Homeowners, do you need a lower monthly mortgage payment? Would you like your interest rates reduced to as low as 2%? Need to refinance a mortgage that is worth more than the home? Than read on about President Obamas “Making Home Affordable” plan and how it can help you.

Homeowners everywhere are struggling. Whether it is because of an increasing ARM loan, a decrease in property value, or with such a bad economy, just general financial hardships, homeowners are hurting. Foreclosures are at an all time high, mortgages are being defaulted on everywhere, and the market is taking a hit every time it occurs. This is why something had to be done.

President Obamas mortgage bailout plan will help homeowners refinance or get a home loan modification into an affordable monthly payment. This plan will allow homeowners to save a lot of money every month, or their home from being lost. There is over $75 billion in money to fund this bailout plan, and mortgage lenders and banks are on board with it. They will receive cash incentives every single time they help a homeowner who is struggling with their mortgage. This money will cover the homeowners closing costs, and some of the risk lenders take on approving homeowners in tough situations. This means that getting approved for a mortgage refinancing or modification has never been more beneficial, or easier, for struggling homeowners.

The “Making Home Affordable” plan has changed a lot of the rules in favor of homeowners. Things such as 20% equity, or the cash difference, are no longer needed for a mortgage refinancing or modification approval. Also, homeowners can be facing a lot more problems, have been denied before, or have no money to spend on closing costs, can get approved.

This plan will help the overall housing market, and the economy. Homeowners everywhere can easily use this plan to save their home, and a lot of money. Call your mortgage lender or bank today and ask about how you could use this plan for your benefit.

-M Petrone

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