Mortgage refinancing options now exist for nearly any homeowner thanks to President Obamas stimulus plan. This program will offer homeowners interest rates as low as 2% and other huge benefits. Here are some things people need to know about refinancing a mortgage with Obamas stimulus plan.

This program has been enacted due to the all time high number of foreclosures and defaults. Millions of homeowners are struggling and having a hard time making their monthly home loan payments. This plan is designed to assist nearly any homeowner get a lower monthly payment, better interest rates, and prevent foreclosure and loan default. Over $75 billion in funding is available for Obamas stimulus plan and this money is they key to how homeowners can get help.

This money is being given to mortgage lenders and banks when they help a homeowner with a mortgage refinancing and it follows Obamas stimulus plan guidelines. The money enables mortgage lenders and banks to offer new options to millions of people who would have had a hard time getting a beneficial approval before this program existed.

Some of the benefits for homeowners using this stimulus plan include:

-2% home mortgage interest rates

-No closing costs or fees

-Easy eligibility requirements

-Options for people with upside down mortgages

Never before has a stimulus plan this big been available to so many people. Homeowners need to take action now and contact a mortgage lender or bank to use Obamas stimulus plan and refinance a mortgage. The longer a person waits, the more money they will lose and the worse their financial situation will get. Do not just sit there and hope for help, go out and get it.

-M Petrone

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