New Government mortgage bailout programs are being offered by Wells Fargo. Have a home that dropped in value? Facing foreclosure? Have financial problems? A mortgage refinancing or modification may be exactly what you need to save a lot of money, your home from being lost, or both.

Homeowners facing all types of financial problems are now able to easily get help refinancing or modifying their mortgage. This is because the stimulus program has over $75 billion dollars to give to mortgage lenders and banks who help struggling homeowners. Now, homeowners can get help even if:

-They owe up to 25% more on their mortgage than their homes market value.

-Have bad credit, a bad mortgage, or an ARM loan.

-They are facing foreclosure or defaulting on their mortgage.

-Have a home that is dropping in value.

This money is given to mortgage lenders and banks when they follow the stimulus plans guidelines and help homeowners get a modification or mortgage refinancing. With the incentive money, a lender or bank is assuming less risk, and more likely to approve more homeowners. Also, this money is given to the lenders or banks on a yearly basis, for up to 5 years, for each year a homeowner is able to make their home loan payments on time and in full.

Wells Fargo, is one of the largest, most reputable, and most respected lenders in the industry. Homeowners using them can be assured that they are working with some of the best people in the business. That is why the Obama administration has approved them, and only a few other places, to offer this stimulus program to homeowners.

Another big benefit of this plan for homeowners is that they will not have to pay any closing fees or costs. Also, professional, free, assistance is available from trained HUD representatives. The HUD website will have a listing of locations near you which can assist you finding a professional debt counselor. These counselors will also be able to act on your behalf when you are dealing with mortgage lenders or banks, and can often get you the best deal possible.

-M Petrone

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