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

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