Homeowners who want to get a 2% fixed rate mortgage through a home loan refinancing or modification. The “Making Home Affordable” plan from Obama makes this a reality. This is a $75 billion plan which will allow millions of homeowners the chance to get an affordable mortgage payment, and drastically reduce their interest rates. Here is how:

-New home loan and grant options are available to homeowners. These low interest loans and grants will help a homeowner pay off their other debts, and reduce their overall monthly payments.

-If you are a homeowner in any kind of “Financial Hardship” which can include, losing your job, reduction of income, high debts, a bad mortgage, or a whole list of other things, can now apply for a 2% Government backed mortgage refinancing or modification. The “Making Home Affordable” plan is what makes this happen, and it is from President Obama. If you want to use the financial hardship route, make sure you include a handwritten letter stating your “Financial Hardships” this will increase the chances of your mortgage refinance or modification approval.

-If a homeowner has debts, including the mortgage payment, that are more than 51% of their gross monthly income, they will have to attend free credit counseling offered by the Government. This is a condition if you want to get a fixed rate 2% home mortgage loan using this “Making Home Affordable” plan.

-If a home or property value has dropped by 15% or more since purchasing your home, you can use this Obama mortgage stimulus refinancing plan to their advantage and get the 2% fixed rate mortgage. A lot of people have experienced this, especially with the bad economy, and worse housing market.

This plan will be able to save homeowners all over the country a lot of money every month, or maybe even their home. Taking advantage of this plan is easier than ever, and should be done sooner rather than later. This is a great chance for a typical homeowner to get themselves an ultra low fixed rate 2% home loan. Use this plan, and see the savings start to quickly add up, by refinancing or loan modification.

Now is a great time to strengthen your financial future, save money every month, save a home from foreclosure, or all of the above.

-M Petrone
www.RefinancingCondo.com

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