Recently, President Obama enacted his mortgage bailout plan which allows millions of homeowners the chance to choose from specific, Government approved, mortgage lenders for a home loan modification or refinancing. Bank of America (BoA) is one of the approved lenders. Find out how you can get a home loan modification or refinancing with Bank of America and the Governments mortgage bailout plan:

Homeowners who have bad credit, a bad mortgage, high debts, lost their job, or are facing other tough financial situations can now, easier than ever, get approved for a mortgage refinancing or home loan modification. Prior to the Governments bailout plan, these homeowners would not stand a chance at getting approved. With an estimated 1 in 8 homeowners facing foreclosure or defaulting on their mortgage, this plan could not come at a better time.

Homeowners who are facing financial hardships, through no fault of their own, such as loss of job, reduced wages, hospital bills, increased monthly mortgage payments, and a list of other situations, can get approved easier than ever for a home loan modification. The plan also calls for the new monthly home loan payment to not exceed 31% of a homeowners gross monthly income. Many homeowners pay more than 31% of their income already, and this could be a huge, money saving, lower payment. Bank of America Mortgage modification will save homeowners a lot and help get their finances on the right track.

This plan will allow homeowners all across the country the chance to save their home, get a lower monthly payment, or access money they need to help them on other ways. Modification of a mortgage has never been more beneficial for a homeowner, and this plan from Obama makes it easy to get approved for. Do something about your high monthly mortgage payment now and look into a home loan modification from Bank of America.

-M Petrone

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