Homeowners all across the country should take advantage of President Obamas “Making Home Affordable” plan. Millions of homeowners can easily get a fixed rate 2% mortgage, and save hundreds of dollars every single month through refinancing or home loan modification.

Their has never been a better time for a typical homeowner to refinance or get a home loan modification. The Presidents plan provides money to mortgage lenders and banks to minimize their risks when they approve a homeowner for a home loan modification or refinancing. The plan calls for a mortgages monthly payment to be no higher than 31% of a homeowners gross monthly income. This would be a huge savings for millions of homeowners, and save a lot of people from defaulting on their mortgage or losing their home to foreclosure. Mortgage rates as low as 2% will be available for homeowners in order to meet the requirements of President Obamas stimulus plan.

Homeowners should get in touch with their mortgage lender and find out if they are participating in the Presidents bailout plan. The savings easily add up to thousands of dollars over the course of the home loan. Even if you have been denied before, think you have bad credit, or have a home loan for more than your homes actual value, their may be a program for you. Take action now.

-M Petrone

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