Do you owe more than your home is worth? Have financial problems and want to refinance into a lower monthly mortgage payment? Been denied a refinance in the past? Do not panic. New Government stimulus programs are in place to help. This stimulus program has over $75 billion in funding and can help over 8 million homeowners. Here are some things you should know.

Right now foreclosures and mortgage defaults are at all time highs. Also, the housing market is in terrible shape. This means that many lenders and banks are willing to help homeowners so that they do not have to deal with another foreclosure. Also, the Government stimulus programs will give cash to lenders or banks who help homeowners. This money is an incentive to take the risk, and approve a homeowner for refinancing or mortgage modification into an affordable monthly payment. With this incentive money, the lenders and banks are risking less financially and able to approve even more homeowners than they would have been able to.

All types of financial hardships and mortgage problems are not going to stop a homeowner from getting a mortgage refinance or modification approval. Now, a homeowner can owe more than the home is worth in the market, and still get approval for refinancing. Even homeowners with financial hardships like loss of job, hospital bills, a bad mortgage, or other debts, will find it much easier to get help with refinancing or mortgage modification. This means that millions of homeowners, who would not have gotten help with their home loan in the past, will not find it much easier to get approved for help.

Homeowners all across the country are encouraged to take action, and get into a better, more affordable, mortgage. Use this stimulus plan for yourself, save a lot of money, your home from being lost, or both.

-M Petrone

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