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

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