With mortgage rates are near all time lows, and President Obamas “Making Home Affordable” plan in full swing, getting an affordable mortgage is easier than ever. Mortgage refinancing and new modification options now exist for almost any homeowner, regardless of their financial situation. Here is how it works.

Right now, mortgage lenders and banks are getting cash incentives to help homeowners. The money comes from over $75 billion which has been put aside for the “Making Home Affordable” plan. This money enables lenders and banks to approve more homeowners than they ever would have been able to before. This money acts like a insurance policy for the lender or bank because they only get the money by approving homeowners at risk of losing their home. That means that with less financial risk, and more incentive, getting a lower, more affordable, monthly home loan is easier than ever.

Homeowners who are about to lose their home to foreclosure, would have been pretty much out of luck trying to get help before this plan existed. Now though, there are a wide variety of new home loan refinancing and modification options for all homeowners. With so many foreclosures happening, so many homeowners in a bad mortgage, and so many homes dropping in value, this plan will help millions of homeowners.

If you are in a mortgage which you can barely afford or are facing financial problems, you should use this mortgage refinancing and modification plan for yourself. Getting the help you need is easy, and could be just what you need to avoid losing your home.

-M Petrone

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