Wells Fargo is now able to offer new mortgage refinancing and modification options for a lot of homeowners. This is possible because of President Obamas “Making Home Affordable” plan. This plan is aimed at helping the millions of homeowners who are at risk of losing their home, or who are paying too much for their mortgage every month. Here is how you can use Wells Fargo and President Obamas stimulus plan to help you refinance a mortgage and save money, your home, or both.

Wells Fargo mortgage refinancing options exist even if a homeowner has bad credit, an upside down mortgage, or is facing financial problems. This is because of over $75 billion in money given to mortgage lenders and banks every time they help a homeowner. However, only a few mortgage lenders or banks are able to offer these programs to homeowners and Wells Fargo is one of them.

This money only will be given when a lender or bank follows the programs guidelines set by the Obama administration. This means that many benefits will be available to millions of homeowners who want or need to refinance a mortgage such as:

-Homeowners will not need to pay over 31% of their monthly income to their home loan. To do this interest rates can be reduced to as little as 2% or the home loan can be extended in length. Sometimes both things will need to be done to get the payments low enough.

-The ability to get help and an approval for refinancing a mortgage with bad credit. This money helps mortgage lenders and banks approve homeowners in all types of bad financial and mortgage situations. Plus they get cash incentives to help homeowners. This means it is easier than ever to get help, regardless of your situation.

-There will be no closing costs or fees for homeowners who refinance with Obamas stimulus program. This will save homeowners thousands of dollars which they probably do not have due to such a bad housing market and economy.

-Homeowners in foreclosure can stop or avoid it altogether by using this program. As soon as a homeowner sign a mortgage refinancing agreement according to Obamas stimulus plan, any foreclosures are halted. This will save many peoples homes.

Wells Fargo can help homeowners refinance a mortgage. Contact them today and see what options exist for you. Odds are you will find that refinancing can be very beneficial for you, especially with Obamas stimulus plan. Contact Wells Fargo now and ask about refinancing with Obamas stimulus program.

-M Petrone

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