Homeowners who need to save money to avoid foreclosure or defaulting on their home loan can now get a mortgage refinancing or modification into a fixed, 4.5% interest rate using President Obamas “Making Home Affordable” plan. Millions of homeowners are eligible and Ditech is ready to help. Here is what you need to know to use this plan to your advantage:

Millions of homeowners are now eligible to use Obamas housing bailout plan, even if they have been denied the chance to refinance or modify their mortgages before. The new guidelines that Obamas plan lays out give cash incentives to lenders such as Ditech, to approve home loan refinancing and modification applications, to homeowners who are at risk of losing their home, or facing other financial hardships. These hardships can include losing a job, hospital bills, reduced income, bad mortgage loans, high credit card debts, and a whole list of other things a lot of homeowners are facing. Homeowners just need to include a letter of financial hardship stating their problems, and why they need to get a more affordable monthly mortgage payment. This will greatly increase their chances of being approved for a refinancing or loan modification with lenders like Ditech.

Also, homeowners who have seen the value of their house drop due to foreclosures, and other bad housing market situations, can use this plan to get approval for a mortgage refinance or modification. This means that homeowners who never would be approved before, due to low equity in the home, or a bad mortgage loan, can now get approved with low interest rates. The money saved through this would easily equal hundreds of dollars per month for the average homeowner. This money can be used to pay down other debts, and help ease any financial strains.

Ditech mortgage refinancing is a great option, especially now, for a homeowner to easily save a lot of money every month. Homeowners facing any type of financial troubles should look into refinancing or getting a home loan modified with Obamas stimulus plan. It has never been easier to take action and save your home, or your finances.

-M Petrone
www.RefinancingCondo.com

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