Mortgage refinancing and home loan modification have never been easier, or more beneficial, for struggling homeowners. Would you like 2% mortgage interest rates? Need to refinance a mortgage worth more than the home? Facing financial hardships and need to save money, or your home from foreclosure? The Government bailout plan will help you.

This plan was designed to help homeowners everywhere who are facing financial hardships, and could be at risk of losing their homes. This means, millions of homeowners can use this plan for themselves, right now. With the housing market so bad, and the economy in tough shape, this plan comes at a perfect time to help a lot of homeowners.

One of the biggest parts of this plan is that a homeowner who uses it will not have a mortgage payment which is over 31% of their gross monthly income. To achieve this, mortgage lenders and banks can reduce home mortgage interest rates to as low as 2%, or extend the length of the mortgage. A combination of the two can be used to help homeowners in bad mortgages, or who owe more on the loan than the home is actually worth.

Also, with mortgage lenders and banks getting cash incentives from the Government, there is no closing costs or fees for homeowners. Besides minimizing a mortgage lenders financial risks, these Government cash incentives will cover any closing costs a homeowner would typically pay. The thought is that a homeowner who is struggling, or facing foreclosure, probably does not have thousands of dollars for closing costs. This plan also allows mortgages which exceed the homes value by up to 5% to be refinanced. Generally, these homeowners would have been out of luck getting an approval, but not with this Government bailout plan.

Homeowners all over are using this plan, and seeing savings that average hundreds of dollars per month. Their has never been a Government backed mortgage plan like this one, and if you are struggling, you need to take advantage.

-M Petrone
www.RefinancingCondo.com

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