Wells Fargo refinancing and home loan modification is now easier, and more beneficial, than ever before. President Obamas housing stimulus plan now allows homeowners a chance to refinance or modify their home loans into affordable monthly payments, and Wells Fargo is participating. Millions of homeowners can use this plan, and here is how:

This plan has over $75 billion allocated to it, and most of that will be given to mortgage lenders and banks as cash incentives to help struggling homeowners. This cash incentive will allow mortgage lenders and banks to approve more applications for refinancing or home loan modification because they have less risk of losing money. This also allows homeowners who have been denied before, or just think they would never qualify, for a mortgage modification or refinance. Wells Fargo is following the guidelines form Obamas plan and is now offering refinance and modification options to homeowners who would not have been approved prior to President Obamas plan. Another great part of this plan for homeowners is that now a home can be refinanced or have its loan modified even if the home has lost value. The tough economy and housing market have reduced home prices by a lot. Now, a homeowner who has seen their property values drop by 15% or more can refinance through Obamas stimulus plan, and Wells Fargo. Also, a homeowner may actually owe more on their loan than the homes actual market value, which previously would automatically disallow them from refinancing or getting a home loan modification. Now though with Obamas “Making Home Affordable Plan” homeowners who owe up to 5% more than their homes worth can refinance or get a loan modification into a lower, more affordable, monthly payment.

Millions of homeowners can easily use this plan to their advantage and save a lot of money every month. With lenders as big and reputable as Wells Fargo, a homeowner knows they are getting the best refinance or mortgage modification possible. This plan should restore home values, stop foreclosures, and help the whole economy. You owe it to yourself to use this plan and secure your financial future.

-M Petrone

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