Homeowners all across the country are struggling to find a way to save money, and prevent their home from being lost. In an effort to help, the Obama administration has announced the “Making Home Affordable” plan. This program offers homeowners 2% mortgage interest rates and other benefits through new mortgage refinancing options. Here is how to use this plan for yourself, and get help refinancing a mortgage.

This program is available to millions of people who are suffering financial hardships. These hardships are numerous and can include things like losing a job, reduced income, medical bills, or credit problems. Homeowners with these problems, and a lot more, can easily get help obtaining a better, and affordable, monthly mortgage payment through refinancing with Obamas stimulus.

Some big benefits of refinancing a home loan with President Obamas stimulus plan include:

-Low monthly mortgage payments that are not any more than 31% of a homeowners gross monthly income.

-Easy qualification requirements which make millions of people able to actually get approved for a mortgage refinancing.

-Mortgage interest rates that can be lowered to as little as 2%.

-Home loans can be extended in length, or other terms and conditions may change to lower the monthly home loan payment amount.

Homeowners who want to benefit from this housing stimulus program should contact a mortgage lender or bank and apply. Something that all of them will require though is a “Letter of Financial Hardship” that basically sums up your problems, your potential solutions, and how important saving your home is to you.

This stimulus program will benefit millions of people. However, it will not find you, you must go out there and get help before your situation gets worse. Take action today. Save your home or a whole lot of money through refinancing a home loan with the housing bailout plan from Obama.

-M Petrone

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