Mortgage interest rates have remained low throughout 2009. This was due to a bad housing market, bad economy, and stimulus programs launched by the Obama administration. Many homeowners have taken advantage and refinanced their mortgage. However, I think in 2010 things will change and mortgage rates will rise.

Right now, mortgage interest rates are very low due to Government interference, a bad economy, and a bad housing market. In an effort to help homeowners the Obama stimulus program also contributes to the low interest rates. This has led to many homeowners looking to refinance a mortgage in 2009.

While I do not predict that interest rates will dramatically increase, I do think they will rise by about 1.5% in 2010. While many homeowners will still be able to benefit from refinancing a mortgage, some people will lose the benefits of it due to the slight interest rate increase. I think we have seen the bottoming out of the housing market, and throughout 2010, both the economy, and housing market will recover. While the recovery may be slow, it will be positive progress.

As the market and economy improve, so will homeowners situations. Many homeowners will see the their homes equity value rise, or the value of their property and home go up. This will lead to a slight increase in interest rates due to less of a need to assist struggling homeowners avoid losing their home. Also, by the time interest rates rise in 2010, many homeowners would have already gotten a refinancing, or by this time have lost their home.

Mortgage lenders and banks will not be as hurting in 2010 as they were in 2009. This means that they will be more selective when approving homeowners for refinancing. Throughout 2009, nearly any homeowner could find financial relief through refinancing a mortgage. While many people can still benefit from refinancing in 2010, it will come at more of a cost. Right now an average 30 year fixed rate mortgage has an interest rate of around 5%. I predict that in 2010, interest rates for the same mortgage type will rise to around 6.5%. This is still much lower than many people pay, yet high enough of an increase to make refinancing a mortgage not so beneficial.

Homeowners who need to get a mortgage refinance should take action now. The longer you wait, the worse your situation will be and there is also a potential mortgage rates will rise, as I predict. Contact a mortgage lender or bank and ask about your mortgage refinancing options.

-M Petrone
http://www.RefinancingCondo.com

A lot of people are looking for a way to save money every month. With interest rates so low, many homeowners are looking into refinancing a mortgage. However, around 1 out of every 3 homeowners will be denied. Here are some common problems homeowners face when they attempt to refinance a mortgage.

While refinancing is a great move for many homeowners, there are some hurdles that must be overcome before getting approved.

-Upside Down Mortgages
Many homeowners actually owe more on their mortgage than the homes market value. This is caused by a bad housing market, and an increase in foreclosures and loan defaults. Typically, a homeowner needs to have at least a 20% equity stake in their home to get approved for a traditional mortgage refinancing.

-Bad Credit and a Bad Mortgage Repayment History
While getting approved for refinancing with bad credit is not impossible, it is hard to do. Also, the benefits of getting a low interest rate are often negated by the additional costs and fees a homeowner must pay when refinancing with bad credit. Even more important than the credit rating though is the mortgage repayment history. If you have continued to make your home loan payments, yet have bad credit, this at least shows the mortgage lender or bank where your priorities are. This leads them to believe that even with bad credit, your home loan will be paid every month. Which in turn leads to a better chance of your getting approved for a mortgage refinancing.

-The Costs of Refinancing
Many homeowners are unaware that the cost of refinancing a mortgage can easily be thousands of dollars. In most cases, this money needs to be paid upfront before signing the actual mortgage refinancing deal. Sometimes, though it is not recommended, the costs and fees of refinancing can be rolled into the home loans total amount. While this is the only way for some people to get approved, it will also increase the amount you pay every month for the course of the home loan. It is best to pay all, or as much as possible of the costs and fees before signing a refinancing deal.

Even with some of these problems that homeowners must overcome, refinancing a mortgage can be a great decision. While every persons situation will be different, these are the typical problems that homeowners face when refinancing. Knowing about and preparing for these problems will increase the chances of your getting approved, and help you get the best deal possible.

-M Petrone
http://www.RefinancingCondo.com

Right now, many homeowners are considering refinancing their mortgage. Currently, interest rates are low and mortgage lenders and banks are eager to help homeowners avoid losing their home. However, homeowners should be aware of the costs of refinancing a mortgage. Here are some of the most common costs and expenses when refinancing a home loan.

Many times, homeowners are surprised at how much money refinancing a mortgage can cost. They are not aware of closing costs, private home insurance, mortgage prepayment penalties, points that need to be paid up front, and other fees. Sometimes, these fees and costs can outweigh the benefits of refinancing. Here are some common costs and fees you should be aware of prior to signing any mortgage refinancing agreement.

-Home Loan Origination Fees and Costs
This fee is paid for the work that the mortgage lender or bank does when they evaluate and for preparing your mortgage refinancing application. Typically, this fee equals around 1% of the total loan amount.

-Mortgage Prepayment Penalties
Many homeowners, without even knowing it, have a clause in their home loan that states if it is paid off early, there is a penalty. This means that when refinancing a mortgage, you will need to pay the mortgage prepayment penalty. You can easily find out if, and how much, this penalty is by examining your current mortgage documents.

-Home Appraisal Fees
Many times when refinancing mortgage lenders and banks require a recent appraisal of your home. This is to help them evaluate the homes value, and potential. This is yet another cost that may need to be paid by the homeowner prior to getting a mortgage refinancing. This can cost between $200 and $300 dollars.

-Prepaid Points for your Home Loan
When a homeowner prepays for points on their home loan in order to lower the interest rate. One point equals 1% of the entire home loan amount. While this will reduce the interest rate you get, it is required to be paid upfront. The amount of points that need to be paid is different from person to person and depending on the housing market.

In general, homeowners should expect to pay around 5% of the total loan amount when they refinance. While this number is different depending on the situation, it is a good general estimate. Always know the exact amount that is required to pay prior to signing any refinancing agreement. Sometimes, in order to save some money, a homeowner may want to check with their current home loan provider and see what options exist. Many times, a homeowner is able to get a better deal from their current mortgage lender or bank than from a competing one.

-M Petrone
http://www.RefinancingCondo.com

Wells Fargo is able to offer homeowners new mortgage refinancing options thanks to President Obamas stimulus plan. This stimulus plan is designed to help homeowners in all types of bad financial situations by getting them into a more affordable monthly mortgage payment. This will be done through new refinance options available from Wells Fargo and Obamas stimulus plan. Here is how to take advantage of Obamas stimulus plan with Wells Fargo.

Only a few choice mortgage lenders and banks have been allowed to offer refinancing options from Obamas stimulus plan and Wells Fargo is one of them. Every time a selected mortgage lender or bank offers a refinancing option that is in accordance with Obamas housing stimulus plan, they receive cash incentives to do so. With the incentives, more homeowners are able to get help refinancing than ever before. Even people who up to 25% more than their home is worth, have lost a job, have bad credit, or are facing other financial hardships will find it much easier to get help refinancing a mortgage.

While getting help refinancing in tough financial situations was always possible, it typically was very costly and hard to get approved for. Now though, with Obamas stimulus plan in place, many people can save their home, save money, or both. Obamas plan is based on the belief that if a homeowner is able to make there monthly home loan payments, they will. That is why a major requirement in Obamas plan that homeowners benefit from is that after refinancing a mortgage the payment will not be more than 31% of your gross monthly income. This will be a huge reduction in payments for many people, and can help reduce the high number of foreclosures and mortgage defaults.

Homeowners facing problems with paying their mortgage every month should contact Wells Fargo today and see what options exist from Obamas stimulus plan. Odds are that you will be able to find the help you need to secure your homes future, and your finances. Take action now and refinance a mortgage with Wells Fargo.

-M Petrone
http://www.RefinancingCondo.com

Bad credit mortgage refinancing options now exist for millions of homeowners. This is all because of the $75 billion stimulus plan President Obama has enacted to help struggling homeowners. This money makes refinancing a mortgage easier to do for homeowners with bad credit, upside down mortgages, or other financial problems. Here is how you can use this stimulus plan for yourself and refinance a mortgage.

Since the housing market and economy are in such bad shape, many homeowners are struggling to make their home loan payments. However, many homeowners are losing their home as right now the rate of foreclosures and mortgage defaults is at an all time high. That is why President Obama enacted his stimulus program for struggling homeowners.

This program provides cash incentives to mortgage lenders and banks who offer and approve homeowners in accordance with the stimulus plan. This money makes refinancing easier for homeowners who would have had a hard, if not impossible, time finding a beneficial mortgage refinancing deal. This money enables mortgage lenders and banks to take on less risk, and approve more homeowners than they have ever been able to before.

This program is designed to get homeowners into an affordable monthly mortgage that does not exceed 31% of their gross monthly income. The thought is that no matter what else is going on, if a homeowner can make their monthly payments, they will. This plan will reduce the number of foreclosures and mortgage defaults while at the same time help million of homeowners who need to refinance a mortgage to prevent their home from being lost. Even homeowners with bad credit, financial hardships, an upside down mortgage, or other problems will find it easy to use this stimulus plan to get a mortgage refinancing.

Homeowners need to take action now and take advantage of low mortgage interest rates and Government stimulus programs. Getting help refinancing a mortgage, regardless of your financial position, has never been easier. Take action now and get help.

-M Petrone
http://www.RefinancingCondo.com

Mortgage interest rates are currently near all time lows due to a bad housing market and a struggling economy. Many homeowners are refinancing a mortgage now to take advantage of low rates and Government stimulus programs. However, I predict that things will change in 2010 and interest rates will go up. Here are my mortgage rate predictions for 2010, and how I made them.

Currently, a typical 30 year fixed rate mortgage can be had for around 5%. This is much lower than many homeowners are paying for their home loan. This has led to a massive rush of refinancing applications from homeowners looking to take advantage. Also, new Government stimulus programs have been keeping interest rates low and offering struggling homeowners a refinancing option to save money, their home, or both. While it sounds bad, the struggling economy and housing market are actually benefits for many struggling homeowners. That is because as a result, interest rates have dropped, and Government stimulus programs make getting approved for refinancing easier than ever.

With money being pumped into the housing market and banks to keep interest rates low, I predict that things will change in 2010. While interest rates in 2010 will still be very low, I predict that they will rise by 1.5%. This means that a typical 30 year home loan would have an interest rate of 6.5%. While this is still a very low rate, the interest rate increase will be enough to make refinancing a bad option for some homeowners. However, many people will still benefit from refinancing, even with a 1.5% rate increase.

I think that the housing market has seen its worse days, and things will start to improve in 2010. While the rate of improvement may be slow, it will be better. This will lead to interest rate increases and less impact from Obamas stimulus programs. While refinancing may still be a good thing for many, some will realize that with the interest rate increase, the benefits of refinancing are little to none.

Homeowners should take action now and refinance a mortgage before rates increase. Getting approved for a mortgage refinancing right now is easier than ever before. Take advantage of the low interest rates and Government programs and improve your finances, save money, or save your home.

-M Petrone
http://www.RefinancingCondo.com

Mortgage rates are currently near record lows. Combine that with new mortgage refinancing options available from Obamas stimulus plan and millions of people can benefit from refinancing a mortgage. Here is some advice for homeowners looking to refinance a home loan with Obamas stimulus program.

President Obamas stimulus plan is backed by over $75 billion in funding. This money makes getting help refinancing a mortgage in all types of financial problems easier than ever before. This money is going to be given to selected mortgage lenders and banks who follow Obamas guidelines and approve homeowners for a mortgage refinancing. The money enables mortgage lenders and banks to take more risk and approve more homeowners than ever before.

Never before has such a massive program been enabled that can help so many people. The goal of this stimulus program is to get homeowners an affordable monthly mortgage payment. The stimulus plan calls for a homeowner to not have to pay more than 31% of their gross monthly income to their mortgage payment. The thought behind this stimulus plan is that if a homeowner can actually make their payments, they will, and avoid foreclosure and defaulting on their mortgage.

Homeowners with bad credit, an upside down mortgage, or other financial problems can now easily get help refinancing a home loan. Even homeowners who have been turned down in the past can get help from Obamas stimulus plan. Homeowners all across the country can benefit from this program, save money, secure their future finances, or save their home from being lost.

Do not let your home be lost. Take action now and use President Obamas stimulus program for yourself and save money. Contact a mortgage lender or bank and ask about how you can benefit from refinancing a mortgage with Obamas stimulus program.

-M Petrone
http://www.RefinancingCondo.com

Mortgage refinancing is a great move for many homeowners. With interest rates near record lows and new Government programs in effect, getting help refinancing a mortgage is easier than ever. Even struggling homeowners and those with financial issues can find help. Here is some advice for homeowners looking to refinance a mortgage with Obamas stimulus plan into the low mortgage interest rates available today.

Mortgage refinancing in the past was pretty much only beneficial for homeowners with good credit and a good repayment history. However, with the economy and housing market in bad shape, homeowners needed help. That is why the Obama administration has launched the “Home Affordability” stimulus program.

This stimulus program is designed to help struggling homeowners avoid losing their home, get better interest rates, and save money. Millions of homeowners are in a bad financial situation and are at risk of losing their home. This plans designed to help struggling homeowners and offer them refinancing options which were not available before.

This program provides cash incentives to mortgage lenders and banks who offer refinancing options to homeowners in accordance with Obamas stimulus. This means that the lenders and banks are more willing to help struggling homeowners, and people who would not have gotten help before. Never before has such a plan been in place to help so many homeowners find relief and help them secure their financial future.

Homeowners who are struggling to make their mortgage payments or who have missed some should take action now. Refinancing a mortgage with Obamas stimulus plan is easy. Get the help you need to save money, your home, or both and refinance.

-M Petrone
http://www.RefinancingCondo.com

Even with record low mortgage interest rates, a lot of homeowners are having a hard time refinancing due to being underwater with their home loan or because of self employment. Even with a good credit score and mortgage repayment history, many people are not able to take advantage of the low interest rates and get approved for refinancing. Here are some reasons why homeowners are being denied refinancing options.

Many homeowners are being denied a mortgage refinancing option due to many different factors. However, some things are a constant and pretty much the same for everyone:

-The housing market has been hurt by foreclosures, loan defaults, and short sales. This has led to home values dropping which leaves homeowners holding the bag on a mortgage that is worth more than their home is in the open market.

-As a result of the housing meltdown, many mortgage lenders and banks have much harder to qualify for mortgage refinancing requirements and have much stricter loan underwriting requirements.

-Many homeowners who are self employed are having issues with new income rules and being able to verify a steady income.

While many mortgage lenders and banks are reporting up to a 50% increase in mortgage refinancing applications, but an estimated 1 out of every 3 homeowners who apply for refinancing are not going to be able to get it. In the past, an average of 1 in 5 homeowners would not be able to get low interest rates, a lot more people than are able to get them now.

Homeowners are having problems, even if they have an amazing credit history, and have never missed a mortgage payment. Since so many income verifications are now needed to get refinancing, many self employed people have a hard time when they are required to state their income. That is due to having no signs of income on tax returns, many of which are in businesses names. Also, many homeowners are being hit with the reality that their home has dropped a lot in value. When an appraisal happened before refinancing, people are often shocked to find out that their home has dropped in value. Many times, the neighborhood makes homes drop in price. If foreclosures and short sales are taking place around your home, you can be sure that they are driving down the values around them.

While mortgage refinancings are actually happening for many people, a lot of homeowners still need help. Somewhere around 20% of all homes are underwater when it comes to the mortgage, and they are going to have a hard time getting a truly beneficial mortgage refinancing deal.

The best thing homeowners can do is be vigilant, on top of their paperwork, and keep researching potential mortgage lenders, banks, and mortgage refinancing options.

-M Petrone
http://www.RefinancingCondo.com

Ditech is taking part in President Obamas housing stimulus plan and now offering mortgage refinancing options to all types of homeowners. This means homeowners with financial problems or issues with their mortgage will find it easier than ever finding help refinancing a mortgage. Here are some things to know when using President Obamas plan and Ditech to get a mortgage refinancing.

Ditech, like a few other selected mortgage lenders and banks, gets cash incentives every time they offer a struggling homeowner a refinancing option that is in accordance with President Obamas stimulus. This means that they are taking on less financial risk and are able to help even more homeowners in even worse problems. This is helping the housing market, economy, and millions of homeowners.

When the Obama mortgage stimulus program was started the goal was to reduce foreclosures and mortgage defaults. In order to do this, the Government kept interest rates low, and made getting approved for a refinancing or mortgage modification easier than ever, for all homeowners. Since so many people were in bad financial shape, this program is designed to help them. Many homeowners owe more than their home is worth, have lost a job, or are facing other financial hardships. In order to help people save their homes, monthly mortgage payments needed to be at an affordable level. That is why a big benefit for homeowners refinancing with Obamas stimulus is that their home loan payments every month will not be more than 31% of their gross monthly income. This payment amount includes taxes, insurance, and other home costs. This will be a dramatic decrease in payment amounts for many people and may be just what they need to get their finances together, and save their home from being lost.

While Ditech has always been helping homeowners with refinancing options, they are now able to do more than ever before. Homeowners need to take advantage of Obamas stimulus program and contact Ditech about refinancing a mortgage today.

-M Petrone
http://www.RefinancingCondo.com

New mortgage refinancing and modification options now exist for millions of struggling homeowners thanks to President Obamas stimulus plan. This $75 billion program offers struggling homeowners new mortgage refinancing and modification options that did not exist before. This plan is designed to help struggling homeowners save money, save their home from being lost, or both. Here are some things to know about refinancing a mortgage with Obamas stimulus plan.

Every homeowners situation is different, but here are some of the biggest benefits refinancing or mortgage modification with President Obamas stimulus plan provides:

-Monthly home loan payments that, including tax, insurance, and other costs, does not cost more than 31% of their gross monthly income.

-There will be no closing costs or other fees for modification or mortgage refinance using this program. This is a savings of thousands of dollars.

-Homeowners with financial hardships can easily find the help they need to refinance a home loan.

-Home loan interest rates can be reduced to as little as 2% to help lower payments to an affordable level.

Right now, the economy and housing markets are in bad shape. This has left many people with homes that have dropped in value, and other financial problems. In order to decrease the all time high amount of foreclosures and mortgage defaults, homeowners needed help. That is why President Obamas stimulus program is in place.

This program provides funding and cash incentives to mortgage lenders and banks who follow the stimulus rules and offer help to homeowners. This means that getting help refinancing a mortgage right now is easier than it has ever been before, regardless of your financial position.

Get the help you need now before your situation gets worse. Refinancing a mortgage is a great way for many people to improve their financial future, save money, save their home, or all three. Take action now before things get worse for you.

-M Petrone
http://www.RefinancingCondo.com

Mortgage refinancing with Bank of America is easier than ever for millions of homeowners thanks to President Obamas “Home Affordability” stimulus plan. The Obama administration has chosen a few selected mortgage lenders and banks to offer this program to homeowners and Bank of America is one of them. Now, mortgage refinancing options exist for all types of situations and are available with easy eligibility requirements through Bank of America and Obamas stimulus plan.

These benefits exist due to cash incentives that will be given to Bank of America and other lenders who have been selected to offer these refinancing options from Obamas stimulus to homeowners. Every time a selected lender or bank follows the stimulus plan guidelines and approves a homeowner for refinancing, they will receive cash benefits for doing so. This money decreases their financial liability and also, as the stimulus plan requires, allows more homeowners in bad financial or mortgage situations to get approved for a refinancing. Bank of America has been one of the leading refinancing providers offering this plan. They have approved many people for a mortgage refinancing using Obamas stimulus program for struggling homeowners. Over $75 billion dollars have been allocated for Obamas mortgage stimulus program, and most of it will be used for these cash incentives for mortgage lenders and banks, like Bank of America, who help homeowners.

While each homeowners situation is different, there are a variety of benefits a homeowner can get by using Bank of America and Obamas stimulus plan to refinance their home loan. Here are some of the biggest benefits:

-Mortgage interest rates lowered to as little as 2% to make the monthly mortgage payments affordable.

-The ability to switch loan types. Homeowners can easily switch between an adjustable rate mortgage into a stable fixed rate mortgage with Obamas stimulus program.

-Easy eligibility requirements even for homeowners with bad credit, financial hardships or an upside down mortgage.

Many people can use these new Bank of America mortgage refinancing options for themselves and save money, their home, or both. Taking advantage of Obamas stimulus plan is easy and can provide you with great financial benefits. Take action now and contact Bank of America about refinancing a mortgage with Obamas bailout for homeowners.

-M Petrone
http://www.RefinancingCondo.com

Refinancing a mortgage in 2010 will be very beneficial for millions of homeowners. The biggest thing helping homeowners is President Obamas “Home Affordability” stimulus plan. This plan will help millions of people get a mortgage refinancing and save money, their home from being lost, or both. Even people with bad financial situations can easily get help from Obamas plan. Here are some important things to know if you plan on refinancing a mortgage in 2010.

Many people have fallen behind on their home loan payments, or are facing financial problems that make paying very hard to do. This is due to a bad housing market, and a terrible economy. However, since so many homeowners were losing their home and needed help, President Obama enacted a stimulus plan to help. This stimulus is backed with over $75 billion dollars and it is all dedicated to helping struggling homeowners.

This money will be given to a few selected mortgage lenders and banks who are authorized to offer stimulus mortgage refinancing options to homeowners. To get the money, lenders and banks must abide by the rules of Obamas stimulus program. Some of the biggest benefits homeowners get from these rules include:

-Mortgage payments that will not be more than 31% of a homeowners gross monthly income. This includes all home insurance, taxes, and other home fees. Many homeowners will see a 15% or more reduction from this single benefit alone.

-Mortgage interest rates than can be as low as 2%. This is in order to keep the monthly payments to a low enough level according to the stimulus. Also, a home loan can be extended in length in addition to a reduced interest rate to lower payments even further.

-Homeowners who owe up to 25% more on their mortgage than their homes actual worth can still get help. Before this stimulus plan a homeowner needed around 20% equity to get a good refinancing deal, now though things have changed to address the problems homeowners are facing.

-People with bad credit or financial hardships like a loss of job, hospital bills, bad debts, or other issues can get help using this plan. Before this plan existed homeowners with these financial problems would have a hard time finding refinancing help.

Homeowners all across the country can get help from Obamas mortgage stimulus plan. Never before has such a large program been put into place to assist homeowners. Do not lose your home to foreclosure or mortgage default, take action now and refinance your mortgage with Obamas bailout. Get the help you need now.

-M Petrone
http://www.RefinanicngCondo.com

Homeowners with bad credit will more often than not need to use the services of sub prime mortgage lender. While they typically offer higher interest rates and closing costs, the benefits are often better for homeowners with bad credit than a traditional lender or bank will offer. Here is how a sub prime mortgage lender is able to offer help to homeowners.

Many homeowners need to use a sub prime lender due to a number of different things. Whether they have bad credit, little to no equity in their home loan, or most as is often, no down payment, they can be labeled as a sub prime borrower. This means that you will not be able to receive advertised interest rates, or even most standard mortgage refinancing programs. However, where traditional banks and mortgage lenders are unable to help you, a sub prime mortgage lender is. They specialize in providing mortgage refinancing options for homeowners in all types of financial problems. However, this comes at a cost to the borrower.

Sub prime mortgage refinancing is a high risk and high reward venture for the lender. This is because since you are already classified as being in a financial hardship, you are considered a financial risk, however, they make enough money on successful refinancing deals from homeowners who are able to make their payments that they can continue to offer options to struggling homeowners. That means that sub prime mortgage refinancing, while it may be beneficial, comes at a high cost. Interest rates and closing costs are often much higher than the rates available elsewhere, but approval is almost guaranteed. This is necessary though on the lenders part due to the high chance a homeowner, even after refinancing, will not be able to pay their mortgage in the future.

The benefits of sub prime mortgage refinancing is dealing with a lender who truly understands bad credit and other financial issues, and has the experience and contacts to help. Many homeowners with financial problems have debts with interest rates that are much higher than the rates they can get, even with bad credit, when refinancing a mortgage. Also, since interest rates are so low right now, and will remain low for the noticeable future, many people can dramatically reduce their home loan interest rates, even with bad credit or other financial problems. Many homeowners also face the problem that they are in such a bad situation a traditional mortgage lender or bank is not even willing to extend them a refinancing offer. This leaves them with little to no choice but to use the services that a sub prime lender provides.

The bottom line is that homeowners who have no other choices can often get hep from a sub prime mortgage refinancing. While the costs may be much higher, and the savings much lower, there may be no other alternative. Many homeowners with financial problems and bad credit though can use a sub prime refinance as a good first step though in doing everything they can to reduce their expenses and maximize their cash. Also, homeowners always have the option of refinancing a mortgage again in the future should their credit or financial situation improve. While not ideal, a sub prime mortgage lender can help many struggling homeowners.

-M Petrone
http://www.RefinancingCondo.com

Homeowners all across the country are facing financial hardships and struggling to make their home loan payments every month. This has led to a bad housing market, and a record high number of foreclosures and mortgage defaults. In an effort to help homeowners, the Obama administration launched their “Making Home Affordable” plan. This stimulus plan is designed to help millions of people get help with mortgage refinancing or modification. Here is some advice for homeowners who are looking to refinance a mortgage in 2010.

Homeowners have enjoyed near record low mortgage interest rates throughout 2009. These low rates are due to a struggling housing market, a bad economy, Obamas stimulus program, and a high number of people losing their home. While interest rates will remain low in 2010, they are expected to rise a little. However, refinancing will still be beneficial for millions of people in 2010, even with a slight mortgage rate increase.

I also think homeowners will start taking more advantage of President Obamas stimulus programs and get refinancing or mortgage modification and keep their home. This will lead to a drop in foreclosures, an increase in home values, and a better overall housing market. However, this is what will also cause the slight increase in interest rates. While it does not sound good, it will be a good indication that the economy is getting better.

Overall, refinancing and mortgage modification in 2010 will help many people save money, their homes, or both. Many people will still benefit from Obamas stimulus, and many homeowners will see their home values rise. While a few homeowners will lose any benefits from refinancing or mortgage modification due to the slight rate increase, most people will still greatly benefit.

-M Petrone
http://www.RefinancingCondo.com

Wells Fargo mortgage refinancing options now exist for many people thanks to President Obamas stimulus plan. Only selected mortgage lenders or banks can offer the Presidents stimulus plan and Wells Fargo is one of them. Here is some advice on refinancing a mortgage with Wells Fargo and Obamas stimulus program.

This stimulus program from Obama is designed to help homeowners, reduce the number of foreclosures and loan defaults, and relieve mortgage lenders and banks taking more losses. This is all because of over $75 billion in funding specifically allocated for helping struggling homeowners. With this money, approved lenders and banks can lower monthly payments for homeowners, switch them into a better more stable fixed rate mortgage, or even reduce some of the principal that is due on the home loan. Also, a huge benefit is that a homeowner who uses this program will not have to pay more than 31% of their income to their monthly mortgage payment. Wells Fargo and the selected mortgage lenders and banks can lower mortgage interest rates, change the length of the home loan or both.

This is needed right now in th country due to the record number of foreclosures and mortgage defaults. The housing market is in bad shape, and many homeowners are going to lose their home unless they take action. This stimulus plan comes at a perfect time for millions of people, mortgage lenders and banks, and the overall economy and housing market. The idea with this program is to help people keep their homes, restore some stability to the housing market, and help the overall economy.

Since homeowners can only get stimulus mortgage refinancing options from selected mortgage lenders and banks. Wells Fargo has been chosen by Obamas administration to offer these new options to homeowners. Getting help refinancing a mortgage is now easier and more beneficial for more people than ever before. Do something about your expensive mortgage and get refinancing using Obamas stimulus plan.

-M Petrone
http://www.RefinancingCondo.com

Homeowners looking into refinancing should know that there are some fees and costs involved. These costs can equal thousands of dollars and easily eat into any potential benefits a refinance may have for you. If you are looking to refinance a mortgage, here are some tips that will assist you in getting the best deal possible, and avoid some expensive fees and costs.

Understand Mortgage Interest Rate Quotes
Did you know that the interest rate a mortgage lender or bank offers you already includes some commission for the person who arranged it? It does, but there is good news. You can get a mortgage interest rate at what is known as the “Par” or wholesale rate. This is a much better, and more money saving way to go when refinancing a mortgage.

What are Par and Whole Sale Mortgage Interest Rates?
Simply put, a wholesale rate, or “Par” rate is one which includes no additional fees or commissions included in it. While this does not mean that there are no profits for the lender to make, it does limit how much they can make. They will make their profits from closing costs, loan origination and other fees. However, they will not be making profit off of your monthly mortgage payments. If your not getting the wholesale or par interest rate, that means you are paying additional, and unnecessary money.

Obtaining Par Mortgage Rates is Not Impossible.
It is not impossible to find par or whole sale mortgage rates for the average homeowner. The key to getting these interest rates when refinancing a mortgage is finding the proper lender or bank. Typically smaller or mid size lenders and banks are most likely to offer you these options. They have less overhead and expenses, and can afford to profit only on the closing costs and refinancing fees, and not on the actual interest rate. While they may cost a little more in fees, the long term savings are more than worth it if you are able to obtain a whole sale interest rate.

Always Look Out for Mortgage Interest Rate “Premiums”
A lot of times, mortgage lenders and banks charge a “Yield Spread Premium” many homeowners already pay this fee and do not even know it. This is a commission bonus paid to the person who arranged your home loan. This bonus gets bigger the more they are able to overcharge you on your interest rate. This amount can be as much as 3% of your total loan cost. Always be aware of this fee, and ask about it before agreeing to anything.

Refinancing a mortgage is a great move for a lot of homeowners. Many people can save a lot of money on interest rates and by getting better mortgage terms and conditions. Take action now, but always be aware and ask questions whenever you think of them.

-M Petrone
www.RefinancingCondo.com

Homeowners can now get a mortgage refinancing into a 2% interest rate, save money, and save their home with President Obamas stimulus plan. This program is designed to help all sorts of homeowners find financial relief, save money, and avoid losing their home to foreclosure or mortgage default. It has never been easier or more beneficial to refinance a mortgage than it is now. Here is some information for homeowners who want to use this stimulus program for themselves.

This program is designed to lower homeowners monthly mortgage payments to an affordable level. The Obama administration has determined that homeowners using this plan should not have to pay more than 31% of their monthly income towards their monthly mortgage payment. This amount also includes taxes, insurance, and any homeowner fees. This will be a major reduction for many people, and possibly help them save their home from being lost, save them money, or both.

These new mortgage refinancing programs are possible because of over $75 billion in Government funding. This money helps mortgage lenders and banks approve more people, and take on more risk. This means that homeowners with little to no equity in their home, bad credit, or who have financial hardships can now easily find the help they need. Mortgage lenders and banks will offer these programs to nearly all homeowners knowing that they will receive financial guarantees from the Government.

Never before has it been this easy, or beneficial, for a homeowner to get help refinancing a mortgage. Homeowners all across the country are eligible to use this program for themselves, and better their financial futures. If your a struggling homeowner, get help now while it is easy to refinance.

-M Petrone
http://www.RefinancingCondo.com

CitiBank is participating in President Obamas “Making Home Affordable” plan. This means that homeowners in all types of bad financial situations can get help refinancing a mortgage with CitiMortgage and it is easier, and more beneficial than ever before. Here are some things a homeowner should be aware of before using this plan to refinance their home loan.

Right now, interest rates for mortgages are near record lows. This means that many people will benefit from refinancing a mortgage. However, also happening right now is an all time high number of foreclosures and mortgage defaults. This is due to a bad economy, a bad housing market, and many homeowners with bad loans. This plan aims to help struggling homeowners get into a better, affordable, and more stable mortgage by offering new refinancing options to people who would not have gotten help before.

These new options exist only because of over $75 billion in funding set aside by the Government for President Obamas stimulus. This money is going to be given to a mortgage lender or bank every time they follow the stimulus programs guidelines and approve homeowners for refinancing a mortgage or a home loan modification. Never before has the Government interfered with the housing market in this way. The goal is to reduce defaults and foreclosures, help homeowners, and help the overall economy.

The main benefits a homeowner will see are reduced interest rates, new refinancing options, and no closing costs or fees when you sign the refinancing deal. Millions of homeowners are able to use this plan for themselves. Take action now and avoid losing your home, or money you do not have. Get a mortgage refinancing with CitiMortgage and President Obamas stimulus program.

-M Petrone
http://www.RefinancingCondo.com

The new mortgage stimulus programs available because of President Obamas “Making Home Affordable” plan will help millions of people. The help will come from new mortgage refinancing and modification options that will lower monthly payments, help homeowners avoid losing their home, and save people money. Here are some important things you should know regarding refinancing a mortgage with Obamas stimulus program.

Right now, getting help refinancing a mortgage is easier and better for millions of homeowners. Even people with bad credit, who have lost a job, owe more than their home is worth, or are facing financial problems can easily get help refinancing. This is all possible because of over $75 billion from Obamas stimulus plan dedicated to helping struggling homeowners. This money will be given to mortgage lenders and banks when they follow the stimulus plan guidelines, and offer refinancing options to homeowners. This money enables the lenders and banks to take more risk, and approve more homeowners than they have ever been able to before. This money is basically insurance to cover potential losses should a homeowner still not be able to make their monthly payments. Many homeowner, mortgage lenders, and banks, are receiving benefits from Obamas stimulus.

With the money providing hope for homeowners, the foreclosure and mortgage default rates should drop. If this happens, homeowners will see their home values start to rise again, and see some improvements in the housing market and overall economy. The goal of Obamas plan is to provide help to homeowners, even if they would not be able to get it regularly. Many people will save a lot of money, and their home, from using this mortgage bailout. Take action now and refinance a mortgage with Obamas stimulus program.

-M Petrone
http://www.RefinancingCondo.com

Mortgage refinancing in 2010 will still be beneficial to many homeowners, but I do predict that interest rates will rise making it less beneficial for everyone, and making it not beneficial at all for many others. While mortgage interest rates will remain low, they will rise, and I think I know when and why. Here are my mortgage interest rate predictions for 2010, and how I made them.

Right now a typical 30 year fixed rate home loan can be had for as little as 5% interest. However, that interest rate is so low because of Government stimulus programs, and a weak housing market. When things are good, interest rates rise and lenders and banks can be more picky. However, when the marker and economy is in bad shape like it is, refinancing a mortgage is usually a good move due to low interest rates designed to spur activity in the market.

However, while many homeowners have taken advantage of this great time to refinance a mortgage, things will not be so beneficial in 2010. I think that we have already seen the market and economy bottom out. This means that 2010 will be better, maybe only slightly, financially for homeowners, banks and mortgage lenders. When things are better, and there is interest and demand in the market, interest rates will rise as a result. While the increase will be minimal, it is still significant enough to eliminate the benefit refinancing a mortgage can have for some homeowners.

Homeowners should take action now while interest rates are low, and mortgage lenders and banks are eager to help homeowners. While the increase in interest rates may be only around 1.25%, this will be enough to make refinancing no good for some people. Take action now while rates are near all time lows, and refinance your mortgage.

-M Petrone
http://www.RefinancingCondo.com

Many homeowners have not taken advantage of President Obamas “Making Home Affordable” stimulus plan. While this plan offers mortgage refinancing help for millions of struggling homeowners, only a small percentage of them are using it. Here are some of the problems homeowners are experiencing when trying to use this mortgage bailout for themselves.

A major problem is the fact that even with Government cash incentives, mortgage lenders and banks are reluctant to offer refinancing options to homeowners. That is because they have taken a huge financial hit in recent months, and are looking for sure things. That means that the only homeowners getting a mortgage refinancing right now are the ones in great financial shape, with good credit to match. This is leaving millions of homeowners who are struggling with limited to no options when looking for mortgage refinancing help.

Yet another problem seems to be homeowners getting, and returning, the appropriate paperwork on time and completed. While this seems simple, homeowners who use Obamas stimulus will have their finances scrutinized which means a lot of paperwork is needed. Sometimes, homeowners are late returning paperwork or answering questions which may lead to their application being denied or shuffled to the back of the pile.

Finally, another major hurdle mortgage lenders and banks face with Obamas plan is the fact that homeowners with upside down mortgages can get now get help refinancing a mortgage. This means that many homeowners who are underwater either through their own fault, or due to the economy and housing market may actually end up costing the mortgage lender or bank money when refinancing with Obamas plan. While lenders and banks want to help, they are not in it to lose money.

While this plan can, and is, actually helping people, it is not helping as many people as anticipated when it was made. Homeowners everywhere should carefully research these stimulus options and see what benefits may be available to them.

-M Petrone
http://www.RefinancingCondo.com

Chase bank is taking part in President Obamas “Making Home Affordable” stimulus plan and offering new mortgage refinancing and modification options to homeowners. These new options allow all sorts of homeowners in all sorts of financial problems to easily get help lowering their monthly payments, saving money, avoiding foreclosure, or all of the above. Here are some important things you need to know about refinancing a mortgage with Chase and Obamas stimulus plan.

Chase mortgage refinancing options exist mainly thanks to cash incentives that they get from the Government every time they help a homeowner according to the stimulus plan. This means that they are now able to offer refinancing packages to homeowners who have been denied before, have bad credit, owe more than their home is worth, or are facing other financial problems. This comes at a time when the economy is bad, the housing market is worse, and homeowners are losing their homes at a pace never before seen.

The goal of this stimulus program banks and mortgage lenders like Chase who are participating in it is to get the monthly payments to an affordable level. The Obama stimulus plan calls for homeowners who refinance a mortgage with it to not have to pay more than 31% of their monthly gross income to their mortgage payment. That will be a major reduction for many people, save them money, and their homes. To do this, banks and lenders like Chase can reduce the interest rates, change the length of the home loan, or both. Many homeowners are now able to use Chase when in the past, they would have been denied.

Homeowners are encouraged to contact Chase and ask about refinancing a mortgage with Obamas stimulus programs. Do not wait any longer, go out there and get the help you need. Refinancing has never been easier than it is right now, take advantage and take action.

-M Petrone
http://www.RefinancingCondo.com

Finding the right mortgage lender or bank for refinancing a mortgage is crucial to truly getting the best deal possible. Each lender or bank offers different mortgage refinancing options with different costs, fees, and interest rates. Sometimes a mortgage lender or bank charges much more than is necessary to fatten their profits by increasing the interest rates, closing costs, or additional fees. Here is some advice on finding the best and cheapest mortgage lender or bank when you decide to refinance.

The first thing you need to do is understand your situation. Unless you have perfect credit and meet all of the eligibility requirements, you will not be getting the absolute lowest interest rates. Be realistic when researching potential mortgage lenders or banks and the offers they present you. Something you can do though to make the process of finding the right refinancing provider is know what type of refinance you actually want, or need. This will allow you to eliminate comparing different lenders and banks options that are irrelevant to your needs. Also, this will make comparing the remaining options easier.

Another key thing a homeowner should always to in order to get the best mortgage lender or bank for their situation is to get all quotes in writing. While it is not required that you get a written quote, it is often given when a homeowner asks for one. Make sure this refinancing quote includes all costs, fees, and other related expensed. Also, make sure that the interest rates are quoted. While this home loan refinancing quote may only last for a few business days, it is better than nothing and will give you time to compare the different options available to you. You can also shop this written quote around to potential mortgage lenders and banks and see if they can better, or at least match the offer. Many times they will be more inclined to give you better interest rates, terms, or conditions if you present them with a real written offer from a competing mortgage lender or bank.

One of the most important, but least talked about things homeowners should look for in a mortgage lender or bank is the customer service. You can be assured that if they are not communicating with you, answering your questions, or showing any progress with your refinancing, they are not really doing a good job of trying for you. Always remember that your home is probably the most expensive thing you will probably ever own. When refinancing you are counting on the mortgage lender or bank to truly offer you a good package, and not try to milk you for every penny they can. While they do need to make money for the services they provide, there is no reason they can not provide good service. Never take for granted how you are treated. You will be much happier in the long run going with a good, solid, truly helpful lender or bank as opposed to saving a few dollars and receiving horrible service.

Homeowners all across the country are refinancing their home loans to take advantage of low interest rates and Government stimulus programs. If you are one of them, make sure you do some research prior to agreeing to any refinance deal to ensure you are getting the absolute best deal possible.

-M Petrone
http://www.RefinancingCondo.com

Homeowners have been refinancing and taking advantage of low interest rates and Government stimulus programs. However, I think in 2010, things may change in the housing market. Here are my mortgage interest rate predictions for 2010, how I made them, and how they will effect homeowners looking to refinance.

Many homeowners have benefited from the low mortgage interest rates that have been available throughout most of 2009. The rates have been low due to Government stimulus programs, a bad economy, and a struggling housing market. In order to keep things as stable as possible, interest rates needed to be reduced to help homeowners. Homes throughout 2009 have pretty much all dropped in value, some by a lot. This is leaving mortgage lenders and banks with foreclosed homes in their inventory that will actually end up costing them money. Instead of letting more homes be lost, lenders and banks were more likely to offer refinancing or mortgage modification options to homeowners. In addition to the natural demand to stop foreclosures, the Government and President Obama have announced over $75 billion in funding for homeowner stimulus programs. These stimulus programs kept interest rates low, and provided new options for nearly every homeowner to get a mortgage refinancing.

However, I do not things will be so good for homeowners as far as interest rates are concerned in 2010. I predict that sometime around April of 2010 that mortgage interest rates will rise by about 1.25%. While this seems small, it actually adds up to a lot of money over the course of a 30 year mortgage. This increase will make some homeowners not be able to benefit at all from refinancing a mortgage. I think that a typical rate for a 30 year fixed mortgage will be around 6.25%-6.50%. Right now, the same home loan can be had for around 5%.

I think rates will rise due to a better housing market, and a improvement in the overall economy. While things wont be perfect, I do think that the bottoming out of the market has already happened. This means that there will be increased activity in the housing market which will bring up home prices, and help the overall economy. When this happens, interest rates will rise as the need to provide the absolute lowest interest rates to help homeowners will be much less needed. Also by then many homeowners will have found mortgage refinancing help and options with Obamas stimulus programs.

While the future will be more financially stable and secure for homeowners, it will come at the price of increased interest rates, and less mortgage refinancing options. However, refinancing a mortgage will still be very beneficial for many people, even after the rate increase I predict. Homeowners who are struggling or considering a refinance should take action now while the mortgage rates are that low.

-M Petrone
http://www.RefinancingCondo.com

Homeowners with a mortgage from Fannie Mae or Freddie Mac are in luck. New mortgage modification and refinancing options are now available to all homeowners with a home loan from either Fannie or Freddie. These options exist because of President Obamas stimulus program. Here is how to take advantage and benefit from a mortgage refinancing or modification with either Freddie Mac or Fannie Mae.

These new options are made possible because of $75 billion in funding to help homeowners. This money comes from the Obama administration in an effort to help people get a more affordable home loan payment every month, and avoid losing their home. The stimulus program has a requirement for homeowners and allows everyone with a mortgage from Fannie Mae or Freddie Mac to get a mortgage refinancing or modification.

Homeowners who wish to use this plan with Fannie or Freddie will see numerous benefits. Many people will save money, avoid losing their home, or both. Never before has such a plan been enacted that is capable of helping so many people. Here are some of the biggest ways this stimulus program helps homeowners with Fannie Mae or Freddie Mac:

-This plan allows homeowners with Fannie or Freddie to modify their mortgages even if there are upside down. Now, a homeowner can get approved for a mortgage refinancing and owe up to 25% more than the home is worth on the open market. This is a major change that will help many struggling homeowners.

-To make home loan payments affordable, the stimulus plan has some requirements which Fannie Mae or Freddie Mac must meet. A major one is that a modified mortgage can not exceed 31% of a homeowners gross monthly income. In order to accomplish this, interest rates can be reduced, the home loan can be extended in length, or the terms and conditions of a mortgage can be altered.

-Homeowners who have lost a job, are facing huge debts, have hospital bills, or are experiencing other financial hardships can get help using this stimulus program. Even homeowners who have been denied a mortgage refinancing from Fannie or Freddie in the past will now find it much easier to get help. The stimulus plan from Obama mandates it so it is nearly guaranteed that many homeowners can get approved for a mortgage refinancing or modification.

-Homeowners who use this plan for refinancing or mortgage modification will not need to pay any fees. This means that closing costs, loan origination fees, points, and other costs do not exist. This will save a homeowner thousands of dollars which they probably do not have.

Never before have so many people been able to get help with their home loans. Getting help refinancing a mortgage is easy. Contact Freddie Mae or Freddie Mac and ask how you can benefit from refinancing a mortgage according to Obamas stimulus program.

-M Petrone
http://www.RefinancingCondo.com

Homeowners all across the country can take advantage of President Obamas new stimulus program and refinance a mortgage into a better rate. This program also will help people avoid foreclosure and save money. Using this plan is easy and the qualification requirements are easy to meet for nearly any homeowner. Here is how and why you need to refinance your home loan with Obamas stimulus plan.

The goal of this program is to get homeowners a monthly mortgage payment that they can actually afford. The thought behind it is that if someone can make their payment, they will. With so many foreclosures, struggling homeowners, and home loan defaults happening right now, something needed to be done. That is why over $75 billion in Government money is available to help homeowners.

This money will be given to mortgage lenders and banks who have been chosen to offer stimulus options for refinancing to homeowners. With this money, a lender or bank is more able to provide helpful mortgage refinancing options to all homeowners. Even homeowners who have bad credit, lost a job, are facing financial problems, or have an upside down mortgage.

Homeowners who are behind on their home loan payments, have missed some, or are barely able to keep up with them should take action and get help now. Never before have such options been available for nearly all homeowners. Do not let your home be lost to foreclosure or your situation get worse. Be sure to take advantage of Obamas housing bailout plan and get the help you need.

-M Petrone
http://www.RefinancingCondo.com

President Obamas mortgage bailout plan will help millions of people save a lot of money, their home, or both. This program will allow struggling homeowners with financial or mortgage problems to easily get a refinancing into a better more affordable monthly payment. Many homeowners will get lower interest rates, and a home loan payment that they are actually able to make. Here is how this plan works and what you need to know.

This program is designed to help homeowners even if they have bad credit, bad financial problems, no job, or owe more than their home loan is worth. This program works by lowering homeowners payments to an affordable monthly payment that is not more than 31% of a homeowners gross monthly income. This rate includes taxes, insurance, and any homeowner fees. This will be a dramatic reduction in payments for many homeowners and will allow millions of people to avoid losing their home, save a lot of money every month, or both.

To do accomplish this, the Government has set aside over $75 billion to help homeowners. Mortgage lenders and banks who are approved to offer the stimulus programs will get a cash bonus for doing so. This means that help is available even if you have been denied before, have little or negative equity in your home, want to switch loan types, or have a bad credit history. Never before has it been this easy for homeowners in all financial situations to get the help they need.

With the bonus money, lenders and banks can approve more homeowners, and in worse situations. That is because the money is only given when they follow the plans guidelines and help a homeowner. Many things can be done to assist people in getting an affordable monthly payment. Interest rates can be lowered to as little as 2%, the length of the mortgage can be extended, or some principal that is owed can be taken off, all because of President Obamas stimulus plan for homeowners

Homeowners should contact their mortgage lender or bank and ask about how they can get a mortgage refinancing with Obamas stimulus. Taking action is easier and more beneficial than ever before, for all homeowners. Take advantage and preserve your homes future.

-M Petrone
http://www.RefinancingCondo.com

For most of 2009, mortgage interest rates have been extremely low. Right now, mortgage rates are near all time record lows, and many homeowners are taking advantage and refinancing. However, I think that things will change in 2010, and interest rates will rise. Here are my mortgage rate predictions for 2010, and how I made them.

Throughout most of the year, home interest rates have been around 5% for a standard 20 year mortgage. However, that was due to an extremely high number of foreclosures, a bad economy, and a horrible housing market. Also, Government programs attributed to keeping mortgage interest rates low and allowing homeowners to easily get help refinancing a home loan. I think that things will change though in 2010.

I think we have already seen the absolute bottoming out of the housing market. While things are still not in great shape, I do not think they will be getting much worse. Homeowners who are at risk of losing their home are getting help with the current stimulus programs, low interest rates, and mortgage refinancing or modification options. I think that things in the housing market will only improve, maybe slowly, over the next year.

This means that home loan interest rates may rise. I predict that in 2010 mortgage rates may go up by as much as 1.5%. While this seems small, it adds up to a lot of money over the course of a large 20 year home loan. This increase may even be big enough to make refinancing a mortgage not so beneficial for some people. However, even if the rates go up by 1.5% there is still plenty of room for many homeowners to save money.

While nothing is guaranteed I do think that things will be getting better for the housing market in 2010. However, this means that interest rates may rise. Homeowners who are at risk of losing their home should take action now. I do not things will be getting much easier for homeowners who want to refinance any time soon.

-M Petrone
http://www.RefinancingCondo.com

Do you have bad credit and want to refinance your mortgage? Do you owe more than your home is actually worth? Struggling to make your monthly home loan payments? Are you in foreclosure or worried about it? Then President Obamas “Making Home Affordable” plan is perfect for you. This new stimulus program offers mortgage refinancing and modification options to millions of people, regardless of their financial situation. Here is how this stimulus can help you.

This plans goal is to reduce the overall number of foreclosures, help the housing market, and help millions of homeowners get an affordable monthly mortgage payment. The thought behind this program is that a homeowner will make their home loan payments, if they are affordable. That is why this program will help so many people. Homeowners who get a mortgage refinancing or modification through Obamas stimulus will not have to pay more than 31% of their gross monthly income towards their monthly home loan payment. Homeowners will get lower interest rates, a longer home loan length, or both to make payments affordable. There is even a chance that some principal on the actual loan can be reduced. This will save many people a lot of money, and their home from being lost.

Another huge thing that will help homeowners is the help available for people in bad financial or mortgage situations. Using this stimulus program, a homeowner with bad credit, financial hardships, or an upside down mortgage can still get help refinancing a home loan. Homeowners can actually owe up to 25% more than the homes is actually worth, and still get help. This will relieve the stress and inability to pay the monthly mortgage that millions of people are facing.

Overall, this plan will help a lot of people, the entire housing market, and the economy. The benefits and ease of using this plan will help millions of homeowners save money, their home, or both. Taking action and refinancing a mortgage into a better one has never been easier to do. Take action now and secure your financial future.

-M Petrone
http://www.RefinancingCondo.com

Bank of America offers home loan refinancing and modification options to all types of homeowners thanks to President Obamas mortgage bailout. This $75 billion stimulus plan is in place to help struggling homeowners get refinancing or mortgage modification into a better, more affordable monthly rate. Bank of America is participating in this stimulus program and here is how this plan works for homeowners who want to use them for refinancing a mortgage.

Bank of America has always been helping and able to assist homeowners in nearly any situation get help refinancing their mortgage. Now, they can offer even more help to even more homeowners thanks to President Obamas stimulus program. Bank of America is one of a select few mortgage lenders or banks who are authorized to offer this program to homeowners. This is all possible because of over $75 billion in funding that is aimed at helping homeowners save money, avoid foreclosure, or save their home.

This money is going to be given to mortgage lenders and banks as an incentive to help homeowners and follow the stimulus plan guidelines. This money gives them more reason to want to help homeowners, and the financial backing to do so without taking on a large risk and helping a struggling homeowner. The goal of Obamas stimulus is to get homeowners into a monthly mortgage payment they can actually afford, and this money and the participating lenders and banks help push that goal. With foreclosures and mortgage defaults at all time highs, many homes will end up actually losing money if they are lost and need to be sold by the bank or lender. Instead of taking that risk, mortgage lenders and banks are much more likely to help you instead of letting you lose your home.

Homeowners who use President Obamas stimulus plan will get some benefits from refinancing. Some of the biggest ones include:

-No closing costs or fees for refinancing a mortgage with Obamas stimulus plan and an approved lender or bank. These fees usually costs thousands of dollars but are waived with this mortgage bailout plan.

-Mortgage rates can be lowered to as low as 2% or a home loan can be extended in length. Both of these things will reduce your monthly mortgage payments. Sometimes, a combination of both things will be needed to get the payments to an affordable level.

-Homeowners who owe up to 25% more than their home is worth or who have bad credit or financial problems can still get help. Even homeowners who have been recently denied a refinancing can now find the help they need.

Bank of America mortgage refinancing is a great way for many people to save their home, avoid foreclosure, and save money. Never before has such an extensive plan been offered to homeowners. Getting help refinancing is easier than ever. Contact Bank of America and ask about their new mortgage refinancing stimulus options.

-M Petrone
http://www.RefinancingCondo.com

Wells Fargo is now able to offer new mortgage refinancing and modification options for a lot of homeowners. This is possible because of President Obamas “Making Home Affordable” plan. This plan is aimed at helping the millions of homeowners who are at risk of losing their home, or who are paying too much for their mortgage every month. Here is how you can use Wells Fargo and President Obamas stimulus plan to help you refinance a mortgage and save money, your home, or both.

Wells Fargo mortgage refinancing options exist even if a homeowner has bad credit, an upside down mortgage, or is facing financial problems. This is because of over $75 billion in money given to mortgage lenders and banks every time they help a homeowner. However, only a few mortgage lenders or banks are able to offer these programs to homeowners and Wells Fargo is one of them.

This money only will be given when a lender or bank follows the programs guidelines set by the Obama administration. This means that many benefits will be available to millions of homeowners who want or need to refinance a mortgage such as:

-Homeowners will not need to pay over 31% of their monthly income to their home loan. To do this interest rates can be reduced to as little as 2% or the home loan can be extended in length. Sometimes both things will need to be done to get the payments low enough.

-The ability to get help and an approval for refinancing a mortgage with bad credit. This money helps mortgage lenders and banks approve homeowners in all types of bad financial and mortgage situations. Plus they get cash incentives to help homeowners. This means it is easier than ever to get help, regardless of your situation.

-There will be no closing costs or fees for homeowners who refinance with Obamas stimulus program. This will save homeowners thousands of dollars which they probably do not have due to such a bad housing market and economy.

-Homeowners in foreclosure can stop or avoid it altogether by using this program. As soon as a homeowner sign a mortgage refinancing agreement according to Obamas stimulus plan, any foreclosures are halted. This will save many peoples homes.

Wells Fargo can help homeowners refinance a mortgage. Contact them today and see what options exist for you. Odds are you will find that refinancing can be very beneficial for you, especially with Obamas stimulus plan. Contact Wells Fargo now and ask about refinancing with Obamas stimulus program.

-M Petrone
http://www.RefinancingCondo.com

President Obamas mortgage stimulus program will help millions of homeowners. The help comes from new mortgage refinancing options which are aimed at helping struggling homeowners get a better, more affordable monthly mortgage and avoid or stop foreclosure. Millions of homeowners are now able to get lower monthly mortgage payments, and save money,their home, or both with Obamas stimulus.

This stimulus plan is due to the horrible economy, bad housing market, and record high number or foreclosures and mortgage defaults. Millions of homeowners are struggling which is leading to a domino effect and now the mortgage lenders and banks are starting to feel the pinch as well. Now though, over $75 billion in money is set to be used by Obamas plan to help homeowners.

New mortgage refinancing options now exist for all types of homeowners in all types of financial situations. Whether you have bad credit, an upside down mortgage, no money, no job, or have been denied before, help is now available. That is because cash incentives from the $75 billion is going to be given to mortgage lenders and banks every time they help a homeowner avoid foreclosure, or get a mortgage refinancing according to Obamas plan. This money means that getting approved for refinancing, even with bad financial problems or if you are facing a foreclosure, is now possible and easier than ever.

This mortgage stimulus plan and bad housing market have also been keeping mortgage interest rates low. Due to the high number of foreclosures and loan defaults, lenders and banks are left with a lot of foreclosed homes that are not worth nearly as much as they were initially bought for. This means that many homes that have been foreclosed on are potential money losers. With that in mind and new Government programs in place, getting help refinancing a mortgage is easy.

Get the mortgage refinancing help you need and save your home and money with Obamas stimulus programs. Take action now before things get worse, or you lose your home.

-M Petrone
http://www.RefinancingCondo.com

Cash back refinancing options are a great way to use a homes equity for an immediate financial need. Also, a mortgage interest rate is usually much lower than a personal loan or the rates you pay on existing debts. This can be a great way to obtain a large amount of money, quickly, with no money down, and at a good interest rate. Here is some advice for homeowners looking into a cash back mortgage refinancing.

When a homeowner gets cash back from a refinancing, it is not that complicated of a process. Basically, the homeowner is just taking out a new, larger loan and replacing their existing mortgage with it. The difference in amounts will be pocketed and the homeowner can use that money for whatever they wish. However, a homeowner typically needs some equity in their home for this option to be available to them.

Say you owe $50,000 on your $150,000 home over the next 10 years. You could refinance into a new $100,000 dollar loan, pay off your remaining mortgage balance of $50,000, and pocket the remaining $50,000. Your home loan length, interest rates, terms and conditions can be effected by this, but sometimes it is actually helpful.

While not all homeowners will benefit or even be able to get a cash back refinancing, many will. This money can be used for anything a homeowner wants, but it is best to have a plan for it. Using it to reduce other high interest debts, to improve or repair a home, or to pay tuition or hospital bills is a great way to utilize the money and better your financial future. However, you can use the money however you want and for anything you want.

Just always remember that eventually all the money you borrow will need o be paid back. If you go into a cash out refinancing with a plan, you most likely will come out ahead and truly benefit. Many people though just want a lot of cash on hand to do with what they please. While this is not wrong it is not necessarily a good decision. Have a good plan and take care of your future.

-M Petrone
http://www.RefinancingCondo.com

Many homeowners are interested in a cash back mortgage refinance but do not fully understand what it is. A home is most likely the most expensive thing you will ever own so you should know the pros and cons of this type of refinancing. Here is a general breakdown of what a cash our refinance is and how it may help you.

Mortgage refinancing to get cash back is not available to everyone. You must usually have 20% equity in your home in order to qualify. However, some mortgage lenders and banks offer cash out refinancing options for homeowners with less equity than that. When you choose a cash out refinancing option it is not really that complicated to understand. You are just taking out a new, larger home loan and replacing your current one with it and pocketing the difference. You may also be able to do this and get a lower interest rate on your loan which would be another benefit and help offset expenses of refinancing a mortgage to get money from the homes equity.

For example, say you own a home that is worth $300,000 and you owe $100,000 over the next 10 years. Refinancing to get money may mean that you take out a new loan that is for $150,000, pay off the $100,000 you owe, and pocket the remaining $50,000. Hopefully you realize that cash back mortgage refinancing is a great way to get a large amount of money at a great interest rate, it all will be paid back over time. Never forget that you are still borrowing money against your home.

While the money you get from refinancing a mortgage this way can be used for anything you want, it is best to have a good plan for it. Use it to pay down other high interest debts, loans, hospital bills or other expenses and try to get ahead in your finances. Or, you could spend the money on home improvements and repairs which will increase the homes value even more. Ultimately, it is up to you what to do with the money, however make sure you have a good plan for it.

-M Petrone
http://www.RefinancingCondo.com

While refinancing a mortgage can be a great move for many people, it is also not the right thing for everyone to do. If you are lured into a refinancing deal by a slick salesman, or you are unprepared, it can cost you thousands of dollars, or possibly your home. Here are some of the dangers of improperly refinancing a mortgage.

Many times, a homeowner is lured into a refinancing deal with the promise of low interest rates and a better financial future. Many less then honest mortgage lenders and even banks exist that are more than happy to promise you the world, charge you a large fee and do no work in finding you a proper mortgage refinance deal. Even worse, maybe they present you a deal that only increases their commission and will actually damage your financial future or have no true benefits for you. While most all mortgage lenders or banks are honest, reputable, and truly dedicated to helping you, you can bet on some less that upstanding companies that prey on homeowners.

Never lie or stretch the truth on your mortgage refinancing application. Even if you slip the many verification processes, it can and most likely will catch up with you in the long run. If something goes wrong and you cannot prove your finances, the mortgage lender or bank will know that you lied to them. This will hurt your reputation with them and almost kill any chance you have on working with them again on decent terms. Do not take the risk or put yourself to get into a bad situation in the future. Never lie, tell the truth and be transparent with your finances.

Something else important to remember is that unless you are clear about what you expect to get from a mortgage refinancing you can get into the wrong home loan or refinance option. For instance, if your desire is to lower monthly payments you need to be clear on how you intend to lower them. A refinancing can extend your home loan length which lowers payments, get you into a better cost reducing interest rate, or a combination of both. Mortgage lenders and banks have no idea about your financial goals or needs. Help them find the proper mortgage refinancing option for your goals and desires.

There are consequences to refinancing a mortgage the wrong way. Do not let your finances or future be ruined. Make sure you understand the process and are clear on what you need to do and are getting into.

-M Petrone
http://www.ReifnancingCondo.com

Mortgage rates have been really low for most of 2009. However, I think that things will change in 2010, and it may be bad news for some homeowners. Here are my mortgage interest rate predictions for 2010.

Throughout most of the year, home interest rates have been around 5% for a standard 20 year mortgage. However, that was due to an extremely high number of foreclosures, a bad economy, and a horrible housing market. Also, Government programs attributed to keeping mortgage interest rates low and allowing homeowners to easily get help refinancing a home loan. I think that things will change though in 2010.

I think we have already seen the absolute bottoming out of the housing market. While things are still not in great shape, I do not think they will be getting much worse. Homeowners who are at risk of losing their home are getting help with the current stimulus programs, low interest rates, and mortgage refinancing or modification options. I think that things in the housing market will only improve, maybe slowly, over the next year.

This means that home loan interest rates may rise. I predict that in 2010 mortgage rates may go up by as much as 1.5%. While this seems small, it adds up to a lot of money over the course of a large 20 year home loan. This increase may even be big enough to make refinancing a mortgage not so beneficial for some people. However, even if the rates go up by 1.5% there is still plenty of room for many homeowners to save money.

While nothing is guaranteed I do think that things will be getting better for the housing market in 2010. However, this means that interest rates may rise. Homeowners who are at risk of losing their home should take action now. I do not things will be getting much easier for homeowners who want to refinance any time soon.

-M Petrone
http://www.RefinancingCondo.com

Refinancing a mortgage for homeowners with bad credit or who owe more than their home is worth has always been hard to do. However, new Government stimulus programs make refinancing a mortgage easier than ever, regardless of your financial situation. Here is some information on President Obamas “Making Home Affordable” plan and how you can use it to easily refinance your home loan.

Right now new Government programs exist because of the tough economy and bad housing market. This has led to the Obama administration to introduce the “Making Home Affordable” plan that will help millions of homeowners. The help is available through new mortgage refinancing and modification options for millions of struggling homeowners. This program is designed to reduce and stop foreclosures, lower monthly payments, and allow a homeowner to keep their home. Even people with bad credit, upside down mortgages, or who have been denied before can find help refinancing a mortgage.

This help is possible because of over $75 billion in Government funding which will be given as incentives to mortgage lenders and banks. When an approved lender or bank offers help to a homeowner following the rules of the mortgage stimulus plan they will get cash incentives. This money encourages banks and lenders to help homeowners and also helps them reduce financial risks by approving struggling homeowners for refinancing or mortgage modification. Since the plan is designed to help struggling homeowners, getting help refinancing right now is easier and better than ever.

Also, besides the Government stimulus programs the interest rates available right now are near record lows. Current 30 year fixed rate mortgages can be had for around 5% which is half of what rates were just 5 or 10 years ago. This means that many homeowners will save a lot of money every month just due to reduced interest rates.

If you need help making your home loan payments every month or are facing foreclosure consider refinancing a mortgage. This can be a great way to use the Government stimulus programs, take advantage of low interest rates, and save money or your home. Take advantage and take action now before your situation gets worse.

-M Petrone
http://www.RefinancingCondo.com

Mortgage refinancing can be confusing and intimidating to many people. Believe it or not though, it is much easier than many people expect it to be. Here is some easy to follow advice on how to get a proper mortgage refinance.

The first thing you should do is consider your options and goals. This will vary according to each homeowners financial position and plans. However, knowing why you want to refinance will eliminate a lot of guess work on both you and the mortgage lenders or banks part by making things clear. This way you can focus on specific refinancing options and ignore the ones which you would not want anyway. Do not refinance just because you got something in the mail or a phone call from a potential lender or bank. Know your reasons and goals when refinancing and never forget the long term.

Next, compare different mortgage lenders and banks against each other. Check what interest rates they can offer as well as different loan types, conditions, and terms. If you know what type of refinancing option you are looking for this is a much easier thing to do. You can easily compare closing costs, fees, and interest rates against different lenders and banks. Also, if you find an offer you like, be sure to get it in writing. Many times a written quote can be leveraged against a competing lender or bank and can help you obtain a better rate. It is not a sure thing, but it never hurts showing a potential lender you have done your homework and are aware of your options.

Finally be patient. While you should remain in contact with your mortgage lender or bank throughout the entire process, do not nag them. As a rule of thumb, if you have not heard from them in 1 business week, contact them. However, do not call them multiple times per day with questions. Refinancing is popular these days and applications are flooding their desks. Write down your questions so that when you are talking to them you are prepared, and they are too. This will be your best bet in making some headway in communicating with your mortgage lender or bank.

Refinancing a mortgage
is a great option for many people, especially right now. However, doing it the wrong way can cost you time, money, or your home. Make sure you do some research before refinancing and have a good idea of what to expect. This will help ensure you get the best refinance possible.

-M Petrone
http://www.RefinancingCondo.com

Mortgage refinancing is a great way for a homeowner to lower their interest rates, save money every month, get cash back from their home equity, or switch loan types. Many people, especially these days, are looking into refinancing a mortgage. Here is some advice and help that will make refinancing a mortgage easier and less frustrating for all homeowners.

With interest rates so low and Government stimulus programs in place refinancing a mortgage is a very popular option for homeowners right now. That means that you will not be the only person who is applying for help with their home loan. In fact, there will most likely be dozens of applications that were submitted before yours that will get attention first. However, there are some things you can do to ensure that your application does get the attention it deserves, and make it stand out from the others.

The first, and maybe most important thing you need to do is understand which loan type you want to get. There are many reasons and options for a homeowner who is refinancing a mortgage. Some of the more popular reasons for refinancing include:

-To change the terms, conditions, or length of a home loan.

-To get a lower interest rate.

-To lower monthly home loan payments.

-To get cash back from the equity you have built in your home.

-To switch loan types. For example, refinancing can allow a homeowner to change from an ARM (Adjusted rate mortgage) into a fixed rate mortgage.

If you understand your goals and what you want to get out of a refinance, the process will be much easier. This is because you can avoid other options that may be offered to you and more quickly target the truly beneficial refinancing option for your situation. Do not let this happen to you. It shows when a homeowner is refinancing on a whim. Have a plan and show the lender or bank that you understand the situation.

The next thing you can do to help ease the process is get all of the appropriate paperwork you will need together and organized. Mortgage lenders and banks will need to verify things like debts, assets, income, tax returns, and bank statements. Have a copy of these all organized and ready to go. This will show your mortgage lender you are committed to making their job and the refinancing process as easy and painless as possible and are prepared. This goes a long way when mortgage lenders and banks are being swamped with refinancing applications. Many of which are incomplete or have homeowners who are not prepared at all.

One of the final and most basic steps a homeowner can take to properly prepare and find the correct mortgage refinance is to remember that you are the customer. This means that you should ask questions, have good open communication, and quick answers, from any potential mortgage lender or bank. This is very important to remember as many people think that must only use their current lender to get a refinancing. That is not true at all. You as a homeowner and customer have the right to choose any lender or bank you choose. You will be making a major financial decision that will most likely last for 30 years. Always take into consideration the mortgage lender or banks customer service. While it is obvious that money is a major factor in choosing who to refinance with, never forget customer service.

All homeowners will benefit from following this easy to do advice. Many people have no clue where to start and are left with a half empty or incorrect application. This often results in major delays or denial for refinancing altogether. Do not let this happen to you. Take a little action and make sure you position yourself in the best way possible to get the mortgage refinancing you need.

-M Petrone
http://www.RefinancingCondo.com

Homeowners across the country are now eligible to use President Obamas mortgage bailout plan for themselves. This means that refinancing a mortgage into a better, more affordable monthly payment. Millions of homeowners need to take action and lower their mortgage payments and this plan will help them do that. Here are some things you need to know.

Taking advantage of this stimulus plan is easy. Even homeowners who have bad credit or an upside down mortgage will find that getting help is easy with Obamas stimulus. With over $75 billion in funding, an estimated 8 million homeowners can use this stimulus program for themselves. Never before has such a big program been enacted by the Government to help homeowners.

This is all because of the tough economy, bad housing market, and all time high rate of foreclosures and mortgage defaults. Mortgage lenders and banks can not risk taking on another foreclosed home. Many homes are actually losing money once they have been lost. These days, and with President Obamas stimulus program in effect, mortgage lenders and banks would rather try to help you than let you lose your home. They are much more willing to extend new mortgage refinancing options to you that exist because of Obamas bailout plan.

If you are one of the millions of struggling homeowners, take action and get help now. President Obamas stimulus is designed to help all types of homeowners. Do something about your financial future, and that of your home. Take action and refinance your home loan now according to Obamas stimulus plan. Never before has such a plan been able to help so many people. Use it to your advantage.

-M Petrone
http://www.RefinancingCondo.com

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