There are millions of homeowners who can take advantage, right now, of President Obamas mortgage stimulus plan. This plan will allow a homeowner to get a mortgage refinancing or home loan modification into a fixed 4.5% interest rate. A typical homeowner will save hundreds of dollars per month using this plan, here is how to get approved:

-Homeowners facing financial hardships, and can prove them, can get refinanced or a loan modified into a low 4.5% fixed rate through using President Obamas plan. A homeowner should include a letter of financial hardship stating their problems, along with proof such as bills, lay off papers, or other relevant documents. This will greatly increase a homeowners odds of being approved for refinancing or loan modification, especially with President Obamas “Making Home Affordable” plan:

-Homeowners who have the bad experience of seeing their homes drop in value due to a bad economy and housing market now have a chance to get a better more affordable monthly home loan payment through refinancing or modification of their home loan. Homes which have dropped by 15% or more in value can now get approved for refinancing or loan modification through Obamas plan. This was previously nearly impossible for a homeowner to do, but is now made much easier.

-Homeowners who have a home loan which is financed, backed, or insured by Freddie Mac or Fannie Mae are now automatically all eligible for a home loan modification into an affordable mortgage payment which will not exceed 31% of a homeowners gross monthly income. The savings from this alone can easily save a homeowner hundreds of dollars every single month.

Mortgage Refinancing and modification, right now using Obamas plan, has never been easier or more beneficial for a homeowner. Typical homeowners will easily save a few hundred dollars every month through taking advantage of President Obamas “Making Home Affordable” plan. If you are a homeowner you should take action and see how much you can save.

-M Petrone
www.RefinancingCondo.com

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