Right now is a great time for struggling homeowners to refinance their mortgage and use President Obamas $75 billion “Making Home Affordable” plan for themselves. Getting approved for a refinance with Obamas stimulus is easy, and homeowners who use it will save a lot of money, prevent foreclosure, or both. Here is what homeowners need to know about Obamas stimulus plan.

This stimulus plan is designed to make it easy for nearly any homeowner to get approved for a mortgage refinancing. This is possible because of the $75 billion in Government money. This money is being given as cash incentives to lenders and banks who offer struggling homeowners a solution that follows the guidelines of the Obama plan. Some of the biggest benefits of the Obama plan that homeowners will see are:

-Mortgage payments every month will not be greater than 31% of a homeowners gross monthly income.

-Interest rates that can be reduced to as little as 2%.

-No cost or fees when getting a mortgage refinancing through Obamas plan.

-Easy approval requirements that allow homeowners with an upside down mortgage, bad credit, or other financial hardships to get approved for mortgage refinancing.

Millions of homeowners across the country are in bad shape. This stimulus plan is a great way for many of them to get their finances in order, save money, and prevent their home from being lost. The cash incentives make mortgage lenders and banks more likely to help more people, including those with financial problems or upside down mortgages.

Homeowners need to use this plan for themselves to prevent their situation from getting worse. Take action and use Obamas plan for yourself and get a mortgage refinancing. The benefits are so great that millions of people will save a lot of money, and their homes.

-M Petrone
http://www.RefinancingCondo.com

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