If you are a homeowner who is feeling helps and confused about how to go about getting an affordable monthly mortgage payment so you can keep your home, there is relief in sight. With Obamas “Making Home Affordable” plan, a homeowner can, even by themselves, easily get a 2% fixed rate home mortgage, which will save them a lot of money every month, and more importantly their home. Here is some simple things you can do to ensure you will get approved for a home mortgage refinancing or modification using this $75 billion Government housing bailout plan.

The main thing you can do to ensure the full potential of this plan is unleashed on you is make sure that you fully understand the approval requirements, guidelines, and prepare your application prior to contacting a potential mortgage lender or bank. Other than that, here are simple steps to help you along the way:

1)Understand, learn, and be prepared for the eligibility requirements, and the approval criteria prior to completing your home loan modification or refinance application. It will be prove hard to qualify for something you do not understand so learn basics and find the proper refinancing or loan modification option for you that falls into the Governments guidelines.

2)Be sure to make a checklist of all the things you will be required to have for your mortgage lender when refinancing or modifying a home loan. There will always be forms and applications which need to be filled out which your lender or bank will review. Millions of homeowners are trying to use Obamas plan to their advantage, and by having your information prepared and ready to go, odds are you will be moved to the top of the pile.

3)Once you have submitted your file, make sure it has been received and placed into the appropriate hands, and after that continue to call 1 time every week to make sure your application is moving along. Even if your bank or mortgage lender insists that they will call you when the time is right, you should call. Persistence and a little pushiness is a great way to move along the process of refinancing or loan modification.

A lot of homeowners will be able to use this plan and save themselves hundreds of dollars every month, and more importantly their home. Now is a great time to refinance your home loan and take advantage of Obamas plan.

-M Petrone

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