Millions of homeowners can get themselves into a 2% mortgage rate with new refinancing options from Obamas housing stimulus. This program, called the “Making Home Affordable” plan is designed to help as many as 8 million homeowners. Now, millions of people can get approved for a mortgage refinancing, save money, prevent foreclosure, and more. Here are some things people should know that will help them save money through Obamas stimulus plan.

Homeowners facing financial hardships, bad credit problems, an upside down mortgage, or more, can now get approved for a mortgage refinancing with Obamas stimulus plan. This plan is designed to make it easy for a homeowner, regardless of their finances, to get a mortgage refinance that will save them money, prevent their home from being lost, or both. This is possible because of money that is going to be given to mortgage lenders and banks every time they help a homeowner, and offer them a refinance option from Obamas plan. This money enables them to take on more, and riskier borrowers. This means that the millions of homeowners with problems, can get help.

This money is also being used to keep overall mortgage interest rates low. Currently, 5% interest rates are common for a typical 30 year fixed mortgage. This is nearly half of what rates were 10 years ago, and can save a lot of people a lot of money. Also, rates so low offer mortgage lenders and banks some room to work with in figuring out how much you can afford every month, and how to get the payments to that level.

Now is the time to take action and refinance a mortgage with Obamas stimulus plan. Never before has such a program been enacted that has the potential to help so many people. Take action now before it gets harder to refinance a home loan.

-M Petrone

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