Mortgage refinancing and modification are easier than ever to get approved for. Even people facing financial problems, bad mortgages, dropping home values, and other debts can get the help they need to get a mortgage refinancing or modification. Using this plan is easy, and millions of homeowners are eligible. Here is how to use this plan for your home loan:

Only approved mortgage lenders and banks can offer the “Making Home Affordable” plan to homeowners. The benefits of this plan include:

-The new home loan payment every month will not be more than 31% of a homeowners gross monthly income.
-No closing costs or fees.
-Mortgage rates reduced to 2%.
-Mortgages extended in length.
-Easy approval for homeowners in all types of bad financial situations.

For example, getting approved for refinancing or modification of a mortgage before this plan while having any financial problems or mortgage issues would be nearly impossible. Now though, many homeowners can get help they need, easier than ever.

The mortgage refinancing and modification requirements and and restrictions have been eased so that more homeowners can get help. This is possible because of over $75 billion in funding to help struggling homeowners. This money will be given to mortgage lenders and banks who help homeowners in accordance with this stimulus plans outline. This money makes the financial risk of approving a struggling homeowner less, and enables lenders and banks to approve more homeowners. Also, more money will be given to every bank or lender who helped a homeowner with this plan, for every year the homeowner is able to pay their mortgage, for up to 5 years. This makes getting a beneficial long term mortgage refinancing or modification easier than ever.

Obamas “Making Home Affordable” plan will help many homeowners. Take the help being offered and save your home or a whole lot of money.

-M Petrone

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