Recently President Obama enacted his home mortgage refinance and modification stimulus plan which lets homeowners refinance into a new 4.5% fixed rate home mortgage. Millions of homeowners will save, on average, hundreds per month by taking advantage of this plan, here is how:

-Help existing homeowners who have seen their property value drop by 15% or more due to the mortgage crisis. Many homeowners have seen, in the past few years especially, their property values drop as the housing market crashed, this will help them by offering them a chance to refinance into a fixed 4.5% interest rate.

-Make home refinancing and modification easier and less costly for homeowners.

-The Government will keep home interest rates locked into a fixed 4.5%

-Homeowners who are facing foreclosure or defaulting on their mortgage can now be put on a fast track refinance plan which will let them refinance into the 4.5% rate and save their homes.

-Homeowners with mortgages backed by Freddie Mac or Fannie Mae are automatically eligible to refinance into a new, fixed rate 4.5% home loan.

President Obama wants homeowners to stay in their home and not have to be foreclosed on or forced to sell. This stimulus plan will help with just that. By taking advantage of this home mortgage refinance plan, millions homeowners will be able to save hundreds of dollars every month and, more importantly, save their home. Refinancing is easy, and now more profitable than ever,

-M Petrone
www.RefinancingCondo.com

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