President Barack Obama has enacted his home mortgage refinance or modification plan which allows millions of homeowners the chance to refinance or modify their home loan into a fixed 2% rate. The Government has set aside over $75 billion in funds to help homeowners. Here is some of the plans biggest highlights:

*Help existing homeowners who have seen their home values drop by 15% or more by allowing them a chance to refinance into a fixed rate 2% home mortgage.

*Make refinancing or modifying a home loan easier with more streamlined processes.

*Keep interest rates controlled and at a fixed rate of 2% for all homeowners.

*Help homeowners who are facing foreclosure or defaulting on their mortgage by allowing them to save their home and refinance.

The rough times in the economy have been making it harder and harder for millions of homeowners to pay their mortgage every month. This home refinancing plan will enable a lot of homeowners to save their home and hundreds of dollars per month. Homeowners should take advantage of this home mortgage modification or refinance package from Obama and see the savings start immediately.

-M Petrone

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