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

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