Homeowners can now find relief thanks to Obamas mortgage stimulus refinance plan. This mortgage bailout plan will allow homeowners to refinance into a new home loan with a fixed 4.5% interest rate. Millions of homeowners are eligible to take advantage of this "Making Home Affordable" plan and save hundreds monthly.

Here, I have listed some of the main points that will help homeowners who refinance using Obamas stimulus plan:

-The Federal Government would keep and set interest rates for all homeowners who refinance at a fixed rate 4.5%.

-Refinancing or modifying a home mortgage would be easier and more streamlined for all homeowners.

-Help homeowners who have seen their property value drop by 15% or more as a result of this mortgage crisis.

-Help homeowners who are facing foreclosure or defaulting on their mortgage by allowing them to refinance their home mortgage into a fixed rate 4.5% home mortgage.

Times are tough for millions of homeowners and the Obama administration is aware of that. As a result they have unveiled their home mortgage refinance stimulus plan which will save millions of homeowners hundreds of dollars every month, and maybe even their home from being foreclosed on. This mortgage package should bring some stability and consumer confidence back into the housing market which would help all homeowners. Consider refinancing your home loan today and see what the potential savings can be.

-M Petrone

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