Struggling homeowners have a reason to rejoice thanks to the Obama mortgage stimulus plan. This plan will save millions of homeowners money every month. Now, refinancing and mortgage modification are easier to get than ever before. Check here to see how to, or if, you qualify:

Here are some of the minimum eligibility requirements, and benefits, of Obamas mortgage stimulus plan:

-Homeowners can get loan modification if their home is financed by either Fannie Mae or Freddie Mac. This is automatic thanks to Obamas stimulus plan.

-Homes which have dropped by 15% or more in value can get approved for refinancing through use of this mortgage bailout plan. Before this plan, these homes would be very hard to get refinanced.

-Mortgage rates can be reduced to 2% in order to meet the monthly mortgage payment requirements laid out by Obamas stimulus plan. Also, home loan length can be extended to up to 40 years to get the payments low enough.

-Homeowners wanting to use this plan for themselves need to live in the home as their primary residence. Second, vacation, and investment properties are not eligible to benefit from this plan.

-Millions of homeowners will be able to avoid foreclosure thanks to this mortgage bailout plan from President Obama. This will mean the housing market will pick up, and the economy as a whole will improve.

Mortgage refinancing and modification are very popular right now. With this Government backed plan, a mortgage refinance can be just what millions of homeowners need to save their home. Do yourself a favor and take action today. Waiting for your problems to solve themselves, will never work.

-M Petrone

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