Bank of America is taking part in President Obamas $75 billion “Making Home Affordable” plan. This plan allows homeowners a chance to save hundreds of dollars per month on their home loan payments through refinancing or home loan modification. Refinancing or loan modification through Bank of America has never been easier or more beneficial than it is right now. Here is how you can use this plan to your advantage:

While Bank of America has always worked with homeowners facing financial hardships, or losing their home, they are now able to do even more. A lot of the money from Obamas $75 billion mortgage bailout plan will be given to mortgage lenders and banks as cash incentives for approving at risk homeowners. This means that getting approved for refinancing or mortgage modification with Bank of America has never been easier, even if you have been turned down before. With the cash incentives lenders and banks can reduce the interest rates even further until an affordable monthly mortgage payment is found.

Homeowners who have lost their jobs, get a reduced in come, are in bad mortgages, have seen their property values drop, with bad credit card debts, and a whole lot of other reasons, can use Obamas stimulus plan. Bank of America has the personnel and facilities, to go along with their commitment to homeowners and excellent reputation, which all help homeowners save money.

Mortgage refinancing with Bank of America is generally going to save a homeowner hundreds of dollars per month on interest savings alone. It is always best to do some research on your own prior to applying. This includes setting a budget, figuring out which type of loan you want, for how long, and how much, along with other things. Mortgage refinancing and modification have never been better options for homeowners than they are right now. Take some time and save some money.

-M Petrone

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