Homeowners, Relief is Here! President Obamas mortgage refinancing stimulus program will allow millions of homeowners to easily save a lot of money every month. Mortgage modification and refinance right now is easier, and better, than ever. Here is how to use this plan and who qualifies:

Here are some of the eligibility requirements which need to be met to take advantage of President Obamas stimulus refinance plan:

-All homes must have a mortgage that was signed on or closed on prior to January 1st 2009.

-Homes that have dropped in value since they were purchased, by up to 25%, can get approved for refinancing using this program.

-The mortgage must be for a home that is the main residence of the homeowner. This means that no vacation, investment, or rental properties are eligible for this stimulus program.

-Homeowners must be late on payments, or be able to show proof that making payments is extremely hard to do, and soon may be impossible.

These requirements are pretty minimal, and millions of homeowners will be able to use this program to save their home, a lot of money, or both. A lot of homes, and even entire neighborhoods, will be saved from this drastic measure from President Obama.

Between the low mortgage rates available in today's market, and Government programs designed to help keep interest rates low, around 4.5% for nearly all homeowners, refinancing right now is a great decision for a low of people. If you have thought about mortgage refinance but have not done anything about it, look into it now. Odds are that if you are struggling to make your mortgage payments, or have missed a few, you will be able to get the help you need.

-M Petrone

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