Millions of homeowners are now able to refinance their home mortgage using the Federal Governments Economic Stimulus Act of 2009. This economic stimulus plan helps homeowners qualify for mortgage refinancing by increasing the loan limits in areas of the country which have home values that are higher than average.

This means millions of homeowners are able to refinance their mortgage into a lower monthly payment, shorten the length of the home loan, extend the length of the loan, or get a cash out refinance to pay off large debts or emergency bills, while at the same time being able to take advantage of the benefits that were previously only available on smaller loans such as:

-More affordable interest rates
-Easier homeowner income terms and qualifications
-No prepayment or early pay fees on the mortgage
-Very flexible and credit requirements

However, you must act fast to take advantage of this chance to refinance your home mortgage with government assistance. The benefits mentioned above are only temporary and mainly cover mortgages that were approved on or before December 31, 2008. Refinancing now also takes advantage of the near record lows across the country available to homeowners. Refinancing the right way will save a homeowner hundreds of dollars per month.

-M Petrone
www.RefinancingCondo.com

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