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

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