Refinancing can be an intimidating concept for many people. That is why I will try to explain it in the simplest terms throughout this article. Due to the current status of the housing market many homeowners are looking into the possibility of refinancing their current home loans. Refinancing has become a bit more popular even though the interest rates are not at their lowest. The whole process may seem a little confusing and a bit overwhelming at first but with some explanation it can be easily accomplished.

It is very common for first time home buyers jump on the first offer given to them. People jump on offers most times because they feel that they can not get anything better because of their credit. However, there are many financial institutions that offer financing options and it is a big mistake not to take a careful look at all of your possible options. When one does take the first thing that is offered they are happy for a short period then reality will sink in after paying that mortgage a few times. Now however many of these same people are in a better financial situation and are looking to change their current loans terms. Whatever your reasons for considering a mortgage refinancing or modification loan may be there are a few things that you should keep in mind so that you know that going through the process will be worth it in the end.

When you decide to refinance your current mortgage loan, what you are basically doing is taking out another loan to pay for the one you already have. If you are thinking of refinancing a loan that you have had for some time, the new loan will not have to a large one because you have already paid a good amount of it. Since you have paid a good portion of the original loan your new payments will be much lower. The monthly payments may also decrease if you get a lower interest rate.
The most important thing that you must keep in mind is the interest rate. In order to make your that refinancing is worth the time and effort the interest rate must be a minimum of 2% less than the current rate. This would be the most important thing unless you are refinancing because of soon to be out of control payment because of an adjustable rate.

Double checking your mortgage documents when refinancing is also recommended so you can make sure that you don’t have any prepayment fees. If these fees are in the documents make sure to take the fees into consideration and look at the total costs the loan will come along with. It’s common to see lenders advertise themselves as not charging closing cost; however those costs are just added to other places in the loan. All lenders charge closing one way or another. Make sure that refinancing is the right step for you. Do research on the lender you want to work with and get different quotes so you are sure that you got the best possible loan.

-M Petrone
www.RefinancingCondo.com

While mortgage interest rates are low, I predict that they will get lower. Every little interest rate percentage counts when refinancing a mortgage, and knowing when rates will be lowest ensures you will get the best deal possible. Here are my mortgage rate predictions for 2010 and the rest of 2009.

With mortgage rates being around 5.19% right now, many homeowners are refinancing or modifying their home loans to take advantage. However, if you can, wait. I think that around October of 2009, mortgage rates will drop by about .5% to 4.69% for a typical 30 year mortgage with a fixed rate loan. While this seems low, it can really add up, or be the difference between a refinancing actually saving you money, or just wasting your time.

Early in 2009, when the housing market was is its worse shape, mortgage interest rates were 4.69%. This is the same rate that I predict will be the average in October 2009. The rates were so low earlier because mortgage lender and banks wanted to help struggling homeowners and spur interest in the housing market. This plan worked a little too well, and homeowners quickly flooded mortgage lenders and banks with applications for mortgage refinancing. This was a shock to lenders as they did not expect such interest. Mortgage rates were increased by .5% to help stop homeowners form applying. This rate increase scared away homeowners who just wanted to save money, yet was low enough to help the majority of truly struggling homeowners. Many people took, and are taking advantage of these low mortgage interest rates, and saving money and their home from being lost.

Predicting mortgage rates
is tricky, but I do honestly believe the mortgage rates will drop by about .5% in October of 2009, and last through April of 2010. This will enable a lot of homeowners to save even more money when refinancing a mortgage. However, right now, interest rates are still low, and many homeowners can still benefit from taking advantage of the low interest rates for mortgages.

-M Petrone
www.RefinancingCondo.com

Right now, millions of homeowners are eligible to get a mortgage refinancing through President Obamas “Making Home Affordable” plan. This plan will allow homeowners the chance to get 2% interest rates, refinance a mortgage that is worth more than a home, save huge money on monthly payments, or get out of an ARM loan.

President Obama believes that helping the struggling homeowners is a way to help the housing market, and overall economy. That is great news for homeowners. The high number of foreclosures and mortgage defaults is a big concern for everyone, and this plan will help that. Through this plan, millions of individuals will be able to save their home. With over $75 billion in assistance being given out to homeowners, the money is there to help almost anyone.

Here are a few situations which a homeowner would really be able to benefit from President Obamas “Making Home Affordable” plan:

-Homeowners who are stuck in an ARM loan and wish to get a more stable fixed rate mortgage.

-Homeowners who pay too much interest, and are barely able to pay their mortgage every month.

-Homeowners who have lost a job, gotten reduced wages, or are facing other financial hardships.

-Homeowners who have seen their home drop in value.

These, plus many other situations make homeowners eligible to use this Government stimulus mortgage program for their own home.

With this plan, mortgage rates can be reduced to 2%, or a home loan can be extended in length, This is all to meet the stimulus plan requirements that say a homeowner should pay no more than 31% of their gross monthly income towards their mortgage.

Many homeowners should use this program to improve their mortgage, or save their home from being lost. Do not hesitate to contact your lender and see the potential this program has for you. Most likely, you will be able to save a lot of money.

-M Petrone
www.RefinancingCondo.com

Homeowners can get a mortgage modification which will lower their monthly payments and help them keep their homes. Luckily for homeowners, CitiMortgage can provide help to many homeowners by finding the right home loan modification program. Here are some tips which will help make the process easier and better for you.

-Never be afraid to ask questions, and be open and honest with the CitiMortgage loss mitigation department.
DO not hire a mortgage broker or lawyer to help you modify a home loan. CitiMortgage has an entire loss mitigation department dedicated to helping homeowners, and will happily assist them in finding the information they need, and find some modification options.

-Have all the proper documents.
Make sure that all the needed financial, bank, tax, and other information which is needed for a home loan modification is easily accessible. Homeowners will be scrutinized heavily due to the economic meltdown. Anything on your application which is not verifiable will raise red flags and can easily get you denied a home loan modification. Also, make sure every single item is filled in, and then double check it all. Make sure your mortgage modification application is error free. If there are errors in your application, it will not be reviewed and sent back to you with a note as to why. This will be a waste of time for you, and them.

-Have Patience
With times being tough right now for so many homeowners, many people are looking for mortgage modification or refinancing help and the applications are coming in at a faster pace than ever before. Always attempt to make weekly contact with your lender or bank, and do not be surprised if you do not hear back from them immediately. If your application was accepted from the CitiMortgage loss mitigation department, you can be sure that your home loan modification application will be reviewed, and an answer will be sent.

-M Petrone
www.RefinancingCondo.com

Homeowners with a mortgage from Fannie Mae or Freddie Mac can get a home loan modification thanks to Obamas stimulus plan. This “Making Home Affordable” stimulus plan is designed to help homeowners save money on their mortgage, avoid foreclosure, or get a better home loan. Here is how it works:

The mortgage stimulus plan from President Obama calls for all homeowners who have Freddie Mac or Fannie Mae as their lender to be approved for home loan modification. The new monthly payment which results from getting this help with your mortgage will not exceed 31% of your monthly income. Currently, many homeowners pay much more than 31% of their income towards their mortgage, and a savings of 10% or more would be huge savings. To achieve this new monthly home loan payment a few things can happen:

-Mortgage rates can be reduced to as low as 2%

-The length of the mortgage can be extended

-Switching a homeowner from an ARM (Adjusted rate mortgage) to a stable, fixed rate mortgage.

One of these, or a combination, will be used to help homeowners get a lower monthly mortgage payment. The hopes are that after this, homeowners can avoid foreclosure and get their finances in order. This plan gives hope to a lot of homeowners who would have lost their home. Millions of people have a mortgage with either Fannie Mae or Freddie Mac, and now, the struggling ones can get help. Taking advantage of this plan is easy. Contact your lender and ask about the Presidents “Making Home Affordable” plan.

-M Petrone
www.RefinancingCondo.com

Getting a lower monthly home loan payment is not that hard. Even for homeowners facing financial hardships, or who are stuck in bad mortgages. This is all because of President Obamas “Making Home Affordable” plan.

This stimulus plan is aimed at helping the millions of struggling homeowners who are at risk of losing their home to foreclosure or mortgage default. With this plan, mortgage lenders and banks can now offer 2% mortgage rates, change the terms and conditions of the home loan, and approve more homeowners than ever before. This is because of over $75 billion which is available to help homeowners. The bulk of this money will be given to mortgage lenders and banks who help at risk homeowners. With this money, financial risks are covered for lenders who approve financially hurting homeowners, and all closing costs and fees are covered. This means, right now, refinancing a home loan is cheaper, and easier to get than ever before.

Instead of waiting for homeowners to lose their home, this plan aims at preventing foreclosure from even taking place. Millions of homeowners need help, and this plan offers just that. Never before has getting a mortgage refinancing been this easy, or beneficial for a homeowner. Right now is the time to take action, get a lower monthly home loan payment, and save your home. Millions of people will use this plan, and save their home.

Mortgage refinancing has never been better for a homeowner. This plan will help many individuals, and entire neighborhoods. If you are a homeowner who needs a lower mortgage payment, take action now. This making home affordable plan is the ticket to many homeowners being able to keep their home.

-M Petrone
www.RefinancingCondo.com

When a homeowner refinances, they always want the best mortgage refinancing rates possible. Getting the absolute lowest rates will save a homeowner a lot of money. Here is some help for homeowners who want the best mortgage refinancing rates available:

-Know The Current Average Mortgage Rates
Newspapers, television programs, and the internet have daily reports on what the average interest rates are for a mortgage. Just knowing what the rates are does not guarantee you that rate. However, it can be good to question a potential lender as to why the rate they are quoting you is higher than the averages. This also shows the potential mortgage lender or bank that you have done your research and are aware of the situation, making the lenders rates more competitive as they will fear losing you as a client.

-Know your Personal Credit Rating
Little mistakes and errors can, and often do, cost homeowners a lot of money. To get the absolutely lowest interest rates, you must have near perfect credit. Check your report from all 3 of the big credit rating companies, and report any errors to them. A lot of times a homeowner does not even realize that there are negative marks on their report which are costing them money. Also, reviewing this report will allow you to see areas which you can quickly improve. Even small improvements in your credit can save you a great deal of money.

-Shop Around
Getting the best mortgage refinancing rates is not that hard. A mortgage refinancing should be like making a big ticket purchase. Prices, interest rates, and fees vary from lender to lender. Also, customer service is a big thing that separates good mortgage lenders and banks, from the not so good. To get the best mortgage refinancing rates make sure you compare a wide variety of mortgage lenders and banks. This way you can easily compare different interest rates, and loan options which are available to you. This is one of the best ways a homeowner can guarantee they are getting the best interest rate possible.

-M Petrone
www.RefinancingCondo.com

People everywhere are struggling to stay in their homes during this housing crisis. People left and right are in danger of having their homes foreclosed on and many feel there are no other options.

Due to the high number of possible foreclosures there is a new Federal Loan Modification plan that has been put into place by the President. What this new modification plan which is funded by a $75 billion stimulus plan will do is help current homeowners modify their mortgage into more affordable monthly payments.

Common questions: Who are the people that will benefit? What are the qualifications on must meet in order to apply? Below are some answers to both of these questions.

·The home loan that you would want to modify must be for a primary residence. Second homes will not qualify.

·The loan in question can not be more than $729,750.

·The cause for the financial hardship must be out of the homeowners control like: unexpected medical problems, decrease in income, loss of job etc.

·The current home loan that the homeowner has must have become official and signed on or no later than January 1, 2009.

·The Federal government must also approve the lender of the loan.

·The homeowners’ mortgage loan must exceed 31% of their total monthly income. This total must include all taxes on the home, any homeowner association dues and homeowners’ insurance.

·The homeowner must also provide enough proof showing that they can and will honor the new modified loan and will commit to do so.

All potential borrowers must meet the above requirements and also provide the appropriate paperwork that is needed for the home loan modification process. Homeowners are allowed to apply for this loan modification plan only one time so it must be done correctly. It is recommended for borrowers to know all of the prerequisites that are needed and to completely fill out the paperwork needed prior to contacting their lender. It is possible to make mistakes that can cause it to be denied or delayed if done incorrectly.

When the application process is complete and if you are approved you can expect a monthly payment that will be less than 31% of your total monthly income. Your current loan can be decreased through different methods including lower interest rates, waiving late fees, longer loan term and in some cases forgiven principle. If you are one of many facing foreclosure don’t waste any more time, get out of that hole and apply for Obamas Loan modification plan. This plan is only in affect until December 31, 2012.

-M Petrone
www.RefinancingCondo.com

Mortgage refinancing, especially now with mortgage rates near all time lows, can benefit many homeowners. However, there are 2 things which all homeowners can do when refinancing which will ensure that they are getting the best deal possible. Here are 2 of the best tips all homeowners can use when refinancing a mortgage:

-Have a clear cut reason for refinancing.
Whenever your going to refinance your home, make sure you know why you want to. You do not ever have to refinance, yet many people can benefit from refinancing.

Do you want to get lower interest rates? Has your credit improved since purchasing your home? Want to shorten, or lengthen the length of your home loan? Want to use some of the equity you have built up in your home and use it as a low interest loan, so you can get cash back? These are all legitimate, and good reasons many homeowners refinance. While not everyone will benefit, homeowners who know what they want from it stand a much better chance of getting a beneficial home loan.

-Find the best mortgage lender.
Each lender or bank will have their own terms and conditions, as well as different costs and fees associated with refinancing. There also may be cost differences between getting a lower interest rate, or getting cash back, when your refinancing a mortgage.

Always be sure to shop around your situation to a variety of mortgage lenders. Once you obtain quotes which you like, from lenders who seem supportive in helping you reach your goal, carefully scrutinize each loan offer. Once you have 2 or 3 mortgage refinancing offers which you like, bring them to the competing lenders, and see if they can match or beat it. Often, a mortgage lender will lower some costs in order to make their offer a little more lucrative.

-M Petrone
www.RefinancingCondo.com

New Wells Fargo refinancing and mortgage modification options are now available to almost any homeowner. This is all possible because of the “Making Home Affordable” plan. This is a stimulus plan that is aimed at helping millions of homeowners. Only a few mortgage lender and banks are approved to offer this plan, and Wells Fargo is one of them.

Right now, mortgage interest rates are near all time lows and many homeowners can benefit from refinancing. However, with so many homeowners financially struggling, or stuck in bad mortgages with homes that are losing value, getting approved for a beneficial refinancing would have been hard. Now though, this stimulus plan, which is aimed at struggling homeowners, makes getting approved for refinancing easier. This is because of over $75 billion dollars which has been designated to help homeowners. This money, besides covering all closing costs and fees, will cover some of the lender or banks financial risk. With less risk financially, lenders and banks can approve more homeowners than ever before.

With so many foreclosures and mortgage defaults ruining homeowners lives, something needed to be done. In response, this mortgage stimulus plan was enacted. An estimated 8 million homeowners can use this plan for themselves, and get a truly affordable monthly home loan. Wells Fargo has the ability, size, and now the approval, to help homeowners by offering them refinancing options from the stimulus plan.

Wells Fargo, and the Government want to help homeowners. These new refinancing and modification options are a great choice for millions of homeowners who are struggling financially. Right now, it is easier than ever to get approved for a refinance, regardless of your situation.

-M Petrone
www.RefinancingCondo.com

Doing some basic research when getting a home loan refinance can save you a whole lot of money. Simple research can forbid homeowners from making mistakes that can cost a bunch of money or time. Here I have some simple tips which will aid you in getting the best refinancing feasible.

So, When Do I Refinance?
Each situation is different, and their are so many various refinancing choices, one will meet your needs. You should pick out a refinancing option it supporting your financial situation and your goals. You should choose a mortgage answer for your financial situation, and where you want to be in 5, 10, or even 15, years. How much your home loan payment is going to be is calculated out by your loan length, the amount of the loan, and its interest rate. Refinancing your mortgage is the simplest thing you can do to reduce your monthly payment and keep more money in your bank account.

Mortgage Refinancing Benefits

Plenty of benefits await homeowners who refinance a mortgage with their financial objectives in mind. If your desire is to refinance into a lower monthly home loan there are a lot of home loan offerings that can assist you do this. Some homeowners who have a desire to quickly grow equity in their home should get the proper loan. Some homeowners can borrow against the equity in their home and get a cash out refinance. This cash can be utilized for whatever a homeowner wants. Their are even home loan options which can help you get peace of mind, and assurances, even in a bad economy.

So, How Do I Do This?
What you need to do is make sure any potential loan or refinance is going to meet your financial demands. Looking into potential home loan choices and different lenders will help you avoid some mistakes which can cost a lot of money. To find out more about refinancing your mortgage and avoiding these mistakes check out my website at the links below.

-M Petrone
www.RefinancingCondo.com

Predicting mortgage rates can be a tricky thing to do. However, I do think there is some good information to work with, and make a fairly accurate mortgage interest rate prediction for the rest of 2009, and a few months into 2010. Here are my mortgage rate predictions:

Look for interest rates to be around 4.69% for a typical 30 year, fixed rate mortgage. This should happen around October of 2009, and last through April of 2010. This is what the trends and forecasts are leading too, and signs of it becoming an accurate prediction are increasing every day. When a homeowner is able to refinance their mortgage at the lowest interest rate possible, they are getting the most savings possible. Even a little bit of difference in interest rates can have a dramatic effect on a homeowner when refinancing a home loan.

Now those are my predictions, and here is how I made them.

Earlier in 2009, mortgage rates were 4.69% for a typical home loan. This is not a far cry from the current interest rate of around 5.19%. While interest rates right now are low, when they were lower, homeowners were rushing to refinance and take advantage of the historically low interest rates. When the mortgage lenders and banks became overwhelmed with the paper work, they needed to increase the rates to decrease the amount of homeowner interest. They increased the rates by a meager .5% which was small enough to help homeowners, but enough of an increase to hold off the homeowners who just wanted to save money.

Always keep in mind that these are mortgage rate predictions, and not facts. However I think that around October of 2009, mortgage lenders and banks will be ready to take on a whole new wave of homeowners. If you can, wait a little while longer, and then refinance your home, if not, then you need to take action now, even the current rates are very low, and will probably save your a lot of money.

-M Petrone
www.RefinancingCondo.com

Bank of America is one of the selected banks who is approved to offer the Governments stimulus plan to struggling homeowners. All types of programs are now in place which can help a homeowner get a better, more affordable mortgage. Refinancing and mortgage modification are now possible for homeowners who would have been denied before. Here is how it works:

Since Bank of America is one of the approved lenders, they will get money from the Government every time they help a homeowner who is at risk of losing their home. That means, getting approved for a mortgage refinance or modification, no matter your situation, is easier, and more beneficial for homeowners than ever before. Bank of America and the other lenders also get money for every year a homeowner successfully makes their home loan payments, for up to 5 years after the refinancing or modification. This means that it is in the best financial interest of the mortgage lender to offer you a truly beneficial, money saving, mortgage refinancing package.

Also, this stimulus plan provides new options for homeowners in bad mortgages, or a home which has dropped in value. Before this stimulus plan, refinancing and mortgage modification were not easy to get unless a homeowner had 20% equity in their home, or the cash difference. Also, to get approved, a home usually needed to show a potential to increase in value. Now with the bad housing market, and economy, many homeowners are in bad shape. A lot of people owe more than their home is actually worth, are in an ARM loan which keeps increasing, or have a home that dropped in value. This plan will help a lot of homeowners who would have never gotten help before.

President Obamas housing stimulus plan will help an estimated 8 million homeowners. By using approved mortgage lenders and banks, like Bank of America, the money can be regulated and watched to ensure homeowners are getting the help they need. This is a good chance to get an affordable mortgage, get lower interest rates, or save your home from foreclosure. Use this plan for yourself today and contact Bank of America to see what can be done for you.

-M Petrone
www.RefinancingCondo.com

If you possess a Home and have a home loan with either Fannie Mae or Freddie Mac, you are in luck. Fortunately, President Obamas mortgage bailout program will provide a homeowner the prospect to refinance or modify their home loan into a fixed rate 2% mortgage. Here we explain how this program works, and how you can take advantage.

To successfully use this stimulus plan and refinance or modify your home mortgage with Freddie Mac or Fannie Mae, you must satisfy these eligibility prerequisites.

-Mortgages and home loans which are supported by either Fannie Mae or Freddie Mac are immediately suitable to get a 2% refinancing or loan adjustment. This is possible due to Obamas home stimulus plan. Mortgages modified through Fannie or Freddie will be taken down to a monthly payment that does not exceed 31% of the homeowners gross monthly income.

-Homeowners everywhere across the nation have seen the values of their houses drop dramatically as a absolute result of the struggling economy, and the even worse home market. At Present, these homeowners are able to ensure a fixed 2% interest rate when their home loan is modified or refinanced through Obamas program.

-If you are a homeowner who has recently filed for bankruptcy, you are not able to use the stimulus plan from President Barack Obama. Regardless if your mortgage is backed by Freddie Mac or Fannie Mae, you will not be able to take advantage of this plan for yourself. Yet, their are new substitute ways which will let you a opportunity to save your home, and can meet your financial demands.

-A Good Deal of homeowners now have a mortgage that is more worthy than their houses market value. Today using this program, a homeowner can refinance or get a home loan modification even if they owe up to 5% more on the loan than the houses real market rate.

Homeowners looking to refinance or modify their home loans will have a much bigger chance of getting approved. This plan form Obama can easily save a homeowner hundreds of bucks per year, and is super easy to get.

-M Petrone
www.RefinancingCondo.com

Did you know that there is a new housing stimulus plan from President Obama? Did you know that you could see your mortgage rates reduced to 2%, or refinance a home even if you owe more than it is worth? These and many more options are now available thanks to the "Making Home Affordable" plan.

This plan is an attempt to help the millions of homeowners who are facing foreclosure. Right now, foreclosure is at an all time high. Home prices are plummeting, homeowners are having financial problems, and all over the country, homes are in danger of being lost. This plan will help homeowners get a more affordable mortgage through refinancing or modification. Now, many homeowners who would not have been approved are getting the help they need.

This is all possible thanks to funding provided from the Government, and given directly to approved mortgage lenders and banks. This money will help cover dome of the risks of the lenders or banks when they approve a struggling homeowner. Also, this money will be given to a mortgage lender or bank every year, for up to 5 years, for each year of successful payments from a homeowner. This means that getting the lowest, best refinancing possible is also in the best interest of lenders and banks. Homeowners will not have to pay any closing costs or fees when using this stimulus program.

Mortgage refinancing is easier and better than ever for many homeowners. This is an amazing chance to get a better mortgage, and save your home. If you are in any type of financial situation, take control now. The longer you wait the worse and harder it will be to fix your finances. Take contorl of your situation, save money, and save your home.

-M Petrone
www.RefinancingCondo.com

2% mortgage interest rates and many other benefits are available to millions of homeowners. The economy is in bad shape right now, and homeowners are struggling. President Obamas housing stimulus plan is designed to help millions of homeowners. Here is how:

-Mortgage refinancing is easier to get for homeowners facing financial problems. Many homeowners have lost their job, lost hours at work, have seen their home lose value, are in a bad mortgage, or owe more than the home is actually worth. Now, these homeowners can easily get help by refinancing or through mortgage modification. Homeowners should include a letter of “Financial Hardship” stating their problems, and what their plan is to reverse them. Include this letter with your application.

-Fannie Mae and Freddie Mac mortgage holders can get a loan modification. All mortgages with these 2 companies are eligible to be modified into a more affordable rate. The new home loan after being modified can not exceed 31% of a homeowners gross monthly income. This will help many homeowners save 15% or more on their home loan every month.

-Now, up to 105% of the homes value can be refinanced. This helps many individuals, and entire neighborhoods, recover from dropping home prices. This means that a homeowner can owe up to 5% more than the homes worth, and still get approved. This would have been hard to do before this housing stimulus plan existed.

An estimated 8 million homeowners an benefit from Obamas mortgage stimulus plan. With so many hurting homeowners, this plan is exactly what is needed. Homeowners everywhere need to evaluate their situation, and see if this plan can be beneficial for them. Odds are, if you are a financially struggling homeowner, you will get the assistance you need to save a lot of money, or your home. Do not let a financial situation get too out of control, get help now.

-M Petrone
www.RefinancingCondo.com

Mortgage rates are at all time lows, and there is an amazing stimulus plan available from the Government. This means that right now, refinancing a mortgage, can save millions of homeowners a lot of money, or their home from being lost. Regardless of what you hear, getting approved for refinancing is easier than ever, no matter a homeowners financial situation.

Why is refinancing easy to get? President Obamas “Making Home Affordable” plan is a mortgage refinancing and modification stimulus which helps struggling homeowners. This is done by allowing homeowners a chance to refinance or get a home loan modification into a payment which is less than 31% of a mortgage holders gross monthly income. This will be done by reducing mortgage rates to 2%, or increasing the length of a home loan.

There is well over $75 billion dollars available from the Government to give to approved mortgage lenders and banks. This money will pay for the closing costs and fees a homeowner is usually responsible for. Also, this money will be given to the mortgage lender or bank for every successful year a homeowner pays their mortgage after using this plan. That means that homeowners are easily able to get approved for a truly beneficial mortgage refinance or modification.

Many homeowners are struggling financially. They are either stuck in a bad mortgage, have seen their income reduced, lost their job, and are now at risk of losing their home. President Obamas mortgage stimulus plan will help an estimated 8 million homeowners avoid losing their home. This will help neighborhoods, the housing market, and the entire economy. Right now, help is available. Homeowners need to use this plan for themselves, and get into a better mortgage.

-M Petrone
www.RefinancingCondo.com

Refinancing a mortgage with bad credit is not that hard to do. However, there are some things which you can do that will increase the chances of getting approved the first time. Here are some tips for homeowners who want to get a mortgage refinance with bad credit:

1)Always have the proper documents.
Make sure to have all of the documents you will need before refinancing. Regardless of your credit rating this will help you get approved, as it makes the mortgage lenders or banks jobs easier. Often, things like tax returns, bank statements, paycheck stubs, and other related financial information is needed. Of course, things such as social security numbers, and identity will also be verified. Often times, homeowners think they are ready to apply, and do not have all of the documents they need. Ask a mortgage lender or bank what to bring, and make a list of it.

2)Verify your credit.
Make sure you know your credit rating. Even if it is low, check for errors or things which should not be there. Say you field for bankruptcy 8 years ago, that should not be present anymore on your report. Make sure everything is correct, and if it is not, ask that is gets corrected. Even little marks can effect you getting approved, and the rate of interest you pay, dramatically.

3)Know why you want to refinance.
Knowing the reason why you wish to refinance will really help you, and the potential bank or mortgage lender, narrow down the home loan options available to you. If you want lower interest rates, a lower monthly payment, or even cash back from the homes equity, know that they are all possible to get, even with bad credit. However, knowing why, and what your expecting from mortgage refinancing will help you get approved.

4)Compare different mortgage refinancing options from different lenders or banks.
Bad credit mortgage refinancing comparison shopping is even more important. Homeowners need to shop around to different mortgage lenders or banks. Each potential lender has different rates, terms, and conditions, which are available to homeowners. Shopping around and finding the cheapest, best one for you, will help ensure you get the best refinancing deal possible.

-M Petrone
www.RefinancingCondo.com

Mortgage refinancing is possible for nearly any homeowner by using President Obamas “Making Home Affordable” plan. This plan allows millions of homeowners the chance at getting an affordable monthly home loan. A lot of homeowners can use this plan to improve their finances, or save their home. Here is what you should know about this plan:

-Mortgages can be refinanced if they are worth more than the homes market value. Now with Obamas stimulus plan, a homeowner can owe up to 5% more than the home is worth, and still get approved for refinancing. Before this plan was enacted, a homeowner typically needed 20% equity, or the cash equivalent.

-Home loans from Fannie Mae or Freddie Mac are eligible for modification. This is an automatic qualification for millions of homeowners who use these 2 lending giants. This modification will bring the payments every month to 31% or lower than a homeowners gross monthly income.

-Many homes have dropped in value. This stimulus plan will allow an easy refinancing option for homeowners who have seen their home drop by 15% or more. Many homes have lost value as a result of the hurting housing market. This plan will help.

-Homeowners who purchased a home a few years ago, probably got into an ARM (Adjusted rate mortgage) loan. Now, homeowners can easily get into a fixed rate mortgage, which is more stable. This loan is a mortgage which will never raise in price every month.

-Mortgage lenders and banks get money from the Government every time they allow a struggling homeowner the chance to refinance. This means that it is in their best interest to get homeowners into affordable loans. Many rules and restrictions have been eased to allow more homeowners the chance to qualify for refinancing approval.

Mortgage refinancing
can be the answer to many homeowners problems. Right now is a golden opportunity for many homeowners to get a better mortgage, save money, or save their home from being lost. Take advantage of this plan for yourself.

-M Petrone
www.RefinancingCondo.com

Mortgage interest rates can be slashed to as low as 2%, and even homes that are worth less than the mortgage can get home loan refinancing or modification. President Obamas “Making Home Affordable” plan is a housing stimulus which will allow homeowners the chance to get a more affordable mortgage.

This is all because of the high number of foreclosures, mortgage defaults, and struggling homeowners. Entire neighborhoods are being devastated and housing values are plummeting. Mortgage interest rates are currently near all time lows, and combine that with this Obama stimulus plan, millions of homeowners can benefit. There is over $75 billion in funds available to mortgage lenders who abide by the programs rules, and assist homeowners in getting a lower monthly mortgage rate.

Some of the benefits of this mortgage stimulus plan can include:

-Mortgage rates lowered to 2% in order to meet the requirement that the home loan is less than 31% of a homeowners gross monthly income.

-The length of a home loan can be extended to assist homeowners in getting a lower payment.

-ARM loan refinancing options are available to give the homeowner a better, stable, fixed rate mortgage.

-Homeowners can owe up to 5% more on the mortgage than the home is worth.

These are just a few of the benefits now available to homeowners in all sorts of financial situations. Getting refinancing for a hoe loan is better than ever, and easier to get. Any homeowner who is looking for a way to save money, or their home, should look further into this plan and contact a mortgage lender or bank.

-M Petrone
www.RefinancingCondo.com

Mortgage interest rates are important when refinancing a home. With the information we have available, I think we can make some pretty accurate predictions as to where interest rates are headed. Here are my mortgage rate predictions for the rest of 2009, and a few months into 2010.

Right now, mortgage rates are slowly creeping down. An average 30 year fixed rate mortgage can be gotten for 5.19%. That is extremely low, and nearly half of what most homeowners currently pay in interest. While 5.19% is a great rate, I think there is room for it to get lower.

I predict mortgage interest rates to be around 4.69% for a typical mortgage (30 years, fixed rate). While this is not too much lower than the current rates, every little percentage helps a lot. I think that around October of this year, interest rates will drop from where they are now, 5.19%, and into the 4.69% predicted rate. Also, I believe that this interest rate will remain there until the middle of April 2010 or so. This 4.69% rate would match the all time lows, which is great news for homeowners who want to refinance.

Why are rates going to drop? Well because earlier in the year, when the rate was around 4.5%, mortgage lenders and banks saw a huge flood of homeowners looking to refinance into the low mortgage interest rate. Many homeowners pay 10% or more in interest rates, and desperately were seeking to save some money. Since so many homeowners applied for refinancing, mortgage lenders and banks raised the rates again while they had their hands full. Around October, I think they will have caught up with the paperwork, and will be looking for more customers.

Homeowners should wait just a little longer if they can, otherwise, interest rates are still very low, and will probably save you money regardless.

-M Petrone
www.RefinancingCondo.com

In an effort to help homeowners, President Obama has recently enacted his “Making Home Affordable” plan. This is great news for homeowners with a mortgage from Wells Fargo. As one of the few selected lenders, Wells Fargo can now help millions of homeowners get a more affordable home loan payment. Here is how:

-Since home values have dropped in areas all across the country, this plan will allow homes which have seen a 15% or more drop get assistance on the mortgage. These homes, even entire neighborhoods, would have been pretty much out of luck when trying to refinance before this plan existed. Now though, with the stimulus plan, homeowners can get the help they need.

-Mortgages with a balance up to 5% more than the homes market value can get refinanced. Many homeowners got themselves into bad mortgages when the market was booming, and qualifying was easy. Now, homeowners are paying the price with increasing arm (Adjustable rate mortgage) rates, dropping home values, and a struggling economy. Now though, this plan will allow a lot of homeowners with a bad mortgage the chance to get a stable, fixed rate, low interest home loan.

-Wells Fargo, like other selected lenders, will charge no fees or closing costs for these refinancing or mortgage modification options. All of the closing costs, fees, and financial risks of the lender for approving a at risk homeowner, are taken care of by the Government. Over $75 billion in funds are available to help homeowners.

Wells Fargo stimulus mortgage refinancing offers a lot of homeowners the break they need to catch up financially. Also, many homes will not be lost to foreclosure or loan default directly because of this plan. Homeowners who are feeling any type of financial pinch should seek help while it is easy to get.

-M Petrone
http://www.refinancingcondo.com/

Homeowners who have bad credit can get approved for mortgage refinancing easier than they think. New home loan refinance options are in place which will help nearly any homeowner get a more affordable home loan every month. Here are some tips for homeowners looking to refinance with bad credit:

1)Know Why
You must know why you want to refinance. With so many options, knowing what you need will help you get the best loan for you. However, mortgage lenders and banks often push a refinancing deal that will profit them the most. Always make sure you know why, and what your expecting from mortgage refinancing.

2)Have all paperwork and documents.
This is a crucial step that many homeowners make a mistake on. Always make sure to double check anything that a mortgage lender or bank will see. This includes credit reports, loan applications, tax returns, and all relevant information. If there any questions which can not be answered, or facts that can not be verified, you will be denied a refinancing, especially with bad credit. Coming in properly prepared shows a commitment to the lender or bank that you are willing to do things the correct way.

3)Get the best deal you can.
While this seems obvious, many homeowners do not comparison shop between different mortgage lenders and the options available to them. Fees, costs and interest rates are different at each lender or bank, and finding the best ones is up to you. Just like any big purchase, do some research and comparison shop prior to agreeing to any bad credit mortgage refinancing option.

Bad credit mortgage refinance is not as hard to get as it was in the past. Many homeowners are struggling, and lenders and banks know that. Almost every homeowner can get a beneficial refinancing for their home loan, even with bad credit.

-M Petrone
www.RefinancingCondo.com

Mortgages from Fannie Mae or Freddie Mac are eligible to benefit from President Obamas “Making Home Affordable” plan. This is a Government sponsored program which will let homeowners with Fannie or Freddie get an affordable monthly mortgage payment.

Fannie Mae and Freddie Mac mortgage holders can automatically, regardless of finances, get a modification. This is because the stimulus plan from Obama allows it. Now, homeowners can easily save their home, or a whole lot of money. Never before has a program been in effect that can help so many homeowners. Between low interest rates and this new Government program, homeowners can get the assistance they need.

Now, home loans with Fannie or Freddie can be reduced to 2% interest rates, extended in length, or have the terms and conditions changed. All of these things will assist a homeowner in getting a lower payment, which is the ultimate goal. Under this new plan, a home loan will not exceed 31% of a homeowners income. While many homeowners pay less than that, a lot pay more. A savings of 10% - 20% on a mortgage would easily add up.

Homeowners should use this plan if they have a mortgage from Fannie or Freddie. Getting approved for mortgage refinancing, usually the hardest part, is now assured for millions of homeowners. Many homes have been, and will be, saved as a direct result of this stimulus plan from Obama. Do yourself, your family, and your finances a favor and take advantage of this plan for yourself. The money you can save will make your life easier, and possibly save your home.

-M Petrone
www.RefinancingCondo.com

Get 2% mortgage rates, lower monthly payments, and save your home from foreclosure. All of this is possible thanks to President Obamas “Making Home Affordable” plan. This is a mortgage bailout plan which is designed to help the millions of struggling homeowners who are going to lose their home. Using this plan is easy, and almost everyone will be approved.

Homeowners who would not have a chance at getting approved before this plan, are now getting all the help they need. Over $75 billion is being pumped into this program with hopes of saving homes, financial futures, and entire neighborhoods. Never before has such a wide spread housing stimulus plan been in effect. Homeowners need to realize that this is a once in a lifetime chance to truly get a better mortgage, and change your finances for the better.

How this works is pretty simple. Most of the $75 billion will be given to select mortgage lenders and banks who have been approved to offer this plan. With some incentives, mortgage lenders and banks are now easing their refinancing requirements to allow more homeowners to get the approval they need. A homeowner will not have to pay one penny to use this plan. There will be no closing costs, or upfront fees at all.

With money coming in, and cash incentives to secure their finances, banks and lenders are eager to help. With so many mortgage defaults and foreclosures, the lenders and banks realize the need to seriously help homeowners. With the rate of people losing their home so high, no one benefits in such a bad market.

Now is the time to take control of your financial situation and get the home loan you need. This program is a blessing for millions of homeowners, and will allow them to save a lot of money, or their home. Take action now and do what millions of homeowners already have, save your home.

-M Petrone
www.RefinancingCondo.com

Refinancing a mortgage can be a great thing for many homeowners. However, there are some things a homeowner must consider prior to making their decision. Here are some questions a homeowner should ask themselves before refinancing their mortgage.

1)Why are you refinancing?
Do you want lower monthly mortgage payments? Want to take advantage of an increased credit rating, or low interest rates? Want to get out of your ARM loan and into a stable, fixed rate mortgage. These are all questions which will help you get the refinance package you need. Always make sure to have your long term goals in mind.

2)How long are you planning on living in your home?
If you are not planning on living in your home for more than a few years, refinancing may not be the proper decision at all. However, this is just a general statement. Some homeowners who are planning on selling their home can benefit from an ARM loan. Sometimes an ARM loan comes with very low interest rates for a certain period of time. This type of ARM loan can guarantee your rates will not increase for a certain amount of time. If you can get a loan like this, and are moving or selling your home soon, you can benefit from the low interest rates that often come with an ARM loan.

3)What will the total costs be when I refinance my mortgage?
Sometimes, homeowners refinancing are only going to save a little bit of money. While every little bit helps, oftentimes a refinancing can be a bad thing because the homeowner did not take all closing costs and fees into account. Homeowners need to know their “break even” date. This is when you will overcome the expenses of refinancing and actually start saving money every month.

Home loan refinance can truly help many homeowners. However, these are a few simple questions that need to be asked prior to agreeing to anything. Always make sure you have done all your homework and research, and know the answers to these questions.

-M Petrone
www.RefinancingCondo.com

New programs are in place which allow almost every homeowner facing foreclosure the chance to save their home. Mortgage refinancing and modification packages are now available which help homeowners in nearly any financial situations get a more affordable mortgage. Many homeowners are struggling financially and can still use this plan for themselves.

Home loans everywhere are at risk. Millions of homeowners are unable to pay their mortgage anymore due to a loss of job, increased payments, financial hardships, or lots of other problems. This is causing many homes to be lost to foreclosure or mortgage default, and bringing down entire neighborhoods. Something needed to be done, and President Obama answered with this amazing stimulus plan for homeowners. Now, there is some hope for homeowners and a chance to save their home.

There is over $75 billion dollars in funding for this plan which is there to help homeowners. This money will make mortgage lenders and banks more likely to approve you because they will be getting most of this money. The money mortgage lenders and banks get to help homeowners covers some of their risks when approving an at risk homeowner. Also, this money will cover all costs and fees typically associated with refinancing.

With struggling homeowners being the main concern, getting help for a home loan is easier than ever. Now, there are a lot of new options and programs which can truly benefit millions of homeowners. A homeowner needs to contact their mortgage lender, or a competing lender, and see what they can do for you. Ask about the housing stimulus plan, and how it can help you. This program is here to help. You need to do your part and ask for the help you require.

-M Petrone
www.RefinancingCondo.com

New help for homeowners is available now. Mortgage refinancing and modification options are now in place to help nearly any homeowner. Getting a new, more affordable, mortgage is easy even for homeowners with a bad loan, bad credit, bad debts, or other problems.

Many people will benefit from this stimulus plan for homeowners. Basically, this plan targets the approximately 9 million homeowners facing foreclosure or mortgage default. These homeowners can no longer afford their mortgage, and need something to change that or their house will be lost. That is exactly why this stimulus plan was started.

Now, homeowners who would have been denied are getting the home loan help they need. Here are some of the circumstances a homeowner can be facing, and still get the help they require:

-Many homes have dropped in value making getting approved for refinancing hard to do. Now though, homeowners and entire neighborhoods will benefit from the fact that is a home has lost 15% or more in value, they can get approved for mortgage refinancing or modification.

-Homeowners can now get approved with little, or even negative, equity. This stimulus plan allows homeowners who owe up to 5% more than their home is worth to still get approved for refinancing or home loan modification.

-Mortgages from Fannie Mae and Freddie Mac are automatically able to get modified. The total new payments for your home will not exceed 31% of your monthly income.

Homeowners everywhere are hurting. This stimulus plan offers millions of people a chance to save their home, or a lot of money every single month. Homeowners who are having any troubles at all should take action before those problems get worse. Use this plan for yourself today, save your home, and secure your financial future.

-M Petrone
www.RefinancingCondo.com

If you are in the process of refinancing your home loan doing your homework can save you thousands of dollars. When you explore your mortgage choices you will be able to avoid common mortgage mistakes; here are the basics of mortgage refinancing to get you started.

So, When Should I Refinance a Mortgage?
Each situation is different, and their are so many various refinancing options, one will meet your needs. Your personal goals and finances should decide your refinancing choice. You should select a mortgage solution for your fiscal situation, and where you want to be in 5, 10, or even 15, years. How much your home loan payment is going to be is figured out by your loan length, the amount of the mortgage, and its interest rate. Refinancing your mortgage is the simplest thing you can do to reduce your monthly payment and keep more cash in your pocket.

Rewards of Refinancing a Home Loan
Plenty of benefits await homeowners who refinance a mortgage with their financial objectives in mind. If your goal is to refinance into a smaller monthly home loan there are many home loan offerings that can assist you get this. If you want to quickly establish equity in your home, and pay your home loan off quicker, their are specific loans which can help you. Their are also plenty of cash back mortgage refinancing options which allow homeowners to quickly collect a significant sum of money for any reason they want. If your main goal is to defend yourself against a tough economy, and make sure you have some kind of peace of mind, their are mortgage selections available to you.

So, How Do I Do This?
You need a refinancing deal that will meet your existing, and potential, financial demands. Easy home loan research and knowing about different mortgage lenders can save a homeowner a lot of money. To learn more about refinancing your mortgage and avoiding these slips check out my internet site at the links below.

-M Petrone
www.RefinancingCondo.com

The new mortgage bailout plan from President Obama will allow millions of homeowners the chance for refinancing or mortgage modification into an affordable monthly payment. Homeowners who are struggling, need to get assistance before they lose their home. This plan, offers all different types of refinancing or modification options, for all types of homeowners.

Never before has a struggling homeowner been able to so easily get the help they need to save their home, or a lot of money. Now though, with this new stimulus plan in effect, homeowners all over are using it for themselves. An estimated 9 million homeowners will directly benefit from this plan. Whether they save money, or their home, there are options, even for homeowners with financial issues.

Since so many individuals, and entire neighborhoods, are hurting from the housing crisis, something had to be done. Now, there is a home stimulus plan with over $75 billion in funding aimed at helping homeowners. Never before has such a wide reaching plan been so easy to get, and backed by the Government. The situation with millions of homeowners losing their home threatens the entire economy, and help was needed. Now, homeowners are much more likely to get an affordable loan through refinancing or mortgage modification.

Really, if you are a homeowner who has been feeling the pinch of this tough economy, take action now and get the mortgage refinance help you need. There is an option for almost any homeowner, regardless of your financial or mortgage situation. All you must do is go find a good deal. It is up to you to take action and prevent foreclosure. Right now, taking action is easy, and you should.

-M Petrone
www.RefinancingCondo.com

Bank of America now haw the ability to offer the Presidents “Making Home Affordable” plan. With this plan, millions of struggling homeowners can get the help they need in reducing their home loan payments every month. Taking advantage of this plan is easy thanks to Bank of America. Here is how:

Now, homeowners do not have to fear foreclosure because they can not afford their mortgage payments every month. Getting a more affordable home loan by refinancing or modification is easier, and more beneficial for homeowners than it has ever been before. Why? Because lenders and banks like BoA (Bank of America) have begun receiving cash incentives from the Governments plan. This money will be given to a lender or bank who successfully helps a homeowner get a lower monthly mortgage. Right now, mortgage lenders and banks who are offering this plan, have eased their lending requirements so they can help more homeowners, and take advantage of the stimulus money.

Mortgage foreclosures and defaults are at all time highs. Nearly 1 in 8 homeowners is in serious risk of losing their home. However, this plan can change that for many people. Now, homeowners have new options which allow them to:

-Refinance even if they owe more than the home is worth.

-Get a better mortgage for homes which have dropped in value.

-Get lower interest rates.

-Obtain an affordable monthly home loan payment.

Homeowners who have financial problems, would have been hard pressed to actually find a mortgage refinancing option which would actually help them. This new plan though, allows homeowners a real chance to get a better home loan. Also, this plan will help the homeowners finances, and financial future.

Homeowners in all types of situations are encouraged to use this plan for themselves. Never before has it been easier for a struggling homeowner to get help with their home loan. Contact Bank of America and see what they can do to help you.

-M Petrone
www.RefinancingCondo.com

President Obama knows that millions of homeowners are hurting. Many individuals, and entire neighborhoods are being devastated by foreclosures, dropping home prices, and other economic problems. This new stimulus plan from Obama will allow millions of homeowners the chance to get a better, more affordable mortgage through refinancing or modification.

A stimulus plan like this has never existed for homeowners before. This is truly a once in a lifetime chance to really help your finances, and your financial future. Homeowners who would have been denied before, are now easily able to get the help they need to save their home, or a whole lot of money. Any homeowner who is facing financial problems of any kind, needs to use this plan to turn their situation around.

New plans for homeowners include:

-Allowing homeowners the chance to get a refinancing or mortgage modification even if they owe up to 5% more than the homes value. This would have been extremely hard for a homeowner to get prior to this plan existed.

-Now, all homeowners with a mortgage from Freddie Mac or Fannie Mae are automatically able to get a home loan modification. This modification will limit the amount a homeowner has to pay towards their monthly mortgage. With this new stimulus, the home loan payment every month can not exceed 31% of a homeowners gross monthly income.

-Homeowners with financial problems, are also eligible to qualify for a great refinancing or mortgage modification opportunity. This includes homeowners who have lost a job, have a reduced income, or are facing other financial problems. All a homeowner has to do is write a letter stating their problems, and potential solutions, and include it with their application.

Mortgage refinancing and modification
are easier to get than ever before. Even for homeowners who are convinced they will not be able to get the help they need.

-M Petrone
www.RefinancingCondo.com

Mortgage refinancing is not a hard process at all. Right now, millions of homeowners can benefit from getting a refinance. Interest rates are near all time lows, and new Government programs allow all types of homeowners to get the help they need. Here is how to refinance your mortgage:

-Get your documents and all paper work in order.
This sounds easy, but it is one of the most common reasons homeowners get denied a refinancing. If all of your paperwork is not in order, than the process can be delayed, or you can get denied. Always make sure that every document related to your finances is ready, and accurate. Also, get copies of your credit rating, and make sure it is completely accurate. If a mortgage lender or bank can nor verify something about your income or finances, you can get denied.

-Know why you want to refinance.
There are many benefits to homeowners who choose refinancing. Homeowners can get cash back from the equity in their home, get lower interest payments, get lower interest rates, or change the terms and conditions for their mortgage. Homeowners need to know what their goal is, and why they need refinancing. If you know what you are looking for, it makes shopping around for the best deal easy.

-Compare different quotes from a variety of mortgage lenders.
Just like shopping for any large ticket item, prices vary from location to location. Each homeowners situation is different and will require different mortgage refinancing options. Always know what your reason is, and seek out the appropriate loan.

These are just some simple tips which can help you successfully get the refinancing for your home loan you need. Take advantage of this good time to refinance, and get the help you need.

-M Petrone
www.RefinancingCondo.com

Fannie Mae and Freddie Mac homeowners are in luck. The new Obama stimulus plan allows easy refinancing and mortgage modification options for all homeowners with a mortgage from Fannie or Freddie. This plan will allow these homeowners a chance to get a more affordable mortgage. Here is how:

All homeowners with a mortgage from Fannie Mae or Freddie Mac are eligible for mortgage modification. This means struggling homeowners are now able to get the help they need to avoid losing their home to foreclosure or mortgage default. With so many homeowners in trouble, this plan provides a chance to get out of financial problems or bad mortgages, which so many people have. Never before has such a massive stimulus plan for homeowners been implemented.

Homeowners can get lower mortgage interest rates, adjust the length of their mortgage, or get lower mortgage payments. This is automatic for all homeowners with a mortgage from Fannie or Freddie. Even homeowners who owe more than the homes worth, have lost their job, or have a lot of other debts, can get their mortgage payments lowered, and lower the chance of getting foreclosed on, or losing their home to mortgage default.

Fannie Mae and Freddie Mac are two of the largest mortgage lenders in the country, and they are ready to help homeowners. The new stimulus plan from President Obama will save millions of people a lot of money, or their home. Using this plan for yourself is easy, and homeowners should use it if they are in any kind of financial trouble. Get a better home loan now, while this homeowner stimulus plan is in effect.

-M Petrone
www.RefinancingCondo.com

Homeowners can take advantage of amazing new programs deranged to help lower mortgage payments. The “Making Home Affordable” plan is a mortgage refinancing and stimulus program for struggling homeowners. Millions of people can use this plan for themselves, and save a lot of money, or their home.

Right now, this plan is in effect and working. Homeowners need to contact a mortgage lender or bank who has been authorized to offer this plan. When using it, mortgage rates can be reduced to 2%, loan lengths can be extended, and homeowners in all sorts of bad mortgages, and financial situations can get help. Mortgage refinancing and modification options are available for nearly any situation a homeowner is in, and will lower their monthly payments.

A lot of people who would have been denied in the past, are getting the help they need now. Even homeowners who owe up to 5% more than their homes worth can get help. Also, homeowners with bad credit, or who are facing financial problems can get a lower mortgage by using this plan. This plan is truly designed to help homeowners, and all types of situations have been covered. With the increased amount of foreclosures and mortgage defaults, this plan will help many people, and entire neighborhoods.

Many people can easily use this mortgage refinancing stimulus plan to their advantage, and start saving money almost immediately. Between easier application processes, better mortgage rates, and this new Government stimulus program, mortgage refinancing has become a great option for millions of homeowners. Using this plan for yourself is not hard to do.

-M Petrone
www.RefinancingCondo.com

Mortgage refinancing can be a great thing for a lot of homeowners to do. However, there are some common mistakes which homeowners make that can cost them time, and money. Here are some tips which will help you get approved the first time, and get the best mortgage refinance deal possible:

-Double Check All Documents
Homeowners need to realize that even a little mistake, on your application or credit rating, can carry huge consequences. Always request copies of your credit report, so you can check for errors. Small mistakes can get a homeowner denied, or not let them get the lowest interest rates they can. Also, the application to your lender is important. Always make sure all income and statements made on your refinancing application can be verified. If there are any questions which a lender can not answer, you will get denied.

-Compare Different Lenders and Mortgage Refinancing Options
When refinancing, always be sure to compare different mortgage lenders, and what they are offering you. Mortgage lenders and banks have all different restrictions and terms which can vary drastically. When you comparison shop different mortgage lenders, you are ensuring you get the best deal possible. This is just like shopping for any other large purchase.

-Know Why you want a Mortgage Refinancing
Make sure you have a reasons to refinance your mortgage. Many different reasons, and options exist for all homeowners. Picking the right one for you is crucial. You need to know if you want lower interest rates, smaller loan payments, or cash back from the refinancing. This will make choosing, and figuring out which refinance option is best for you.

Mortgage refinancing is often made to look a lot more difficult than it is. These few tips can dramatically decrease the cost of a home loan refinance.

-M Petrone
www.RefinancingCondo.com

Mortgage rates are near all time lows right now, and if that is not enough, the Obama stimulus plan allows interest rates to be lowered even further. This stimulus plan provides an easy way for a homeowner to save money, or their home from being lost to foreclosure, or mortgage default. Millions of homeowners will benefit from this plan, and here is how:

-Homeowners Now have New Options for Refinancing
The restrictions from the approved mortgage lenders allow homeowners with a bad mortgage, bad credit, or financial problems the chance to get approved. This will save a lot of homes from being lost, and stop the foreclosure process on existing homes. Also, a mortgage will be approved for refinancing even if the home is worth less than the loan. This would have been nearly impossible before, but now can easily happen through this stimulus plan.

-Bad Credit, or Financial Problems? You can still get help.
Homeowners with financial problems can get the help they would have been denied before this plan existed. Loss of job, reduced wages, hospital bills, and a lot of expenses a homeowner is facing will be taken into account, and will actually help you get approved. This plan will provide money to lenders and banks who help homeowners in all types of situations. This money allows them to approve more people because their risks are financially covered. Homeowners need to include a letter stating their hardships, and their solution to those problems. This letter should be included with the application when you refinance.

This plan is truly a gift for many homeowners who need mortgage refinancing to save their home. Millions of homes can be saved, along with a lot of money. Homeowners simply need to contact their mortgage provider, or a competing one, and ask about how this plan can help them.

-M Petrone
www.RefinancingCondo.com

Bad credit mortgage refinancing has never been easier, or more beneficial for a homeowner. Now, with interest rates near all time lows and Government stimulus plans in place, is the time to refinance. Even homeowners with bad credit, bad mortgages, or financial problems, can get an approval for mortgage refinancing or modification. Here is how:

Many homeowners with bad credit or financial problems will now be eligible for refinancing or loan modification using the Governments mortgage bailout plan. This plan, is designed to help millions of homeowners who are at risk of losing their home. With so many foreclosures and mortgage defaults occurring all across the country, something needed to be done.

A $75 billion stimulus plan to help homeowners was created. This plan, has provisions which allow all types of homeowners to get the help they need, even if they could not get it before. Homeowners with bad credit, who owe more than the home is worth, a bad mortgage, or financial hardships can now get assistance which will help them get an affordable mortgage, and save their home from foreclosure. An estimated 8 millions homeowners can use this plan, regardless of their credit, and get a better home loan.

Mortgage lenders and banks will be receiving most of this $75 billion. The money is given to them every time, and every successful year of payments, they approve a homeowner who is at risk of losing their home. This means, now mortgage lenders and banks have an incentive to help you. Which makes the entire process easier and more beneficial for nearly every homeowner.

Bad credit mortgage refinancing is now very possible for many homeowners to get. Before this plan, homeowners were pretty much out of luck if they had financial troubles and wanted to refinance. Now though, things have changed to the benefit of homeowners everywhere, and saving your home is easier than ever.

-M Petrone
www.RefinancingCondo.com

No matter what you hear, refinancing a mortgage is not that hard to do. There are alot of choices for homeowners looking for home loan refinancing. Here are some easy things that can assist a homeowner in acquiring the mortgage refinancing they require.

Mortgage rates are important, but not the only thing that counts.
Frequently, a homeowner will view a reduced mortgage interest rate, be satisfied with how small the rate is, and sign off. Considering nothing else, a homeowner often only sees the smaller interest rate, and is glad. However, terms, conditions, loan type and closing fees of the mortgage, may make that reduced interest rate empty. Home loan refinancing costs on average, a few thousand dollars, and you will see some banks who charge a lot more. If a mortgage lender or bank wants to charge you a lot more than common, you could end up losing any savings, and actually spending more money. Be sure you are fully conscious of the total closing costs and fees prior to getting into anything.

Make sure to find a good, honest, bank or mortgage lender.
Today, mortgage lenders and banks are all over the place. Just think about how many small, no name banks have come along in your area? A lot of net companies do not even have a real office, just an electronic mail address and a telephone number. These small, or net companies can sometimes provide a really low interest rate due to almost zero costs to them, but do not generally work for the average homeowner. For most people, their house is the most expensive item they will ever have. Do not put your home in the control of a company with no history, or record or performance.

Always make sure you are refinancing for a reason.
Their is help available for homeowners who look for it. Make sure you are getting the right home loan type that matches the reason you wish to refinance. This means that if you are searching for leaner interest payments, make sure you are capable of getting a smaller mortgage rate. Homeowners who want to get some money from a refinancing should verify how much equity they have developed up and can borrow against in their home, and use that. Do not get a refinancing just on a whim. Never refinance a mortgage without a effective cause to do so.

-M Petrone
www.RefinancingCondo.com

Homeowners are losing their homes all across the country. Whether its due to foreclosure, or defaulting on their mortgage, homeowners are hurting. Luckily, Ditech and the Obama administration have a plan. This stimulus plan will allow homeowners the chance at getting an affordable home loan through new refinancing and modification options.

These new options make getting approved for refinancing or home loan modification easier than ever. Even homeowners on the brink of losing their home, can reverse the process, save their home, and save money. This is all possible because of $75 billion in funds to help homeowners. This money will make applying, getting approved, and saving your home, easier than it ever has been before. Most of the money will be given to the approved mortgage lenders, like Ditech (GMAC), to help homeowners. This money will cover any risk the lender assumes by approving you, and also gets bigger for every year a homeowner successfully pays their mortgage. This means that it is now in the best interest or mortgage lenders and banks to offer the best refinancing deals to all homeowners.

Ditech, with this stimulus plan, can offer new refinancing and modification options to many homeowners. Some of the benefits of this plan are:

-Lowered interest rates, some reduced as low as 2%

-Lengthened home loan terms which can lower the monthly payment.

-Easy applications, and approval processes.

-Streamlines mortgage refinance options which will let a homeowner in foreclosure reverse the process.

-Allows homeowners mortgage modification to get a new, affordable rate. The most a homeowner can pay when using this plan, is 31% of their gross monthly income.

-Free counseling is available from certified HUD locations.

There has never been such a powerful plan in place to help homeowners. Ditech, President Obama, and homeowners everywhere understand the problems in the housing market. This stimulus plan will provide a lot of relief to many individuals, and entire neighborhoods.

-M Petrone
www.RefinancingCondo.com

Get 2% mortgage interest rates, lower monthly mortgage payments, and many other benefits from President Obamas stimulus plan. This plan is a stimulus for struggling homeowners which will help them avoid foreclosure or losing their home. Millions of homeowners are at risk of losing their home, and this plan will help them.

Since so many millions of homeowners are facing foreclosure, this plan offers many different ways to save a home. Mortgage lenders who are offering the stimulus plan must adhere to strict guidelines which truly benefit the homeowner. When a refinancing or modification takes place in accordance with this stimulus plan, cash is given to the lender or bank who approved the loan. This money will cover some of the financial risks a lender is taking on, and will pay for all of the closing costs and fees. A homeowner will have to pay nothing to get assistance from this plan.

There has never been a better time to be a struggling homeowner. As odd as that may sound, it is true. These new mortgage refinancing options allow interest rates to be reduced to as low as 2%, mortgage lengths changed, and other terms and conditions may be modified to help the homeowner keep their home. Nearly 8% of all homeowners are behind on their home loan payments, and facing foreclosure. This plan will reverse that ugly trend, and help a lot of people keep their home.

This homeowner stimulus program from Obama will be exactly what homeowners need to get a lower monthly home loan payment. These lower payments will enable a homeowner to save their home, and pay down their other debts, which helps their overall situation. Entire neighborhoods, and many individuals will benefit from this plan, without much effort to get approved. Get the help you need, and use this plan for yourself.

-M Petrone
www.RefinancingCondo.com

Homeowners now have the options of refinancing their mortgage with one of the most streamlined packages ever. Wells Fargo offers new home loan refinance options to struggling homeowners thanks to the Obama stimulus plan. Millions of homeowners can get a better, more affordable mortgage through Wells Fargo, and here is how:

Getting approved for refinancing is now easier, and more beneficial than ever. Wells Fargo is now able to offer new solutions to homeowners who are at risk of losing their home. Some of these solutions include reducing interest rates to as low as 2%, extending the length of the mortgage, or changing other terms and conditions. Millions of hurting homeowners can take advantage of the new, easier to qualify for, mortgage refinancing options available from Wells Fargo.

Homeowners can avoid foreclosure, or save a lot of money, by getting a mortgage which is actually affordable. This is a chance for the millions of homeowners facing foreclosure to take action and save their home. These options are fast, effective, and one of the only ways a homeowner can avoid being foreclosed on.

This Wells Fargo mortgage stimulus program will help homeowners get a streamlined way to save their home from being foreclosed on, and save money every single loan payment. Also, homes can now be refinanced even if they are worth less than the amount due on the mortgage. Getting approved for refinancing before this plan with a bad mortgage, bad finances, or a bad loan to value ratio, would have been nearly impossible to do.

If you are at risk of losing your home to foreclosure, contact Wells Fargo and see what they can do to help you. New options make the odds of receiving help better than ever before. Take advantage of this stimulus plan for yourself, and see the savings start rolling in.

-M Petrone
www.RefinancingCondo.com

With mortgage refinancing becoming much more popular lately, many homeowners do not know what to look for. Many homeowners make a few costly mistakes when they refinance, which can cost them a lot of money. Here are some tips which can help you get the best mortgage refinance possible.

-Know the True Costs and Benefits of Refinancing your Mortgage
When refinancing, lower interest rates are always better. However, sometimes a lower rate comes with increased fees and costs. Many times, mortgage lenders and banks will advertise an ultra low interest rate, but make up for it with their extreme closing costs, fees, or qualifying standards. The best thing you can do is make sure the interest rates do not come with huge fees which would negate any potential savings.

-Know Why You want to Refinance
Are you interested in getting lower interest rates? Want a lower monthly payment? Need to get out of an ARM loan and into a fixed rate mortgage? Want to get some cash from your homes equity? There are many options available for homeowners who want to refinance. You can get a lower interest rate, change the length of your mortgage, of get cash back. All of these options have drawbacks and advantages. Each situation will determine the appropriate mortgage, but make sure you know your options.

-Compare your Options and Different Mortgage Lenders Quotes
Always make sure to comparison shop between different lenders, their options, and their costs. Most of the time, you will get a different quote from different lenders. Everyone charges different fees and costs, and have different requirements to qualify for a lower interest rate. Be sure to get several quotes from potential mortgage lenders, and pick the one which is best suited for you.

-M Petrone
www.RefinancingCondo.com

Bank of America is now able to help more homeowners than ever get the refinancing they need. There are new options which allow Bank of America to help millions of homeowners who would have been denied before. The Governments housing stimulus plan, and Bank of America will help you get a more affordable mortgage. Here is how:

-Only a very few selected mortgage lenders and banks are authorized to offer this plan to struggling homeowners. These selected lenders and banks will get money from this stimulus plan every time they help a homeowner who is at risk of losing their home. This money means there are no closing costs for homeowners, or other fees which would have typically added up to thousands of dollars.

-Bank of America can reduce interest rates, as low as 2%, or extend the length of time to pay off the loan in. Both of these would lower a homeowners monthly payments, and a combination of the two would dramatically reduce your home loan payments. This is only possible from mortgage lenders and banks who have been selected to offer this stimulus plan.

-Homeowners commonly owe more on their mortgage than their home is actually worth, This is especially true with the bad housing market, plummeting home prices, and the lack of buyers. Now though, even homeowners who owe as much as 5% more than their homes worth, can still get assistance from this Government stimulus plan.

Bank of America home loan refinancing options are plentiful for all types of homeowners. Right now is one of the best, and easiest times ever to refinance your mortgage. This stimulus plan will help millions of homeowners, and Bank of America is ready, and authorized, to help.

-M Petrone
www.RefinancingCondo.com

Mortgage refinancing and modification just got a lot easier for millions of homeowners. That is because of President Obamas “Making Home Affordable” plan. This plan offers new refinancing options, that did not exist before, and are now available to struggling homeowners. Getting a better, more affordable mortgage with this plan is easy.

Homeowners everywhere can get interest rates as low as 2%, or there loans extended. Both of these things would reduce your home loan payment every month, let alone both a combination of the two. More importantly though, this plan makes is easy for a homeowner to qualify for help. This will help homeowners avoid foreclosure, and save money every single month. Right now, many homeowners are at risk of foreclosure, but they do not have to be.

This plan provides money to mortgage lenders and banks who offer assistance to struggling homeowners. That means, every time a homeowner is approved for assistance from this stimulus plan, the bank or lender who approved them gets money too. This money is used to cover all closing costs, and other fees, which would have cost a homeowner thousands of dollars. This is all because of Obamas plan. It is in the best interest of mortgage lenders and banks to offer you the best deal possible. This way they ensure you do not face losing your home again, and they get as much money as they can from the stimulus plan.

Many homeowners need to take advantage of this mortgage refinance plan to avoid losing their home. A lot more people can use this program to get a lower monthly payment, or modify their loan so that it is more affordable. Many new options are available to homeowners, and you should take advantage of them.

-M Petrone
www.RefinancingCondo.com

Homeowners everywhere need to save money. With the housing market in such bad shape, and interest rates so low, a lot of people are looking into mortgage refinancing. Every homeowners situation is different, and refinancing can provide many benefits. Here are some tips which can help a homeowner get a better mortgage:

-Paying Points Up Front or Getting a Lower Interest Rate
When homeowners are refinancing, they need to figure out whether the benefits of a low mortgage rate outweigh the costs of paying for points up front. Homeowners may find out that, depending on their situation, that the right choice will depend on a few different things, like how long you plan on living in your home.

-Interest Rates and Mortgage Lenders Tricks
A lot of mortgage lenders and banks advertise low, or even 0% interest rates. While these look good, the truth is that the costs are made up for somewhere else. Dont be a victim of predatory lending and get yourself into a mortgage which will jump in payment amount in a few years, which you will not be able to afford.

-Know the Exact Amount of All Mortgage Refinancing Closing Costs and Fees
A lot of homeowners just look for lower interest rates when they refinance. However, make sure that that there are no hidden fees or costs that will surprise you. Always know what the exact total cost is when refinancing a mortgage.

-Get an Quote
By law, you have the right to obtain a “Good Faith Estimate” from a potential mortgage lender. Make sure to ask for a copy of this and carefully go through it. This document will reveal the true costs, and savings, of a mortgage refinance with a particular mortgage lender or bank.

-M Petrone
www.RefinancingCondo.com

Wells Fargo mortgage refinancing is one of the most streamlined programs in the industry. Now that they have been approved to offer the Governments stimulus plan, this streamlined mortgage refinance process is available to millions of homeowners. Get a better mortgage by refinancing with Wells Fargo, here is how:

Mortgage holders who use Wells Fargo will be able to get approval easier than ever. With new cash incentives being given to the select lenders and banks from the Government, getting the right refinancing option is very possible, regardless of your financial situation. The eligibility requirements have been relaxed, and this is to the advantage of millions of desperate homeowners.

Money will be saved for homeowners by putting them into home loans which they can afford every month. Interest rates can be reduced, and the length of the mortgage can be extended to help homeowners get a lower payment. This is a great option for homeowners facing foreclosure or mortgage default.

This mortgage stimulus plan will enable a quick, and sure fire way to stop foreclosure. Even for homeowners already in foreclosure, this plan can help. Mortgages can also be refinanced even if the homeowner owes more than the house is worth. This would have been nearly impossible to get before this plan existed.

Now is a better time than it ever has been for homeowners to use Wells Fargo and get a better mortgage. These new options for homeowners really will save millions of homes from being lost. Mortgage lenders and banks are eager to assist homeowners, as they do not want to lose any more money either.

-M Petrone
www.RefinancingCondo.com

Mortgage refinance is a way many homeowners can avoid foreclosure. Now, it is easier and better for a homeowner than it has ever been before. The “Making Home Affordable” plan allows easy refinancing options for homeowners in all types of financial situations.

This is a new Government program which aims to help the millions of homeowners facing foreclosure. This plan makes getting an affordable mortgage easier than it has ever been before, and a lot of homeowners can use it for themselves. Right now, this plan is desperately needed as foreclosures and mortgage defaults are at an all time high. Individuals and entire neighborhoods will benefit from this plan.

This plan will help homeowners who:

-Owe more on their mortgage than their home is actually worth.

-Are facing or will be facing foreclosure on their home.

-Who have an ARM loan which is always increasing, and is no longer affordable.

-Who are facing financial hardships or problems which make is hard to pay their mortgage.

Usually, homeowners facing these problems would find it very hard to get approved for refinancing. Now though, with new incentive plans in place which pay mortgage lenders and banks who help homeowners, getting approved is easier than ever. Money will be given to lenders and banks who use the plan to offer assistance to homeowners. This money will cover closing costs, fees, and cover some of the risks a lender takes on should they approve a struggling homeowner.

Getting yourself into a better mortgage, and saving money or your home from foreclosure, is easier than ever. Homeowners who are scared of losing their home need to use this plan for themselves. Many benefits await the homeowners who refinance, and now it is easier than ever to get.

-M Petrone
www.RefinancingCondo.com

Refinancing a mortgage can provide many benefits for a homeowner. A mortgage refinance can lower home loan payments, provide a stable, fixed rate mortgage, or help consolidate debts into a lower, single, monthly payment. Here are 3 great reasons to refinance a mortgage:

-Mortgage interest rates which are near all time lows.

-Government stimulus programs which assist millions of homeowners in getting a refinancing.

-New, streamlined mortgage refinance opportunities to help homeowners save their home from foreclosure.

Mortgage rates have rarely ever been as low as they are right now. The good news is, they are getting lower. However, they can not drop too much lower, as they are already around 4.69% for a typical refinancing. With mortgage rates this low, many homeowners can save a lot of money since rates a few years ago were over double what they are now.

The “Making Home Affordable” plan from the Government will help millions of homeowners get a more affordable mortgage. This will be done through new refinancing and home loan modification options which are available thanks to over $75 billion in funding. This plan is to combat the all time high rate of foreclosure and mortgage default in the housing market.

Many mortgage lenders and banks are doing everything they can to help homeowners. Whether that means using Government stimulus plans or not, they do not want you to lose your home. Banks and lenders have lost a lot of money, and now are looking for security. That means they are more willing to work with homeowners to ensure they have a mortgage which they can actually afford.

Refinancing can be a great thing for many people. The times are right to look into the potential a refinance has for you.

-M Petrone
www.RefinancingCondo.com

Knowing when to refinance a mortgage can be hard for homeowners. Sometimes, it can have a great impact on their finances, while other people will not benefit at all from refinancing. Mortgage refinancing should be based on a few decisions.

Some of these decisions include:

-If you are paying, or will have to pay private mortgage insurance. This can add to the costs, and monthly payment of your home loan.

-The interest rate you will be able to obtain through refinancing compared to the interest rate you pay now.

-How long you plan on living in your home.

-How much equity you have in your home, and if you want to use it for a cash out refinancing.

-The total amount of all closing costs and fees.

All of these questions need to be addressed prior to refinancing a mortgage. Getting a lower interest rate will give you lower monthly payments, or a shorter mortgage length. Both of which would save a homeowner a lot of money when refinancing.

Homeowners can easily find out whether refinancing is worth it for them by doing some simple math, and take all of the savings and costs into account. You will be able to figure out how long it will take you to recover from all of the costs, and exactly how much money you plan on saving.

Refinancing a mortgage
on a whim is not a good idea at all. Homeowners can really benefit from taking their time, and being absolutely sure why, and what they are going to expect from a home loan refinance. While every homeowner will not be able to benefit from refinancing, many will see a lot of money in savings every single month.

-M Petrone
www.RefinancingCondo.com

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