Homeowners looking to save money, or their home from foreclosure, and have a mortgage from Fannie Mae or Freddie Mac, should thank President Obama. Now, customers of Wells Fargo can get their home loan modified into a fixed rate 2% mortgage. All Wells Fargo customers can use this plan to their advantage. Here is how it works:

The “Making Home Affordable Plan” is Obamas housing bailout plan which will give cash incentives to mortgage lenders and banks who assist financially struggling homeowners by allowing them the options of getting a 2% fixed home loan. This will save a lot of homeowners who are in a bad mortgage or facing other financial hardships, save a lot of money on their Wells Fargo home loan. Now, even if you have been declined before, getting a refinance or loan modification is easier, and more beneficial for the homeowner, than ever.

Wells Fargo is a large, extremely reputable and friendly company which is leading the pack in using this Obama plan to help homeowners. Everyone loses when a home is foreclosed on, and Wells Fargo is aware of that and will work with homeowners to save their home. They have the power, experience, and leverage to help almost any homeowner, in any financial situation, no matter the conditions. Using such a big lender will give you plenty of loan choices and financing options.

The odds of you being approved for this plan will also be increased by including a letter of financial hardship. This letter should be written by hand and contain the reasons, like job loss, loss of income, high credit debts, hospital bills, and all supporting documents like pay stubs, tax returns, bills, and all related papers. A lot of homeowners do not realize the amazing savings that can be had through simply calling your Wells Fargo lender and asking. All they need to do is ask about refinancing or mortgage modification, and the options will become more apparent to them. While this plan from Obama will not help every single homeowner, it will help an estimated 9 million homeowners save money, or maybe even save their home from foreclosure.

-M Petrone
www.RefinancingCondo.com

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