Mortgage refinancing and modification just got a lot easier for millions of homeowners. That is because of President Obamas “Making Home Affordable” plan. This plan offers new refinancing options, that did not exist before, and are now available to struggling homeowners. Getting a better, more affordable mortgage with this plan is easy.

Homeowners everywhere can get interest rates as low as 2%, or there loans extended. Both of these things would reduce your home loan payment every month, let alone both a combination of the two. More importantly though, this plan makes is easy for a homeowner to qualify for help. This will help homeowners avoid foreclosure, and save money every single month. Right now, many homeowners are at risk of foreclosure, but they do not have to be.

This plan provides money to mortgage lenders and banks who offer assistance to struggling homeowners. That means, every time a homeowner is approved for assistance from this stimulus plan, the bank or lender who approved them gets money too. This money is used to cover all closing costs, and other fees, which would have cost a homeowner thousands of dollars. This is all because of Obamas plan. It is in the best interest of mortgage lenders and banks to offer you the best deal possible. This way they ensure you do not face losing your home again, and they get as much money as they can from the stimulus plan.

Many homeowners need to take advantage of this mortgage refinance plan to avoid losing their home. A lot more people can use this program to get a lower monthly payment, or modify their loan so that it is more affordable. Many new options are available to homeowners, and you should take advantage of them.

-M Petrone

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