President Obama has recently announced a wide reaching stimulus plan designed to assist homeowners get mortgage refinancing or modify their loan to prevent foreclosure. Millions of homeowners can use this plan for themselves, and get a better home loan, and save money.

This plan is in response to the massive amount of struggling homeowners, and the record foreclosure rate. Entire neighborhoods are being ravaged by the bad economy, and this stimulus plan offers hope for individuals, and entire communities.

The “Making Home Affordable” plan helps homeowners in 2 different ways:

-The “Making Home Affordable Mortgage Modification” program will help the millions of homeowners already late or behind on their mortgage payments. Also, this plan will provide help to homeowners facing financial hardships and problems.

-The “Making Home Affordable Mortgage Refinance” plan will help a lot of homeowners take advantage of near historic low mortgage interest rates, even if they owe more on their mortgage than the homes market value.

Both of these options enable literally millions of homeowners a chance to save hundreds of dollars every single month on their home loan. Right now, with the housing market in such bad shape, homeowners need all the help they can get.

This program makes getting the approval, which so many homeowners fear, easier than ever too. All kinds of financial situations and hardships are covered with this plan, leaving little or no excuses for a homeowner to have to lose their home to foreclosure. With people with little money specifically in mind, there are a lot of new refinancing and home loan option modification options for homeowners to take advantage of.

-M Petrone

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