If you are a homeowner and having a hard time refinancing or getting a loan modification, you are in luck. President Obamas “Making Home Affordable” plan makes getting a 2% fixed rate home mortgage easier than ever. This is a $75 billion package to help homeowners who are struggling financially make their monthly mortgage payments. Homeowners will be able to avoid foreclosure, and save huge sums of money by taking advantage of this plan. Here is how it will all go down:

-Their are new loan and grant programs offered by the Government and available to millions of homeowners, These super low interest grants and loans can be used by struggling homeowners to reduce their other debts, and increase the odds of a homeowner being able to keep their home.

-If a homeowners total monthly debts, including the mortgage, exceed 51% of a homeowners gross income will have to attend free Government credit counseling sessions in order to use this Government sponsored “Making Home Affordable” plan for their home mortgage. The same 2% fixed rate home loan will be available as long as the homeowner is approved.

-Homeowners facing all types of “Financial Hardships” can apply for the 2% fixed rate home modification option available from this Obama homeowner relief stimulus plan. The financial hardships can be a lot of things including, loss of job or income, hospital bills, and other high debts. BE sure to include a handwritten letter of your “Financial Hardships” and include any related information such as bills, bank statements, pay stubs, and tax returns.

-A lot of homeowners have seen the value of their property drop by 15% or more as a result of the housing crisis, and the tough economy in general. Now, homeowners who have experienced this can take advantage of the “Making Home Affordable” plan and get their home loan refinanced or modified into a fixed 2% mortgage.

The amount of money that homeowners can save by using this stimulus refinancing and loan modification plan is insane. You owe it to yourself to at least look into the potential savings that you most likely are eligible to get by using this plan

-M Petrone
www.RefinancingCondo.com

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