Ditech and GMAC have been approved to offer new stimulus plan options to help homeowners get a mortgage refinance or modification. This stimulus plan has over $75 billion in funding, all of which is to help struggling homeowners. Ditech and GMAC are now offering new options to homeowners to prevent them from losing their home, save money, or both. Here is some things you should know.

Ditech and GMAC are some of the largest, most respected, and well known lenders in the industry. Now, they can offer stimulus plans to homeowners who would have lost their home to foreclosure or mortgage default. This is possible because of cash incentives now being given to the selected few lenders and banks who are authorized to offer the stimulus plan to homeowners. Every time Ditech or GMAC approve a homeowner, they will get cash from the Government. This money enables them to take less financial risk, and help more homeowners than ever before.

Now, homeowners who have all types of financial or mortgage problems can get help. Even homeowners who:

-Have an upside down mortgage.. Now homeowners can refinance even if they owe up to 25% more than the homes actual market value.

-Are facing financial hardships and other problems. These can include loss of job, reduced income, hospital bills, or other debts.

-Have missed or been late on home loan payments.

-Who have bad credit, low or no equity in their home, and who have no money to pay for closing costs and fees.

This is all because of the mortgage bailout plan. Ditech and GMAC are eager, and now more than ever, able to help millions of homeowners. The thinking behind this program is that if a homeowner is able to make their payments, they will stay in their home, regardless of the housing market. This plan would bring a homeowners payments to less than 31% of their gross monthly income. This will be a dramatic decrease in payment amount for many homeowners, and could help them save money, or their home.

GMAC and Ditech can help you. Contact them today and see what the benefits of this stimulus plan can mean for you and your home loan.

-M Petrone

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