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

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