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.

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