Homeowners all over the country are having a hard time paying their home loan every month. Many homeowners are facing financial problems, loss of job, and all sorts of bad things. However, homeowners who are hurting do have a chance to get back on their feet. A new mortgage refinancing plan from President Obama allows mass refinancing for millions of homeowners.

This plan will surely help a lot of people avoid foreclosure, or losing their home. Many homeowners feel helpless, and are seriously at risk of losing their home. A home is the most expensive thing a person will usually ever own, and you do not want to lose it. This plan has eased mortgage lenders and banks restrictions on who is eligible for refinancing. That means, that homeowners who fear a denial, can get the approval they need to keep them in their home. This is all backed by over $75 billion in Government funds. Most of which will be given to lenders and banks to lower the risks of approving struggling homeowners. Also, this money is used to cover all closing costs and fees a homeowner typically pays when refinancing a mortgage.

While this plan is in effect, homeowners are able to:

-Get interest rates lowered to 2%.

-Refinance a mortgage that is worth more than the home.

-Extend their home loan length, reducing the monthly payments due.

Millions of homeowners can use this plan for themselves and get into a better financial situation. Before this plan, a lot of the hurting homeowners would have not been able to get assistance with their home loan. Now though, mortgage lenders and banks offer a wide variety of options for the homeowners who use this stimulus plan.

Use this plan for yourself today, and see the savings start adding up on your next home loan payment.

-M Petrone

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