President Obama has enacted a mortgage stimulus program that will help millions of people avoid losing their home to foreclosure or loan default, and help them save money. The “Making Home Affordable” stimulus plan is designed to assist struggling homeowners in getting a mortgage refinancing or modification into an affordable monthly payment amount. Millions of people are eligible to use this stimulus program for themselves. Here is how it works.

Over $75 billion dollars is being used to enable Obamas stimulus plan to help homeowners. This money is keeping mortgage interest rates very low, and providing new mortgage refinancing and modification options to homeowners in all types of financial situations. It seems to be working as right now mortgage interest rates are near all time lows. Also, many mortgage lenders and banks are reporting a lot of applications coming in for mortgage refinancing. This proves that homeowners are getting the message and realizing the refinancing a mortgage can be a great move. Especially with interest rates this low, and Obamas stimulus plan in place.

Te money also helps mortgage lenders and banks approve more homeowners who are in financial hardships and facing other problems. Using this plan, homeowners with an upside down mortgage, bad credit, bad debts, or other financial problems can still get approved for mortgage refinancing. This is because mortgage lenders and banks receive cash incentives to help homeowners, and follow the stimulus plan guidelines. That means getting help refinancing, regardless of your financial situation, is easier and more beneficial than ever.

Many homeowners can find help by using the Obama mortgage stimulus plan and by getting a mortgage refinancing. This plan is enabling millions of people to easily get help lowering their monthly payments, saving money, or preventing a home from being lost to foreclosure or loan default. Use this plan for yourself and take action now.

-M Petrone

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