Mortgage refinancing has become a very popular option for homeowners who are facing financial hardships or other home loan problems. New Government stimulus programs allow homeowners in all types of bad situations to easily find, and get approved for refinancing or mortgage modification. Here are some of the reasons why refinancing right now is so popular.

Right now, many homeowners are facing all sorts of problems. From the housing market tanking, to the economy being in bad shape, many people need relief on their monthly mortgage payments. This year foreclosures and mortgage defaults have jumped to all time highs. Many mortgage lenders and banks are stuck with a lot of homes they gained through foreclosure, that may not generate any profits for them. This means that lenders and banks are much more willing to work with you, as opposed to letting you lose your home. Also, new Government stimulus programs give cash incentives to banks and lenders who truly help a homeowner get a better mortgage. In addition to that, home mortgage rates are near all time lows. This gives many homeowners the chance to save a lot of money on interest rates alone. These are the big reasons that mortgage refinancing is more popular now than ever before.

Many homeowners are at risk of losing their home, or a lot of money every month on an increasing ARM loan. However, this stimulus plan aims to provide affordable monthly mortgage payments to millions of existing homeowners. Even if they have bad credit or other mortgage problems, getting help is easier than ever before. There is no reason not to get help with refinancing or mortgage modification. No matter what your situation is, there is help available. Contact your mortgage lender or bank today and see what options are available.

-M Petrone

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