Right now, homeowners all across America can use President Obamas housing plan to refinance or modify their home mortgage into an affordable 4% fixed interest rate. There are over 9 million homeowners who can use some of the $75 billion in Government funding to make their monthly payments lower. Here is how you can use this plan for your benefit:

Mortgage lenders and banks will be given cash incentives from the Government so they can approve more applications from at risk homeowners, or those facing foreclosure. This means, the risks for approving refinancing and loan modification applications is minimized, and more approvals can be offered. Now, even if you have been denied before, it is easier and much more beneficial than ever before for a homeowner to get a loan modification, or refinancing.

Homeowners everywhere are dealing with the problems of this bad economy, and worse housing market. Bad mortgages, lowered home values, job loss, reduced income, or other high bills, are causing homeowners to go into foreclosure, or otherwise be forced out of their home, at all time highs. With this plan, a homeowner can reduce their monthly home loan payment, through a 4% mortgage refinancing or modification. The savings can easily equal hundreds of dollars per month, and help a homeowner avoid or stop foreclosure, or losing their home.

When homeowners start to use this plan for themselves, foreclosures should slow, and the market should regain some of its prior strength. Consumer confidence will return, and slowly the housing market, along with the economy, will recover. In the meantime though, 9 million homeowners should take action and do something about their high monthly mortgage payments. You have nothing to lose and being approved is easy. Call your mortgage lender or bank and see the potential savings you could be getting through refinancing or mortgage modification. This plan will help millions of homeowners save their homes, their financial futures, and the most expensive thing they will ever own in their lives, their home. Take action now, the longer you wait the harder recovery will be. You owe it to yourself to at least look into this housing bailout plan from President Obama and see if the savings are worth it for you, odds are they are.

-M Petrone

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