Wells Fargo is taking part in President Obamas “Making Home Affordable” plan. This mortgage stimulus allows millions of homeowners to get a mortgage refinancing or modification into a better, more affordable, home loan. Using this plan will make it easy to get a better, more affordable home loan, and prevent a lot of people from facing foreclosure or default. Here is how you can use this stimulus, and Wells Fargo for yourself.

Wells Fargo receives cash incentives every time they approve a homeowner for help and follow the guidelines of the stimulus plan. This money comes from over $75 billion in Government money which is allocated specifically to help homeowners. With the cash incentives, Wells Fargo and other participating mortgage lenders and banks are taking much less of a financial risk. With less financial risks they are able to approve and help even more homeowners. This makes refinancing and mortgage modification easier than ever.

The main point of the mortgage stimulus is to help homeowners who can not afford their current home loan payments, for whatever reason, and prevent foreclosures and mortgage defaults. This will be a great thing for many people who are seriously at risk of losing their home, and thousands of dollars in payments. This program makes it easier for homeowners with bad credit, bad mortgages, or other financial problems to get the help they need. Never before has such an extensive mortgage package been available to this many homeowners. Regardless of your finances, the Government believes that if your payments are affordable, you will make them and stay in your home. Also, all of the foreclosures and defaults have had an impact on home prices, making them drop to all time lows. Instead of risking losing money on a foreclosure, mortgage lenders and banks want to help homeowners. This is opposite of how things were just a few years ago when getting refinancing or modification for your home loan was nearly impossible unless strict requirements were met.

Getting help with your mortgage is easy. Contact Wells Fargo and ask about how refinancing or modifying your mortgage with the stimulus plan can benefit you. It is truly easy to get help, you need to ask for it though.

-M Petrone

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