Right now millions of homeowners can save their homes, a lot of money, or both, thanks to President Obamas mortgage bailout plan. This plan can help homeowners get a 2% interest rate, or change the terms, conditions, or length of a home loan. Homeowners are encouraged to use this plan for themselves, and qualifying is easy.

With such a bad housing market and economy, something needed to be done to try to help the millions of homeowners who are going to lose their home. President Obama has announced his “Making Home Affordable” plan which is a $75 billion stimulus for homeowners. This plan will allow many people to save their home by getting refinancing or mortgage modification into an affordable monthly payment.

The money from the stimulus program will be given to a few selected banks and lenders who have been approved to offer the programs options to homeowners. With this money being given as an incentive, many lenders and banks have eased their refinancing and mortgage modification restrictions. Also, by following the programs guidelines, homeowners may be able to receive interest rates as low as 2%, a change in the terms or conditions of the home loan, or a change in the length of time to repay the mortgage. Also, once a homeowner begins to enter either refinancing or modification, any pending foreclosures will be halted. This program will also allow homeowners who have missed mortgage payments to repay them over the course of a fixed amount of time, which will help homeowners keep their home.

Mortgage refinancing and modification have always been popular options for homeowners at risk of losing their home. Now though, with mortgage rates being near all time lows, and Government stimulus programs which make getting approved easier, refinancing and modification are more popular than ever before. Do not be a victim to the bad economy, housing market, or a bad mortgage. The help you need to save your home is available. Take advantage of this stimulus program, and secure your financial future.

-M Petrone
http://www.RefinancingCondo.com

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