President Obamas housing bailout plan will allow millions of homeowners the chance to save money, or save their home from foreclosure through a fixed rate 4% mortgage refinancing or modification. Using this plan for yourself is easy, and millions of homeowners are eligible. Here are some of the plans most important points:

-Homes which have dropped by 15% or more in value are still eligible for a refinancing or loan modification under the guidelines of Obamas stimulus plan. This will help a lot of homeowners who have purchased a home, only to see the value of it significantly drop due to the bad housing market and struggling economy.

-Homeowners who look into refinancing or mortgage modification will have an easier time than ever as now, the whole process is more streamlined, faster, and easier to get approved for. Obamas stimulus plan makes all of this possible with over $75 billion in cash incentives for mortgage lenders and banks to approve “at risk” homeowners.

-Homeowners at risk of losing their home to mortgage default, or foreclosure, now have a real chance to save their home, and get a lower monthly payment. Homeowners will be given an option to get themselves into a 4% fixed rate home loan, which will save them a lot of money every month.

-The Federal Reserve and President Obama would both like to see interest rates stay around 4% for all homeowners and will try to keep home rates around their.

With the economy and housing markets in such bad shape, this housing bailout plan from Obama could not come at a better time. Now, mortgage refinancing or modification is easier, and more beneficial to a homeowner than it ever has been before. You should take action now and prevent your financial future from being in any risk.

-M Petrone

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