Bank of America is one of the nations largest, most reputable, mortgage lenders. In addition to that, they are also one of the few approved mortgage lenders authorized to offer President Obamas housing stimulus plan. This plan allows easy mortgage refinancing and modification for financially struggling homeowners. Millions of homeowners can save hundreds of dollars per month, or their home.

Bank of America has always had a good reputation with helping homeowners. Now, they are able to offer refinancing and modification options to homeowners in financial hardships easier than ever. This is because Obamas plan is backed by over $75 billion. This money will be give to select, approved, mortgage lenders and banks to help struggling homeowners. The only way for a lender to receive these incentives is to approve homeowners at risk of losing their home. With the financial risks minimized for the lender, the homeowner will have a better chance of getting approved for a home saving refinancing or mortgage modification. Also, this incentive money will cover all closing costs and associated fees. A homeowner will need to spend no money to get their mortgage modified or refinanced through Bank of America.

With this stimulus plan, a homeowner will not pay more than 31% of their gross monthly income towards their mortgage, This will be a huge savings of 20% or more for many homeowners, especially struggling ones. In order to achieve this, mortgage interest rates can be reduced down to as low as 2% and the length of the loan can be extended.

Bank of America mortgage refinancing and modification has never been easier or more beneficial for a homeowner to get. Homeowners who are facing losing their home, or who need to save money, should use this plan for themselves. Contact Bank of America today and see how they can help you.

-M Petrone
www.RefinancingCondo.com

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