rate.
It is usually the best decision to obtain a fixed rate mortgage. Refinancing out of an ARM and into a fixed rate is an option many homeowners pursue. Typically, a fixed rate mortgage offers long term financial stability and takes the guess work out of what your mortgage payment will be every month. However, if you plan on living in your home only for a few more years, an adjustable rate mortgage may not be a bad decision, and refinancing may not be the best choice.

Should I “lock in” an interest rate?
Although predicting future mortgage rates is both risky and impossible, statistically speaking, mortgage rates generally rise fast, and then slowly drop. So if you are thinking of refinancing you home mortgage, it is not a bad idea to act now and lock in a great interest rate. You always have the option to refinance a mortgage again in the future should interest rates drop again. However, as said earlier, every financial situation is different and locking in a rate may not always be advisable, but in general, it is.

Differences between the actual worth of your home and the estimated value.
A homes actual worth is determined by what home buyers will pay taking into account the property, neighborhood, and other factors. A homes estimated value is usually figured by taking into account other homes of comparable value, in comparable neighborhoods, that have been sold recently. The price usually used by banks and mortgage lenders is the actual price of your home should you sell it in todays market.

Although these are some useful tips, patience and research on potential mortgage lenders and banks are the best ways to ensure you get the very best refinancing deal possible. Refinance now, the right way, and save a lot of money, and possibly, your home.

-M Petrone
www.RefinancingCondo.com

President Obamas recently enacted homeowner mortgage stimulus plan will allow millions of homeowners the amazing chance to refinance their current home mortgage into a new one with a 4.5% fixed rate. This “Mortgage Refinance Affordability Plan” will have homeowners savings hundreds per month. Here is how it works:

-Right now, there are several grants, tax credits, and incentive programs to help homeowners overcome this tough economy and mortgage crisis, regardless of their credit history. Although these Government backed programs are designed for help in the short term, it will save millions of homeowners from losing their home to foreclosure or forced sale. These government grants and loans can also be used to pay off other debts a homeowner may have such as credit cards, auto loans, tuition, and a whole list of others.

-Also now available to homeowners who are facing “Financial Hardship” are home loan modification programs. These “Financial Hardships” can be a loss of job, loss of income, hospital bills, tuition, credit card debts, auto loans, and other expenses. Using these home mortgage modification programs, a homeowners mortgage payment will not be more than 31% of their gross monthly income. In addition to that, a homeowners total monthly debts, including mortgage payments, must not exceed 51% of the gross monthly income of the homeowner.

-Both President Barack Obama and the Federal Reserver would love to see mortgage interest rates set at a fixed 4.5% for all homeowners and any potential home buyers for the life of the home loan.

-Free, professional, mortgage counseling is available to homeowners using HUD. These mortgage counselors will act as representatives on your behalf and represent you when talking with banks and mortgage lenders about refinancing or modification of a home mortgage.

-Property values that have dropped by more than 15% as a result of this economy and mortgage crisis can now refinance their home into a fixed rate 4.5% home mortgage. This really helps homeowners who have seen their property and surrounding values drop as a result of the mortgage crisis.

Refinancing your mortgage using President Obamas “Home Affordability Plan” will save millions of homeowners thousands of dollars over the course of their home loan. The rush to refinance is on as homeowners look to take advantage of this refinance stimulus plan and lock themselves into a fixed rate low interest loan. Others are using this refinance package to save their home from foreclosure. Either way take advantage now and see the savings start to quickly add up.

-M Petrone
www.RefinancingCondo.com

A homeowner can refinance their mortgage as many times as they want to. However, there are some things to considered when you think about a refinance, especially multiple times, in order to save money. Most people look to refinancing to save money on interest rates, and if you have done all the calculations and pro versus cons of refinancing, and realize you will not save any money,then it is not smart to refinance at this time.

A lot of homeowners like to thinks that when interest rates drop it is automatically time to refinance. While this is a good general rule of thumb as to to when to refinance, other things need to be taken into consideration as well. Refinancing is just getting a new loan to pay off an old one, and every time that happens there are associated fees and costs associated such as, insurance, appraisal fees, taxes and recording fees to name a few. Also, some home mortgages have pre payment penalties that deter homeowners from refinancing due to having to pay steep fees in order to do so.

Although these fees and costs can be added to your loan amount and financed, you must take into account that your new mortgage loan will be for more and as a result you will be paying higher monthly payments, and interest on those closing fees. So you must make sure that even if you are refinancing into lower interest rates, you will actually still get lower monthly mortgage payments, and save money.

Many homeowners see their financial pictures drastically change, sometimes multiple times, throughout their home ownership. An improved credit rating, drastically increased or decreased debts, low interest offers, or maybe your done paying tuition, all of these and many more things can make a refinance the right decision for a homeowner.

Whenever or however many times you refinance is entirely up to you. It may not be always be beneficial, but it is ultimately your choice. Refinancing a home the right way can lead to lower monthly mortgage payments, a shorter home loan, reduced interest, or better terms and conditions. However, refinancing a home the wrong way can cost you thousands of dollars in expenses and possibly your home. Do some basic research on potential mortgage lenders, average national interest rates, and the terminology used in a refinance. By practicing this and some patience you allow yourself the best to refinance the right way.

-M Petrone
www.RefinancingCondo.com

President Obamas 2009 home mortgage refinance stimulus package will allow millions of homeowners the chance to refinance or modify their home mortgage into a new one with a 4.5% fixed rate. Take advantage of this amazing opportunity and refinance now using this “Home Affordability Plan” from President Obama, here is how:

-Homeowners who have a mortgage owned or insured by either Fannie Mae or Freddie Mac are automatically eligible for a mortgage refinance or modification into this 4.5% fixed rate.

-Homeowners who have a mortgage that is worth more than their homes market value, up to 105%, can still apply for refinancing. This helps millions of homeowners who have seen their property values drop as the mortgage crisis took effect.

-Free, professional mortgage help and counselors are available under this plan. Using HUD (The U.S. Federal Department of Housing and Urban Development) These mortgage counselors will act on your behalf when dealing with banks and mortgage lenders.

-Under this Obama mortgage stimulus plan, a lot of banks and mortgage lenders have implemented new refinancing and home loan modification programs who may not have been approved prior.

-Now, using mortgage modification and this stimulus plan, monthly mortgage payments can not exceed 31% of the homeowners gross monthly income.

-Long term home loans, 20 or 30 years, are encouraged to further reduce monthly home loan payments.

-There are now several grants, tax credits, and loans to help homeowners who are facing foreclosure and other debts.

-The Federal Reserve and President Obama would both like to see interest rates set at a fixed 4.5% for all current homeowners, and new home buyers.

-Banks and mortgage lenders will be given cash incentives to approve refinancing or modification for homeowners who are facing foreclosure. This will make being approved easier.

Millions of homeowners are eligible to refinance under this mortgage stimulus refinance plan. This plan will help homeowners save hundreds of dollars every month on their mortgage payments. This can happen through reduced interest, longer loan terms, or better conditions. Homeowners everywhere are taking advantage of this mortgage stimulus plan and refinancing their home loans and seeing huge savings every month. Save a lot of money now, or more importantly, your home.

-M Petrone
www.RefinancingCondo.com

Earlier in the week President Obama revealed his home mortgage foreclosure stimulus plan that will help current homeowners refinance their mortgage at 4.5% and first time home buyers be able to also get a 4.5% mortgage rate.

Here are some key elements to the proposed Obama housing stimulus plan:
*It would help current homeowners whose property has by a value of at least 15% with lower monthly mortgage payments. This helps people whose property or home has dropped in value.
*Make it easier for current borrowers to modify home loans loans.
*Keep and control interest rates at a low ideally 4.5%.
*Provide no help for market speculators and those who profit on peoples financial downfalls.
*Help existing homeowners before they default on their loan by allowing them to refinance their mortgage at 4.5%

This tough economy is making it harder for good financially responsible home owners and mortgage payers to get that payment in every month in full and on time. Hopefully though by allowing them a chance to refinance at a 4.5% interest rate, they will lower their costs enough to increase their standard of living, pay off bills, or save. Also, recently millions of people or their spouse have lost their jobs or have had their income reduced, which is adding to the nearly 6 million homes facing foreclosure. Property values in neighborhoods are really struggling, a 4.5% interest rate would almost instantly raise home values as property values also rise as less homes are foreclosed on and more are bought and sold.

Refinancing a home mortgage is an option many homeowners look into when they are having a hard time paying their home loan, or high interest rates from an ARM (Adjusted Rate Mortgage) loan have kicked in. Something to remember when refinancing your home is that your loan length will be increased unless you choose to get into a 15 year loan. This may discourage some homeowners who are reaching the age of retirement. Refinancing a home into a new 30 year loan when you are 55 years old means that you will be paying off your home until you are 85. Where as a 15 year mortgage would be paid on by the time you are 70.

A home mortgage refinance is great for reducing your interest rates, but their will be closing costs and fees involved. Some mortgage lenders and banks offer a no or low cost closing option but generally, the interest rate you get will be higher to make up for the thousands of dollars in closing costs. Make sure you take into your calculations and considerations these costs when figuring out if a refinance is the right choice for you. A lot of times though, these costs are easily minimized by the savings you can get, especially if you need to save your home.

When considering a refinance make sure to check with potential mortgage lenders and banks to find one that has the lowest rates and best terms, conditions and closing costs. Only refinance your home if you can get a interest rate that is 2% or more lower than your current interest rate. Refinancing into a higher rate will make your payments even higher!

Homeowners should take advantage of the record low mortgage interest rates available all over the country and refinance their home now. Add that to President Obamas mortgage stimulus plan and millions of homeowners will save hundreds of dollars by refinancing their home mortgage today. Refinance the right way and save a lot of money every month, and maybe your home.

-M Petrone
www.RefinancingCondo.com

When you choose to refinance a home mortgage, there are many different options available to you. You can choose to get a cash back refinance, change the terms or conditions of your current home loan, extend the length of the home loan, or lower the monthly payments through reduced interest rates. Here is some advice and tips for when you are looking into a home mortgage refinance.

Basically, there are three different ways you can refinance your home mortgage. The most popular option is lowering monthly mortgage payments. This is typically done in one of two ways. One, is to have your interest rate lowered. Mortgage interest rates are at near all time lows all over the country and if your credit has remained the same or improved, a refinance will save you a low of money through reduced interest payments. Another option for reducing your monthly home loan payments is to increase the length of your loan. Extending the length of your home loan can dramatically reduce the amount of your monthly mortgage payment. This can be a great choice for people who have bad credit.

Getting cash back from your homes equity is also an option. This can be especially useful if you are looking into making a big ticket purchase such as a new car, home improvements, or renovations, that you would not be able to pay for otherwise. Changing the terms and length of your home mortgage can also be a great way to make your mortgage payments fit into your financial picture. These are the most popular ways people refinance in order to get a lower monthly mortgage payments.

When looking into refinancing your mortgage, make sure you comparison shop around between potential mortgage lenders and banks to ensure you get the best interest rates, terms, and conditions, possible. Take advantage of the low mortgage rates available all over the country and refinance now to start seeing huge savings every single month.

-M Petrone
www.RefinancingCondo.com

Recently, President Obama announced his “Mortgage Stimulus Refinance Plan” which allows millions of homeowners the chance to refinance at a 4.5% fixed rate. Hundreds of dollars can be saved for the average homeowner who takes advantage of this refinancing plan. Here is how this “Home Affordability Plan” works:

There are 2 main parts to this home mortgage bailout stimulus plan from President Obama:

1.Home Mortgage Refinancing
2.Home Loan Modification

Here is some more details about each of these plans:

-The Home Mortgage Stimulus Refinance Plan
Using this program, homeowners who have a mortgage backed or insured by either lending giant Freddie Mac or Fannie Mae are eligible for a mortgage refinance even if they owe more than their home is worth. This only requirement is that the mortgage be backed by one of the two lenders. Homeowners who are still managing to make their mortgage payments and have not felt the effects of this bad economy are still capable to take advantage of this plan. Another condition is that the home to be refinanced is the main residence of the homeowner. Obamas mortgage stimulus refinance plan does not cover second homes or investment properties.

-The Home Loan Modification Package
The government will give cash incentives to mortgage lenders and banks who approve home refinancing for homeowners. Interest rates can be reduced to as low as 2% to meet the programs requirements and millions of homeowners can avoid foreclosure. The length of the loan is usually increased in order to make up for the lower payments. Using the loan modification program homeowners mortgage payments may not exceed 31% of the homeowners gross monthly income.

Millions of homeowners can take advantage of this mortgage stimulus plan from Obama and save hundreds per month on their mortgage. This plan will help curb the rising number of foreclosures as well as restore confidence in the market. Take advantage and refinance your home mortgage now.

-M Petrone
www.RefinancingCondo.com

Homeowners who have missed, or are struggling to make their mortgage payments, now have some relief. President Obamas mortgage refinance stimulus plan makes an estimated 9 million homeowners eligible for a home mortgage refinance at a 4.5% fixed rate. Hundreds of dollars per month can easily be saved on mortgage payments.

Here are some of the requirements needed to fully take advantage of this “Home Affordability Plan” from Obama:


-The amount remaining on the mortgage must be for less than $729,500

-The home mortgage must have been closed on and finalized before January 1st 2009.

-The homeowner must use the house to be refinanced as a primary residence.

-Your income levels must be verified through the use of tax returns or pay stubs.

-A letter of “Financial Hardship” handwritten and signed by you is needed. This can be a loss of income, job, high medical bills or other expenses leading to your financial hardship.

-The homeowner must agree to get credit counseling if monthly debts, including the mortgage, exceed 55% of the homeowners gross monthly income.

Here are some things that banks and mortgage lenders can now offer you:

-The bank or mortgage lender can lower your monthly mortgage payment to 31% of your gross monthly income.

-Home interest rates can go as low as 2% in order to meet these guidelines set by President Obama.

-Homeowners will not have to pay any fees for home loan modification. These will be paid by the Government as part of the mortgage bailout plan.

-The bank or mortgage lender has the option of setting up a balloon payment at the mortgages end if the monthly payments were too low.


-Any balloon payments will have to be paid off in full should the homeowner want to sell or again refinance their property.

-Incentive plans are in place, backed by the government, which will gradually reduce the homeowners principal over the course of 5 years, up to a maximum of $5,000, for making mortgage payments on time.

-The mortgage interest rates are adjustable after a 5 year period. The low 2% and 4.5% mortgage interest rates are temporary fixes to help homeowners get out of their financial problems.

-Only one mortgage modification can happen using this mortgage stimulus plan, their will be no renegotiating later down the road after this.

Homeowners who are current and up to date on their mortgage payments and have a bank or mortgage lender who will not allow you to refinance or modify your mortgage due to the property values plummeting and the mortgage now being worth more than the home. There is now plans from Obamas mortgage refinance stimulus plan which will allow homeowners a chance to refinance, regardless if they have been declined before.

Here are some of the refinancing options using this Obama stimulus plan:


-The home must be the primary residence of the homeowner. This plan does not cover, investment properties, or second homes.

-Your income must be sufficient to pay the new mortgage amount.

-You are not able to perform a cash out refinance to pay down other debts using this stimulus plan.

-The home loan must be insured or owned by Freddie Mac or Fannie Mae.

-Homeowners can lock in a fixed 4.5% mortgage rate for 15 or 30 years.

-Even lower interest payments may be offered by the bank over the course of 5 years.

-Homeowners can now refinance up to 105% of the value of their home.

Refinancing a home mortgage will save millions of homeowners hundreds of dollars every month. This mortgage stimulus plan from Obama will stabilize the housing market and curb the foreclosures happening everywhere. This will restore confidence in the market and home values will start to rise again. Refinancing the right way, especially using this Obama stimulus plan, will save homeowners hundreds per month, or more importantly, their home.

-M Petrone
www.RefinancingCondo.com

An estimated 9 million homeowners will save hundreds of dollars per month on their mortgage payment using President Obamas mortgage refinance stimulus plan. This plan will allow homeowners the option to refinance into a 4.5% fixed rate home loan, and see huge savings, here is how:

Homeowners who have missed a payment or more can apply for mortgage modification using the Obama stimulus package. This will help the homeowner save their home and avoid foreclosure, regardless of their personal financial situation.

Here is some tips and eligibility requirements for Obamas mortgage stimulus package:

-The amount remaining on the mortgage can not exceed the value of the house bye more than 5%. Refinancing a home is still possible with a mortgage that is worth up to 5% more than the market value of the home.

-If the home mortgage is insured by Fannie Mae or Freddie Mac, then you are automatically eligible for a mortgage modification. Using this modification plan from Obamas stimulus means that the monthly mortgage payment must not exceed 31% of the homeowners gross monthly income.

-President Obama as well as the Federal Reserve would both like to see home mortgage interest rates set at a fixed rate of 4.5% for all homeowners and home owners of the future.

-The government will give cash incentives to mortgage lenders and banks who approve refinancing or modification for homeowners who are at risk of losing their home. This means that the typical qualifications needed to refinance a home loan are no longer in place.

-Their are free mortgage counselors available from HUD. These counselors act on your behalf and as your representative when dealing with banks or mortgage lenders. There is no fees for this service using the Obama stimulus plan.

Overall, this home mortgage refinance stimulus plan from President Obama will save millions of homeowners hundreds of dollars per month. More importantly though, this will restore some stability to the housing market and prices will begin to rise again as more confidence in the housing market is built again. Refinancing a home mortgage now, especially using this Obama mortgage plan, will save homeowners thousands of dollars over the life of the loan. Look into it now and save some money, or more importantly, your home.

The struggling housing market and economy have led to a record number of foreclosures and personal bankruptcies. Luckily, President Obamas home mortgage refinance stimulus plan will help an estimated 9 million homeowners refinance their home loan into a fixed rate 4.5% mortgage. This will help homeowners save hundreds per month.

Homeowners who have missed a payment or more can apply for mortgage modification using the Obama stimulus package. This will help the homeowner save their home and avoid foreclosure, regardless of their personal financial situation.

Here is some tips and eligibility requirements for Obamas mortgage stimulus package:

-The amount remaining on the mortgage can not exceed the value of the house bye more than 5%. Refinancing a home is still possible with a mortgage that is worth up to 5% more than the market value of the home.

-If the home mortgage is insured by Fannie Mae or Freddie Mac, then you are automatically eligible for a mortgage modification. Using this modification plan from Obamas stimulus means that the monthly mortgage payment must not exceed 31% of the homeowners gross monthly income.

-President Obama as well as the Federal Reserve would both like to see home mortgage interest rates set at a fixed rate of 4.5% for all homeowners and home owners of the future.

-The government will give cash incentives to mortgage lenders and banks who approve refinancing or modification for homeowners who are at risk of losing their home. This means that the typical qualifications needed to refinance a home loan are no longer in place.

-Their are free mortgage counselors available from HUD. These counselors act on your behalf and as your representative when dealing with banks or mortgage lenders. There is no fees for this service using the Obama stimulus plan.

Overall, this home mortgage refinance stimulus plan from President Obama will save millions of homeowners hundreds of dollars per month. More importantly though, this will restore some stability to the housing market and prices will begin to rise again as more confidence in the housing market is built again. Refinancing a home mortgage now, especially using this Obama mortgage plan, will save homeowners thousands of dollars over the life of the loan. Look into it now and save some money, or more importantly, your home.

-M Petrone
www.RefinancingCondo.com

Now, homeowners can use the mortgage stimulus plan from President Obama to refinance their home mortgage into a 4.5% fixed rate. Millions of homeowners are eligible to refinance using this mortgage bailout plan from Obama. Take advantage now and refinance your home now, heres how.

Here are some key elements to the proposed Obama housing stimulus plan:

-It would help current homeowners whose property has by a value of at least 15% with lower monthly mortgage payments. This helps people whose property or home has dropped in value.

-Make it easier for current borrowers to modify home loans loans.

-Keep and control interest rates at a low ideally 4.5%.

-Provide no help for market speculators and those who profit on peoples financial downfalls.

-Help existing homeowners before they default on their loan by allowing them to refinance their mortgage at 4.5%

This tough economy is making it harder for good financially responsible home owners and mortgage payers to get that payment in every month in full and on time. Hopefully though by allowing them a chance to refinance at a 4.5% interest rate, they will lower their costs enough to increase their standard of living, pay off bills, or save. Also, recently millions of people or their spouse have lost their jobs or have had their income reduced, which is adding to the nearly 6 million homes facing foreclosure. Property values in neighborhoods are really struggling, a 4.5% interest rate would almost instantly raise home values as property values also rise as less homes are foreclosed on and more are bought and sold.

The Obama homeowner bailout program is a mortgage stimulus plan which will allow homeowners a chance to refinance their current home loan into a new one which would be locked into a 4.5% fixed rate. Under this plan, an estimated 9 million homeowners will be able to refinance or modify their mortgage and save hundreds of dollars every month.

The government will spend over $75 billion on this “Making Home Affordable” plan and ideally help to restabilize the housing market. This money will be used in part to give cash incentives to banks and mortgage lenders who participate in this program and refinance homeowners under its guidelines. With the cash incentives, lenders and banks are more likely to approve a greater number of refinance or modification applications, and help curb the stem of foreclosures. Things that would be typically needed in order to refinance a home, such as 20% equity, are no longer needed.

This plan will help homeowners by:

-Easing restrictions on refinancing or home loan modification by using cash incentives to entice mortgage lenders and banks to approve more applications.

-President Barack Obama & the Federal Reserve would like to see home mortgage interest rates set at a fixed 4.5% for all homeowners and new home buyers.

-Homeowners who have a mortgage backed by Freddie Mac or Fannie Mae are automatically eligible for a loan modification if they are going through any financial hardships. Under this plan, the monthly mortgage payment, after modification, may not exceed 31% of the homeowners gross monthly income.

-Streamlined processes are in place to enable homeowners facing foreclosure a chance to quickly refinance and potentially save their home.

-If the homeowner has seen the value of their property fall by 15% or more, than refinancing into a fixed rate 4.5% home loan is now possible. This will help a lot of homeowners who have seen decreasing property values since this mortgage crisis has begun.

Under these guidelines set in place by President Obama, millions of homeowners will save a lot of money by refinancing their home loan. This will help the over all housing market and restore confidence, curb foreclosures, and save homeowners a lot of money. Refinance your home now and see the savings start, or more importantly, possibly save your home.

-M Petrone
www.RefinancingCondo.com

Refinance your home mortgage using President Obamas home mortgage refinance stimulus plan. This plan allows MILLIONS of homeowners the chance to refinance their existing mortgage into a new one with a fixed 2% interest rate. This plan will save homeowners hundreds per month, here is how:

-The government will give cash incentives to mortgage lenders and banks who approve at risk homeowners for refinance or modification using the guidelines of this stimulus plan. This means that the eligibility requirements for refinancing are much more lenient than they have ever been. Things like 20% equity in your home, typically needed to refinance, are no longer needed if the lender is following the stimulus plans guidelines.

-A lot of homeowners have seen the value of their property drop by 15% or more due to this mortgage crisis. In this case, the homeowners will be able to refinance into a fixed rate 2% home loan.

-Fannie Mae and Freddie Mac owned or insured home loans will automatically be eligible for a mortgage modification. The only requirement is some type of financial hardship such as loss of job, loss of income, hospital bills, and a long list of other hardships. The new monthly mortgage payment may not exceed 31% of the homeowners gross monthly income.

-Homeowners who are facing immediate foreclosure can refinance using a streamlined quick closing approach that this mortgage stimulus plan offers. This will help curb some of the growing number of foreclosures and help stabilize the overall economy.

-Refinancing or modifying a current home loan will now be easier and make more financial sense for homeowners.

-The Federal Reserve as well as President Obama would like to keep home mortgage interest rates at a fixed 2% for all homeowners, and new home buyers.

Refinancing a home mortgage into a fixed 2% interest rate will save millions of homeowners hundreds of dollars every month. The housing market will eventually recover and home prices will rise again and this stimulus package will no longer be in effect. Take advantage of this amazing chance to refinance your home loan today and potentially save thousands of dollars over the course of the home loan. The rush to refinance home mortgages is on and you should at least look into it to see potential savings. Refinance now and save hundreds of dollars every month, and possibly your home.

Great news for millions of homeowners due to President Obamas mortgage refinance stimulus plan. This "Home Affordability Plan" will allow an estimated 9 million homeowners a 4.5% fixed rate home mortgage refinance. The savings could easily add up to hundreds of dollars per month, here is how:

-The government will give cash incentives to mortgage lenders and banks who approve at risk homeowners for refinance or modification using the guidelines of this stimulus plan. This means that the eligibility requirements for refinancing are much more lenient than they have ever been. Things like 20% equity in your home, typically needed to refinance, are no longer needed if the lender is following the stimulus plans guidelines.

-A lot of homeowners have seen the value of their property drop by 15% or more due to this mortgage crisis. In this case, the homeowners will be able to refinance into a fixed rate 4.5% home loan.

-Fannie Mae and Freddie Mac owned or insured home loans will automatically be eligible for a mortgage modification. The only requirement is some type of financial hardship such as loss of job, loss of income, hospital bills, and a long list of other hardships. The new monthly mortgage payment may not exceed 31% of the homeowners gross monthly income.

-Homeowners who are facing immediate foreclosure can refinance using a streamlined quick closing approach that this mortgage stimulus plan offers. This will help curb some of the growing number of foreclosures and help stabilize the overall economy.

-Refinancing or modifying a current home loan will now be easier and make more financial sense for homeowners.

-The Federal Reserve as well as President Obama would like to keep home mortgage interest rates at a fixed 4.5% for all homeowners, and new home buyers.

Refinancing a home mortgage into a fixed 4.5% interest rate will save millions of homeowners hundreds of dollars every month. The housing market will eventually recover and home prices will rise again and this stimulus package will no longer be in effect. Take advantage of this amazing chance to refinance your home loan today and potentially save thousands of dollars over the course of the home loan. The rush to refinance home mortgages is on and you should at least look into it to see potential savings. Refinance now and save hundreds of dollars every month, and possibly your home.

-M Petrone
www.RefinancingCondo.com

President Obamas home mortgage refinance stimulus plan, is officially called the “Home Affordability Plan”. This housing stimulus plan will allow homeowners the chance to refinance into a fixed rate 2% home mortgage. An estimated 9 million homeowners qualify for this mortgage refinance stimulus plan and here is how:

-Under this mortgage refinance stimulus plan from Obama, the government will give cash incentives to mortgage lenders and banks who approve refinancing for homeowners who would otherwise not be approved. These cash incentives allow mortgage lenders to approve more refinancing applications, and ease their requirements for a home refinance.

-Homeowners facing any type of financial hardships such as medical bills, loss of job or income, or other things can apply for a mortgage refinance into a new 2% fixed rate home loan.

-If the loan is from, or insured by one of the two mortgage giants, Freddie Mac or Fannie Mae, you will automatically qualify for a home mortgage modification that will result in your monthly mortgage payments not exceeding 31% of your gross monthly income.

-Homeowners looking to use this stimulus plan to refinance a second home, or an investment property will not qualify for this mortgage stimulus plan. In order to qualify, the homeowner must live in they home as a primary residence.

-The typical 20% equity needed to refinance a home is no longer. This helps millions of homeowners who bought their home just a few years ago during the mortgage boom times and have since seen the value of their property drastically fall.

-Both the President Obama and the Federal Reserve would like to set interest rates at 2% for all homeowners, current and potential

-Homeowners who have been hardest hit from this mortgage crisis and have seen the value of their property drop by 15% or more will be given a chance to refinance, using this mortgage stimulus plan, into a fixed rate 2% home mortgage.
Refinancing a home mortgage, especially using this mortgage stimulus plan from Obama, will enable almost 9 million homeowners the chance to refinance their mortgage and save hundreds every month. There is a rush of homeowners applying to refinance as they attempt to take advantage of this plan from Obama. Refinance right and save money, but most importantly maybe your home.

-M Petrone
www.refinancingcondo.com

Millions of homeowners are eligible take advantage of President Obamas mortgage stimulus plan. Here, I have broken down the requirements and substantial benefits this government backed mortgage refinance plan offers, such as options to refinance into a fixed rate 2% home loan.

Here are some of the requirements and huge benefits millions of homeowners can take advantage of using this mortgage stimulus plan:

-Homeowners who are facing foreclosure or any kind of financial hardship such as, medical bills, high debts, school loans, loss of job, reduced income, or numerous other reasons can now, using this mortgage refinance stimulus plan, refinance their home loan into a fixed rate 2% mortgage.

-Millions of homeowners will benefit from the fact that the Federal Reserve, and President Obama would like to keep home mortgage interest rates as low as possible, somewhere around 2%, for all homeowners, and potential home buyers.

-Streamlined refinancing and mortgage modification programs are now in place to help homeowners who are on the verge of losing their home through foreclosure. This will enable homeowners to quickly refinance or modify their existing mortgage, often quickly enough, to save their home.

-If you are a homeowner who has seen the value of their property drop by 15% or more, and millions have due to this mortgage crisis, you will be eligible to refinance your mortgage into a fixed rate 2% home loan. This will prove beneficial to millions of homeowners who purchased their home when times were good, and the housing market was booming. Since those times though, millions of homeowners have seen their values drastically drop due to the chaos in the housing market.

-Another eligibility requirement of this “Home Affordability Plan” from Obama is that the home in question, needs to be the primary residence of the homeowner. That means that refinancing a second home, investment property, or vacation property, using this mortgage stimulus plan, will not be possible.

Your home is probably the most expensive thing you will ever own in your life. You should not allow your home to be lost due to a bad mortgage, or this struggling housing market. Millions of homeowners easily will qualify for a mortgage refinance at a 2% fixed rate by taking advantage of President Obamas mortgage refinance stimulus program. Refinance your home now and save yourself potentially hundreds of dollars every single month, or more importantly, your home.

-M Petrone
www.RefinancingCondo.com

President Obama has recently laid out in detail his mortgage stimulus plan which allow millions of homeowners the option of refinancing their mortgage into a stable fixed 2% rate home loan. Right now, millions of homeowners are eligible to refinance their mortgage using this mortgage stimulus plan and will start saving lots of money.

Here are some of the main points of this Obama housing stimulus plan:

-Help homeowners who have seen the value of their property seriously drop, by 15% or more, refinance with lower monthly mortgage payments. This will help homeowners whose property or home has lost some value throughout this mortgage crisis refinance into a better loan for their home.

-Make being approved for home mortgage refinancing or modification easier and more beneficial to homeowners.

-The Federal Reserve and President Obama would like to see home interest rates stay at a fixed 2% for all homeowners and potential home buyers.

-To refinance using this mortgage stimulus plan the home must be the primary residence of the homeowner. Investment, second, or vacation properties do not qualify for refinancing using this government mortgage stimulus program.

-Provide help to existing homeowners before they start facing foreclosure or mortgage default by allowing them to refinance their home mortgage into the fixed 2% rate.

The tough economic times that everyone is going through have really taken a toll on homeowners. Refinancing a home mortgage now using this Obama stimulus plan will enable millions of homeowners to save lots of money and maybe more importantly, prevent a lot of homeowners from being foreclosed on and losing their home altogether. Mortgage lenders and banks are approving more refinance applications than ever thanks to this stimulus package and homeowners are taking advantage all across the country. Refinance your home mortgage now using the Obama “Home Affordability Plan” and start seeing big savings every month.

-M Petrone
www.RefinancingCondo.com

President Barack Obama and his administration recently unveiled their “Home Affordability Plan” which is a mortgage stimulus program that will allow homeowners a chance to refinance their current mortgage into a new one with a 4.5% fixed interest rate. Obama estimates that 9 million homeowners can take advantage of this plan and see big savings.

This government backed plan will give cash incentives to mortgage lenders and banks who approve home refinancing for “At Risk” homeowners. This includes homeowners who have lost their job, have seen their income reduced, are facing large medical bills or facing other debts and are or could be at risk of losing their home. What this means for homeowners is that refinancing a mortgage now is easier and the savings are bigger than ever before. With the cash incentives from the government, mortgage lenders and banks are easing the restrictions and requirements usually required for refinancing a mortgage. An example is the amount of equity in your home needed to refinance. Typically, a refinance requires that the homeowner has at least 20% equity in the home. Now though, lenders and banks are waiving those requirements in order to allow more refinance approvals and get that government stimulus money.

There are however some requirements nesscary to refinance using this “Home Affordability Plan” from Obama, here is some of them:

-The home in question must be lived in as a primary residence and can not be an investment property.

-Homeowners whose home values have dropped by 15% or more will be able to refinance into a new home loan at a 4.5% fixed rate. This will help people who bought a home when the housing market was hot but has recently nosedived, leaving home values dropping all over the country.

-Homeowners who have a home mortgage that is backed by mortgage lenders Fannie Mae or Freddie Mac will automatically qualify for a home modification is there are facing any type of financial hardship as mentioned earlier.

-Homeowners who are most at risk and facing immediate foreclosure can streamline the refinancing process using this Obama mortgage plan and have a greater chance of saving their home.

Millions of homeowners will qualify for this mortgage stimulus refinance plan and can almost instantly see a huge savings in their monthly mortgage payment. This plan will also help the overall housing industry as less foreclosures occur and home prices stabilize and rise to their pre mortgage crisis levels. Refinancing the right way will save you thousands of dollars over the course of the loan, it can also be a great choice to save your house. Refinance now and take advantage of this Obama “Home Affordability Plan” while there is still time.

-M Petrone
www.RefinancingCondo.com

Homeowners who are feeling the effects of this mortgage crisis can count on some relief from President Obamas mortgage stimulus plan. This “Home Affordability Plan” will enable an estimated 9 million homeowners refinance their mortgage into a new one with a 4.5% fixed rate. Here is how homeowners can take advantage:

This mortgage stimulus plan will have a big impact on your monthly mortgage payments. Refinancing using this plan can easily save a homeowner hundreds of dollars per month. The Federal Government has set aside over $75 billion dollars to help homeowners recover and not have o face foreclosure or defaulting on their mortgage.

How this housing stimulus plan from Obama will save you lots of money.

-Mortgage lenders and banks will be given cash incentives which will allow more homeowners the chance to be approved for a refinance. These cash incentives will allow mortgage lenders and banks to more easily take on “At Risk” homeowners and approve their refinancing application.

-The typical 20% equity needed in your home in order to refinance is generally not needed when refinancing using this mortgage stimulus.

-Homeowners who have seen their property or home values fall by more than 15% will qualify for a home mortgage refinance into a new home loan with a 4.5% fixed rate.

-Homeowners who have a mortgage owned or insured by lenders Fannie Mae or Freddie Mac are automatically eligible for a loan modification in which a mortgage can not exceed 31% of the homeowners gross monthly income.

-Homeowners who are facing foreclosure or mortgage defaulting due to a “Financial Hardship” such as medical bills, loss of job or income or other debts will be able to refinance their home mortgage into a 4.5% fixed rate.

-A homeowner will now find it even easier to refinance out of an ARM (Adjusted rate mortgage) and into a more stable fixed rate mortgage at 4.5%.

Refinancing a home mortgage
will be a great benefit to millions of homeowners who take advantage of this mortgage stimulus plan. The savings that can be had could easily add up to hundreds of dollars every single month. Around 9 million homeowners can take advantage of this great time to refinance and start seeing savings almost immediately. This will help curb the increasing foreclosures and mortgage defaults. Overall this stimulus plan will restore confidence to the struggling housing market and help homeowners recover. Refinance your home mortgage now using this government assistance while there is still time to take advantage.

-M Petrone
www.RefinancingCondo.com

Homeowners all across the country are now eligible to refinance their home mortgage thanks to President Barack Obamas Home Mortgage Refinance and Modification Plan. This plan, makes an estimated 9 million homeowners eligible for a mortgage into a fixed rate 4.5% home loan. The savings for homeowners can easily be hundreds per month. Here's how:

-The Federal Reserve and President Obama would both like mortgage rates to be set at a flat 4.5% fixed rate for a 30 year mortgage for all homeowners, current and potential.

-Mortgage lenders and banks will be given cash incentives to loosen the refinancing requirements and allow more homeowners who are at risk of losing their home, a chance to refinance.

-Homeowners who currently have their home mortgage insured or owned by mortgage lending giants Fannie Mae or Freddie Mac will automatically qualify for a home mortgage modification.

-Homeowners who have remained current on their payments and are facing some type of financial hardship such as; loss of income, loss of job, medical bills, or other debts will qualify for a mortgage refinance into a 4.5% fixed rate.

-If a homeowners property values have dropped by 15% or more, they will be able to refinance their home mortgage much easier than ever before. This helps a lot of homeowners who have seen their property values drastically drop as a direct result of this mortgage crisis.

This mortgage stimulus plan will be a great financial benefit to millions of homeowners. Taking advantage of this plan, combined with the near record low mortgage interest rates available all over, and homeowners could potentially save hundreds of dollars per month and own their home in the same amount of time. The restrictions and typical requirements such as 20% equity in your home in order to refinance have been temporarily been lifted in order to save homeowners from foreclosing on their home or defaulting on their mortgage. Refinance now and save yourself, and possibly your home.

-M Petrone
www.RefinancingCondo.com

Help for homeowners is now available thanks to President Obamas “Home Affordability Plan” which is a government backed mortgage stimulus which will allow millions of current homeowners the opportunity to refinance their existing home mortgage into a new one with a 4.5% fixed rate.

There is no doubt, this mortgage stimulus plan will allow an estimated 9 million homeowners a chance to save money every month. Combine this plan with the record low mortgage interest rates and the savings can quickly add up. Here are some eligibility requirements for Obamas mortgage stimulus plan:

-Homeowners whose property or house value dropped by 15% or more. This means millions of homeowners who have seen this as a result of the mortgage crisis, will be eligible to refinance at a 4.5% rate.

-Homeowners who have remained current on their mortgage payments, and have a mortgage backed by Fannie Mae or Freddie Mac are automatically eligible for a home mortgage modification.

-The home to be refinanced must be lived in as a primary residence by the homeowner. This refinance stimulus plan does not cover second homes or investment properties.

-Homeowners who currently have an ARM (Adjusted Rate Mortgage) will have an easier time refinancing into a more stable fixed rate mortgage.

Overall, this mortgage stimulus plan from President Obama will help millions of homeowners by allowing them to refinance and save a lot of money every month. Add to that the fact that current mortgage rates are at near all time record lows all across the country, and the odds are that refinancing your home mortgage will save you a lot of money. Refinance the right way and save money now.

-M Petrone
www.RefinancingCondo.com

A home mortgage refinance is basically just replacing your current home mortgage with a new home mortgage. There are 2 general types of refinancing. The first type is simply a home loan for the exact same amount as you owe on your current mortgage. For example, if you owe $100,000 on your current mortgage, using this refinance type you would refinance for the same $100,000, ideally with better interest rates, terms or conditions. The second choice is referred to as a cash out refinance. For example, say you owe $100,000 in 20 years on your current mortgage. You could use the second refinance choice and get a new home loan for $150,000 over 25 years and pocket the difference, $50,000.

Refinancing a home mortgage can help homeowners in a number of situations:

-If your credit score has improved since purchasing your home you most likely will save a lot through refinancing. Add to that the fact that home interest rates are near all time lows across the country right now and the savings can be huge.

-If you are looking to reduce your monthly mortgage payments even more, extending the length of your home loan is another option. You will be paying more interest in the long term but the monthly payments will be much smaller.

-You can use a cash out refinance to pay off other debts or bills you have. This can help pay off other high interest payments and save even more money.

-If you have 2 loans which you pay on, refinancing will allow you to consolidate those loans into 1.

-Homeowners who have an ARM (Adjusted Rate Mortgage) and are looking to get into a more stable fixed rate loan can refinance into one.

-If you refinance your home and have enough equity in it, you can often avoid having to get PMI (Private mortgage insurance) or drop down in interest rates.

Refinancing a home loan can be a great financial decision that could save you thousands of dollars. The interest rates around the country are near all time lows and their has never been a better time to refinance. However, refinancing a mortgage the wrong way will cost you a lot of money, and possibly your home. Make sure you practice patience and do some basic research with potential mortgage lenders or banks before making any decisions.

-M Petrone
www.RefinancingCondo.com

President Barack Obama has enacted a mortgage stimulus plan which will allow millions of homeowners the opportunity to refinance their home mortgage into a 4.5% fixed rate. This “Home Affordability Program” will give homeowners the chance to save hundreds of dollars per month. Here is how:

Currently, there are numerous grants available to homeowners, regardless of their credit rating. This government program is targeted towards people who need short term help. These grants can be used for loan repayments.
There are loan modification programs available to homeowners who are facing “Financial Hardship” this can be, medical bills, loss of income or job, other debts. These loan modification programs will allow homeowner to have a monthly mortgage payment that is no more than 31% of their gross monthly income.
Also, the total amount of all other debts, including mortgage payments, must not exceed 51% of the homeowners gross monthly income.
The Federal Reserve and President Obama would like to see mortgage interest rates locked into a low 4.5% for all current and potential homeowners.
Homeowners can save on the cost of a mortgage counselor by getting free help from HUD appointed mortgage counselors, who act as representatives for you when talking to banks or lenders, for free.
Homeowners who have seen the value of their property fall by 15% or more during this mortgage crisis will be able to refinance into a 4.5% fixed rate home loan. This will help homeowners who have seen their property values drop as the housing market crashed.

President Obama knows that the economy is facing hard times and is trying to help homeowners. The government has set aside over $75 billion dollars to help homeowners refinance their mortgage. Home foreclosures are on the rise and home prices are falling. This mortgage stimulus plan will help to stabilize the housing market and with that, home prices will start to rise. Refinancing a home mortgage the right way will save you a lot of money, especially with this “Home Affordability Plan” from Obama. Take advantage of this great chance and speak with a mortgage lender or bank.

-M Petrone
www.RefinancingCondo.com

Last week, President Obama urged homeowners to refinance their home and take advantage of the near all time record low interest rates. The “Home Affordability Plan” enables an estimated 9 million homeowners eligible for a home refinance. This will save hundreds of dollars per month in interest payments for the average homeowner.

This mortgage stimulus plan will address some of the biggest factors that have caused this mortgage crisis in the first place. This will be done through cash incentives given by the Government to mortgage lenders and banks who approve refinancing for homeowners facing financial hardships. That means being approved for a mortgage refinance will now be easier than ever as lenders and banks approve more and more people. Here are some of the highlights from this mortgage stimulus program from President Obama:

-Homeowners whose property values have dropped by 15% or more will be able to refinance their home mortgage. This will help homeowners in some of the hardest hit housing markets, where foreclosures and lack of home sales have dramatically plummeted home values.

-The Federal Reserve and President Obama would both like mortgage interest rates to be set at a standard 4.5% fixed rate for all homeowners and potential home buyers.

-Refinancing out of an ARM (Adjusted Rate Mortgage) and into a fixed rate mortgage will be easier and more beneficial than ever for homeowners.

-Homeowners who are facing foreclosure or defaulting on their mortgage will be approved on a fast track route to a home refinance. This enables the homeowner to keep their home and not lose it to foreclosure.

Overall homeowners who refinance using this government mortgage stimulus program will save a significant amount of money on their mortgage every month. This plan will also help the housing market overall as confidence is restored and home values stabilize. Refinancing a home mortgage, especially now with this government help, the right way will be a huge financial benefit. Look into it today.

-M Petrone
www.RefinancingCondo.com

President Obama recently made millions of homeowners eligible for home refinancing at a 4.5% fixed rate. This will save homeowners hundreds of dollars per month and ease the requirements needed to refinance or modify a home loan. The details of this mortgage stimulus plan are included below.

Some of the ways homeowners will benefit from this stimulus plan are included below:
-Help homeowners who have seen their property value drop by 15% or more. This will help a lot of homeowners who have seen their property values plummet with the mortgage crisis.

-Help ease the requirements and make refinancing or modifying a home loan easier for homeowners.

-President Obama and the Federal Reserve would like to see mortgage interest rates at a fixed 4.5% for everyone.

-Provide help to homeowners who are struggling to make their monthly mortgage payment and offer them a chance to refinance their mortgage into a fixed rate 4.5% home loan. This will save a lot of money for them every month and help them avoid foreclosure.

The tough economy is leaving many homeowners stressed out about having to pay their increasing mortgage every month. A lot of people have lost their jobs or have been on reduced income and are financially hurting. This refinance stimulus plan will help an estimated 9 million homeowners save money every month and stay in their home while avoiding foreclosure and defaulting on their mortgage.

Luckily for homeowners, President Barack Obama is fully aware of the problems facing homeowners during these tough economic times the U.S. is going through. In response to this, Obama has enacted his mortgage stimulus plan which will allow millions of homeowners the chance to refinance or modify their current mortgage into a fixed 4.5% rate. This is in response to the falling home prices, the rising foreclosures, and homeowners who have a reduced income or have lost their jobs. Many homeowners who bought their home a few years ago have seen the value of their homes plummet as the mortgage crisis took over. This left many homeowner with mortgages that were worth more than their homes. This home stimulus plan will allow homeowners a chance to refinance with the governments help. The government will give cash incentives to mortgage lenders or banks who approve refinancing to homeowners who are in some kind of financial hardship. This means that the eligibility requirements typically needed to refinance, such as 20% equity, are usually waived as mortgage lenders and banks approve more at risk homeowners with less risk to them. The Obama administration estimates that nearly 9 million homeowners will be able to take advantage of this government program. Both the Federal Reserve and Obama would like to see home interest rates stay at a fixed 4.5% rate for everyone, current and potential homeowners. The savings that can be had can easily be hundreds of dollars per month. Even if you have not qualified or been approved for a mortgage refinance before, odds are now you can. Take advantage of this amazing opportunity to refinance your home mortgage while interest rates are near all time lows.

-M Petrone
www.RefinancingCondo.com

Receiving a home mortgage refinance or loan modification from Countrywide is not as difficult as it would seem to be. I have included some tips here that will help you in dealing with Countrywide and get the mortgage refinance or modification you need.

Here are some basic tips when applying with Countrywide for refinancing or modification:

1)Display proof of financial hardship – If you have any proof of some kind of financial hardship bring it. Countrywide places a pretty high degree of importance on documents and verification. If you have lost your job, bring your pink slip with you. If you have high medical bills or other financial hardships bring in the proof of those as well.
2)Bring in all other bills and debts which you have – You must make is very clear to Countrywide that with the amount of income you have, and the bills and debts you owe, it is very hard to make a monthly mortgage payment. Bills and other documents of debt will enable the loan officer at Countrywide to get a true understanding of your financial hardships.
3)Know the interest rates you pay, and the average interest rate available now – Figure out how much you pay currently per month in interest rates. This is key because the best way to save money when refinancing is on the mortgage rates. Countrywide is often very competitive if not the lowest interest rate available. See how much of an interest rate difference you can get between your current rate and the rate a refinance from Countrywide can get you.

Refinancing a home with Countrywide can be a great thing to do. With interest rates at near all time lows, refinancing a home mortgage can mean savings of hundreds of dollars per month. Make sure you take your time though and use some patience to make sure you get the best refinancing deal possible.

-M Petrone
www.RefinancingCondo.com

President Barack Obama has made millions of homeowners eligible to refinance their home mortgage into a 4.5% fixed rate. This will save homeowners hundreds of dollars per month and ease the requirements needed to refinance or modify a home loan. The details of this mortgage stimulus plan are included below.

Some of the ways homeowners will benefit from this stimulus plan are included below:
-Help homeowners who have seen their property value drop by 15% or more. This will help a lot of homeowners who have seen their property values plummet with the mortgage crisis.

-Help ease the requirements and make refinancing or modifying a home loan easier for homeowners.

-President Obama and the Federal Reserve would like to see mortgage interest rates at a fixed 4.5% for everyone.

-Provide help to homeowners who are struggling to make their monthly mortgage payment and offer them a chance to refinance their mortgage into a fixed rate 4.5% home loan. This will save a lot of money for them every month and help them avoid foreclosure.

The tough economy is leaving many homeowners stressed out about having to pay their increasing mortgage every month. A lot of people have lost their jobs or have been on reduced income and are financially hurting. This refinance stimulus plan will help an estimated 9 million homeowners save money every month and stay in their home while avoiding foreclosure and defaulting on their mortgage.

-M Petrone
www.RefinancingCondo.com

Finally some relief for homeowners as President Barack Obamas mortgage stimulus plan, also called the “Home Affordability Plan”, will allow millions of homeowners the chance to refinance their mortgage into a stable 4.5% fixed rate home loan. Millions of homeowners will save hundreds of dollars using this stimulus package.

I have included some of the main components of this housing stimulus plan below:

-Help homeowners who have seen the value of their property fall due to this recent housing crisis. This plan will allow homeowners who have seen the value of their property fall by at least 15% or more a chance to refinance and obtain lower monthly payments.

-Make the qualifications for refinancing or modifying a home loan easier. This will allow more current homeowners the chance to refinance and avoid foreclosure or defaulting on their loan.

-The Federal Reserve and President Obama both believe, and want, home interest rates to stay at a low 4.5% fixed rate for all homeowners and new home buyers.

-Use this 4.5% fixed rate mortgage with the easier home refinancing qualifications to help homeowners get into a new home loan which will save them a lot of money every month and avoid foreclosure.

An estimated 9 million homeowners will be able to qualify for some type of government assistance with their mortgage using these new government home stimulus plans. Homeowners who are facing financial difficulties, as many are these days, should take advantage of this great chance to refinance their mortgage and save a lot of money every month. This mortgage crisis has wreaked havoc on all aspects of the housing market, this stimulus bill will return some confidence to the market and things should start to stabilize. Refinance the right way now and save a lot of money every single month.

-M Petrone
www.RefinancingCondo.com

Millions of homeowners are now able to refinance their home mortgage using the Federal Governments Economic Stimulus Act of 2009. This economic stimulus plan helps homeowners qualify for mortgage refinancing by increasing the loan limits in areas of the country which have home values that are higher than average.

This means millions of homeowners are able to refinance their mortgage into a lower monthly payment, shorten the length of the home loan, extend the length of the loan, or get a cash out refinance to pay off large debts or emergency bills, while at the same time being able to take advantage of the benefits that were previously only available on smaller loans such as:

-More affordable interest rates
-Easier homeowner income terms and qualifications
-No prepayment or early pay fees on the mortgage
-Very flexible and credit requirements

However, you must act fast to take advantage of this chance to refinance your home mortgage with government assistance. The benefits mentioned above are only temporary and mainly cover mortgages that were approved on or before December 31, 2008. Refinancing now also takes advantage of the near record lows across the country available to homeowners. Refinancing the right way will save a homeowner hundreds of dollars per month.

-M Petrone
www.RefinancingCondo.com

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