Many homeowners are at risk of losing their home to foreclosure. Luckily, there are new Government programs which allow homeowners to have a chance at saving their home. These programs are based upon a homeowner either refinancing or getting a mortgage modification into a better, more affordable monthly payment. The best news is that doing this is now easier for millions of homeowners because of the Government stimulus programs.

These Government programs are designed to help homeowners facing financial, mortgage, or other problems. Millions of homeowners are eligible to use these programs for themselves and save money, or their home. Over $75 billion has been dedicated to help homeowners. This money will be used as a cash incentive and given to mortgage lenders and banks who approve struggling homeowners. This money will cover potential financial risks, and allow lenders and banks to approve more homeowners in bad situations. Also, since this money is only given when lender or banks follow the programs guidelines for helping homeowners, people will truly be able to get approved, and save their home, by refinancing or getting a home loan modification.

Homeowners will now be able to more easily get approval for refinance or mortgage modification even if they:

-Owe up to 25% more on the mortgage than the homes actual market value.

-Have bad credit or are facing financial hardships. Some of these hardships include, hospital bills, upside down mortgages, loss of a job or reduced income, and many other things.

-Have missed or been late on a few mortgage payments.

-Are already in the foreclosure process.

-Have bad credit or a large number of other debts.

Right now, foreclosures are at an all time high. With such a bad housing market, mortgage lenders and banks are more likely to help homeowners get an affordable payment than to refuse them help. Foreclosure is not a source of profits as it once was, and lenders and banks will try to help you prevent it with mortgage refinance and modification options. Many homeowners are feeling the effects of the bad housing market and economy. This plan will help many people, and the overall economy.

Millions of homeowners are eligible to get the help they need to save their home from being lost. Getting the help you need is easier than it ever has been before. Mortgage refinancing or modification with this stimulus plan will prevent mortgage foreclosure, and help a lot of peoples financial futures.

-M Petrone

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