Homeowners across the country can take advantage of President Barack Obamas mortgage refinance stimulus plan. This plan will allow homeowners to refinance or modify their current mortgages into fixed rate 2% home loans. On average, homeowners are seeing hundreds of dollars ever month in savings. Here is how to get it on the deal:

-Homeowners who have missed a mortgage payment or two can now apply for a mortgage modification under the guidelines of this plan. This will help a lot of homeowners avoid foreclosure and get themselves into a new low 2% fixed rate loan, which will save them a lot of money.

-Homeowners who have a mortgage which is worth upto 105% of the homes market value will be allowed to refinance their loan into the same 2% fixed rate. This helps homeowners who have seen their property values drop as a result of this housing crisis.

-Mortgages financed or insured by Freddie Mac or Fannie Mae will be automatically eligible to receive a home loan modification. This will allow the homeowner to lower their payments and lock in a fixed rate 2% home mortgage.

-Homeowners who are facing some type of financial hardship such as a loss of job or income, high credit card debts, medical bills, or tuition payments are allowed to refinance their home loan.

-Mortgage lenders and banks are approving more home mortgage refinance applications and receiving cash incentives from the government when they approve at risk or homeowners facing foreclosure.

Refinancing a home mortgage
now will save a lot of homeowners a lot of money every single month. The savings really add up to thousands over the course of the home loan. Now is a great chance to get a new lower interest rate mortgage and see the savings roll in every month.

-M Petrone

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