Now, millions of homeowners all over he country are eligible, thanks to President Barack Obama, to refinance their home mortgage into a fixed, 2% home loan. This is possible due to the recent “Home Affordability Plan” from President Obama. Homeowners are reporting savings of hundreds of dollars every month. Taking advantage is easy, here is how:

-If you have missed a mortgage payment or two it will still be possible to take advantage of this home affordability stimulus refinance plan. This helps millions of homeowners who would otherwise end up in foreclosure, to refinance or modify their home loan into a fixed rate 2% mortgage.

-A lot of homes have dropped in value as a result of the mortgage crisis in America leaving a lot of homeowners with a mortgage worth more than their home is. Now, homeowners can still apply and be approved for a 2% home mortgage refinance even if they owe up to 105% of the value of their home.

-If your home mortgage is financed or insured by either Fannie Mae or Freddie Mac then you are in luck as you automatically qualify for this refinance or modification plan from Obama. Homeowners who use this part of the plan will be able to modify their home loan into a payment that does not exceed 31% of their monthly gross income.

-Financial hardships such as loss of job, loss of income, tuition, medical bills, or a whole list of other hardships, even credit card debt will make a homeowner eligible to refinance their home mortgage into a 2% fixed rate home loan.

Mortgage lenders and banks are getting cash incentives from the Government to approve homeowners who are “high risk”. This means that getting approved for a home mortgage refinance or modification is easier than ever. The typical requirements for refinancing are no longer needed in many cases as mortgage lenders and banks can cash in on your refinance and cover their potential losses with the governments incentive money. Look into a mortgage refinance today and see the potential savings in it for you.

-M Petrone
www.RefinancingCondo.com

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