President Barack Obama has enacted his “Making Home Affordable” housing refinance and foreclosure prevention plan. This plan makes millions of homeowners eligible for the opportunity to modify or refinance their existing home mortgage into a new one with a fixed 2% interest rate. Here are some important details:

This “Making Home Affordable Plan” is broken down into 2 main parts which help homeowners in different financial situations.

The first group of homeowners who will benefit from this stimulus refinancing plan are those who have seen their property value drop as a result of the mortgage crisis. This will help an estimated 5 million homeowners refinance, and possibly save their home from foreclosure.
The second group of homeowners to benefit are those who are in an ARM (Adjustable Rate Mortgage) and have seen it go up beyond their financial limits. Now, this government plan allows these homeowners a chance to modify their mortgage into a fixed 2% interest rate, and save their home from foreclosure.

President Obamas stimulus refinancing and foreclosure prevention plan will help millions of homeowners a chance to save their home and get a super low interest rate. Over $75 billion dollars in money has been allocated for this plan so take advantage now.

-M Petrone

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