President Obama knows that millions of homeowners are hurting. Many individuals, and entire neighborhoods are being devastated by foreclosures, dropping home prices, and other economic problems. This new stimulus plan from Obama will allow millions of homeowners the chance to get a better, more affordable mortgage through refinancing or modification.

A stimulus plan like this has never existed for homeowners before. This is truly a once in a lifetime chance to really help your finances, and your financial future. Homeowners who would have been denied before, are now easily able to get the help they need to save their home, or a whole lot of money. Any homeowner who is facing financial problems of any kind, needs to use this plan to turn their situation around.

New plans for homeowners include:

-Allowing homeowners the chance to get a refinancing or mortgage modification even if they owe up to 5% more than the homes value. This would have been extremely hard for a homeowner to get prior to this plan existed.

-Now, all homeowners with a mortgage from Freddie Mac or Fannie Mae are automatically able to get a home loan modification. This modification will limit the amount a homeowner has to pay towards their monthly mortgage. With this new stimulus, the home loan payment every month can not exceed 31% of a homeowners gross monthly income.

-Homeowners with financial problems, are also eligible to qualify for a great refinancing or mortgage modification opportunity. This includes homeowners who have lost a job, have a reduced income, or are facing other financial problems. All a homeowner has to do is write a letter stating their problems, and potential solutions, and include it with their application.

Mortgage refinancing and modification
are easier to get than ever before. Even for homeowners who are convinced they will not be able to get the help they need.

-M Petrone
www.RefinancingCondo.com

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