Due to slow results from the ongoing foreclosure prevention stimulus efforts, President Obamas administration will spend the next few months carefully checking out mortgage lenders and banks who have not done enough to help homeowners at risk of losing their home.

This past Monday, officials from the Treasury Department said that they are going t increase the pressure on over 70 companies who are taking part in the Governments $75 billion mortgage bailout program designed to prevent foreclosures. Beginning this week, small groups of Government monitors will be sent to each of the right biggest lenders and banks participating in the stimulus plan. They will monitor all of the work done in the refinancing and foreclosure departments, and get 2 reports daily on the progress of refinancing or modifications to loans helped by Government money. To make things even better for consumers, and to shame the companies who are not helping, a list will be published on the internet of companies that are not doing enough to help homeowners.

This should push lenders and banks who could do more, to do so. This means that getting a mortgage refinance right now is easier, and better, than it ever has been for millions of homeowners. That is good news, and a big relief to many people who are truly at risk of losing their home. Many homeowners are hurting from the bad economy, and worse housing market. Do not be a victim. Get the help you need today and contact a mortgage lender or bank and ask about the stimulus plan, and how it can help you.

-M Petrone

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