Take advantage of low interest rates, Government programs, and the housing market and refinance your mortgage. Right now is a great time for millions of homeowners to get a mortgage refinancing. Why? Well because the interest rates, timing, and housing market say so.

I say this because right now everyone knows that the housing market, and overall economy, are going through hard times. However, that is why refinancing a home loan right now is a great decision for a lot of people. Mortgage rates are near record lows, and new programs from the Obama administration allow for easier home loan refinancing for all types of struggling homeowners. Also, with the housing market so bad, foreclosures are at an all time high. This means mortgage lenders and banks are more willing to help a homeowner than deal with another foreclosure.

With the housing market in the shape it is in, lenders and banks do not want to take the risk of not profiting on a foreclosed home. They would much rather take a sure smaller profit, and refinance your home loan into a more affordable rate, than risk it. This means that many lenders and banks have eased their restrictions on who can get approved for refinancing.

Also, new Government programs are aimed directly at struggling homeowners. These programs will give money to lender and banks who use their guidelines and help homeowners. These mortgage refinancing stimulus programs help ensure a homeowner gets a truly affordable mortgage, which will not hurt them in the long run. Many lenders and banks are offering this stimulus program to homeowners, and they are happy to do so.

This is why mortgage refinancing right now is a pretty good idea for many homeowners. Although it is not the answer for everyone, a lot of people can easily take advantage of the conditions and get a better mortgage. While it may not have seemed like it, I hope homeowners truly realize what a great chance this is for them to benefit from this financial mess that has so many people in trouble.

-M Petrone

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