Do you want a 2% mortgage rate? Want to save hundreds of dollars per month on your home loan? Need refinancing but think you wont qualify? Then President Obamas housing stimulus plan is perfect for you. This program will even pay all of the closing costs. Here is how:

Since homeowners everywhere are having a hard time paying their home loans, and foreclosures and mortgage defaults are at an all time high, this plan had to be passed. This Government mortgage bailout program is funded with over $75 billion. This money will be used and given to mortgage lenders and banks to approve struggling homeowners, and cover closing costs. Homeowners who have been denied before, have bad credit, owe more on the mortgage than the homes worth, or who are facing other financial hardships, can easily get approved. Before this plan, these cash strapped homeowners would have a very hard time getting approved for a refinancing which would actually save them money. Now though things have changed, and got the benefit of millions of homeowners.

These are some of the most helpful parts of President Obamas stimulus plan for homeowners:

-Mortgage refinancing is available to millions of homeowners who are at risk of losing their home. The closing costs and fees will be covered by the money that funds this plan.

-Credit counseling and mortgage advice is available free to all homeowners through their local HUD office. These counselors can act on your behalf when dealing with mortgage lenders and banks and get your the best deal possible.

-Mortgage rates can be reduced to as little as 2% to help homeowners reestablish their finances.

-The length of home loans can also be extended to meet the requirements of Obamas plan.

Overall, this plan will, and already is, helping homeowners. Get yourself into a better situation and take advantage of this plan for yourself.

-M Petrone

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