Get an affordable mortgage with the “Making Home Affordable” program from President Obama. This is a mortgage stimulus plan designed to help homeowners who can not afford their home loan. With this plan, getting a refinance or mortgage modification is easy, and can help save homes from foreclosure, or help homeowners some money.

This is a $75 billion mortgage bailout plan to combat the record number of foreclosures and mortgage defaults wrecking the economy. Right now, 1 out of 8 homeowners is at risk of losing their home, but this plan will help. Over 8 million homeowners can use this plan for themselves, and get a better, more affordable mortgage payment every month.

Mortgages which are refinanced or modified using this plan can not be more than 31% of a homeowners gross monthly income. To accomplish this, loans can be extended in length, or interest rates can be lowered to as low as 2%. Mortgage lenders and banks who help homeowners using this plans guidelines will receive money from the Government for every homeowner they help. Also, every year a homeowner is able to pay their mortgage, for up to 5 years, the lender or bank who helped them will receive additional money. This will encourage banks and mortgage lenders to offer truly beneficial mortgage refinancing and modification options to homeowners who are struggling.

These mortgage refinancing and modification options are amazingly helpful to many people. So many homeowners are going to lose their home unless they take action. This plan gives homeowners a real chance to save their home, and get an affordable mortgage. Homeowners can easily use this plan and put themselves into a better financial situation. Take advantage now, and see the savings start.

-M Petrone

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