President Obama has enacted a mortgage stimulus plan that will help millions of struggling homeowners. This stimulus, called the “Making Home Affordable” plan allows people in almost any financial situation to refinance into a new home loan with 2% interest rates. Here is what people need to do and know about using this Obama stimulus plan for themselves.

This plan is funded with over $75 billion in Government money. All of this money is being used to keep interest rates low, and provide new refinancing options for nearly any homeowner. The goal of this program is to stabilize the housing market, and prevent more homes from being lost to foreclosure or mortgage default. Many people will benefit, save money, and prevent their home from being lost.

Homeowners with bad credit, financial hardships, an upside down mortgage, or other financial issues can easily get approved for a mortgage refinancing. This is because money is being given to mortgage lenders and banks who agree to follow Obamas stimulus plan and help homeowners. With this money, the lenders and banks are able to help more people than ever before. This money is a sort of insurance policy that will help them cover potential losses should a homeowner still not be able to make their home loan payments.

There has never been a better time to refinance a mortgage than right now. Government money is being used to help nearly any homeowner save money, and secure their homes future. Do not be another victim to a bad housing market and horrible economy, take action now. Contact a mortgage lender or bank today and see what options exist for you from Obamas stimulus plan.

-M Petrone

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