Right now millions of homeowners can lower their monthly mortgage payments and save a lot of money, or their home from being lost to foreclosure or loan default. This is all possible because of President Obamas “Making Home Affordable” plan. Find out how this $75 billion dollar plan can help you.

This plan was needed due to the record high number of mortgage foreclosures and defaults. An estimated 1 in 8 homeowners is facing losing their home. With such a bad housing market, many homeowners feel help less. To make things worse, many homeowners have lost their job, have reduced salaries, have an ARM loan which has increased, or a home that is losing value. These problems are effecting millions of homeowners, and entire neighborhoods.

Over $75 billion dollars in cash is available so that homeowners can get approved for a refinancing or mortgage modification. The rules of this stimulus plan state that homeowner who gets help from it, will not have to pay more than 31% of their gross monthly income towards their mortgage every month. This will be done by providing cash incentives to lenders and banks who offer this plan and its options to homeowners. With this incentive money, the mortgage lender or bank will be more likely, and have their risks covered, when approving homeowners in all types of bad situations.

Mortgage refinancing and modification options are there for homeowners, regardless of their problems. With incentive money helping ease the lending restrictions, millions of homeowners can get the help they need to save their home from being lost. President Obama has provided an opportunity for a lot of people to get their finances in order, save money, and save their home. Take advantage of this plan for yourself today.

-M Petrone
www.RefinancingCondo.com

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