Over 5 million homeowners will be able to refinance their home loan into a fixed rate 2% mortgage thanks to President Obamas housing stimulus plan. This stimulus will make it easier for homeowners to modify or refinance their current home loan and see big savings every month.

Here, I have listed some critical points of the Obama housing stimulus plan:

*Property values in some parts of the country have dropped by as much as 15% due to the housing crisis and this stimulus helps homeowners facing that very problem, get a refinance.

*Make mortgage refinancing or modification easier for all current and future homeowners.

*Have a set limit on mortgage rates and to cap them off at an ideal 2%.

*Provide no help or assistance to market speculators and people who profit on the downfall of the economy.

*To prevent foreclosures and mortgage defaults by helping current homeowners refinance their existing loan into a stable fixed 2% rate loan.

With times being tough right now for millions of homeowners, this stimulus plan plans to try and assist those homeowners who have been struggling to pay their mortgage and other bills, which have all seemed to increase, at the same time. This chance for homeowners to refinance into a fixed 2% mortgage will almost instantly raise home prices as less homes are foreclosed on and more are bought due to an increased level of confidence. Take advantage of this plan from Obama now and see if their are potential savings for you to take advantage of.

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