Mortgage refinancing with bad credit is easy thanks to President Obamas stimulus plan for homeowners. Never before has the Government stepped in and offered so many homeowners mortgage relief. Homeowners with bad credit, an upside down mortgage or other financial hardships can easily get a mortgage refinancing that will lower their monthly payments, help them avoid foreclosure, and save money. Here are some things to know about President Obamas stimulus plan for homeowners refinancing a mortgage.

Bad credit, upside down mortgages, or financial hardships have often kept a homeowner from being able to get a beneficial mortgage refinancing. However, things have changed and President Obamas stimulus plan now provides new mortgage refinancing options for millions of homeowners, regardless of their financial position. With over $75 billion in funding to help struggling homeowners, getting help refinancing a mortgage right now is easier than it ever has been before, and a lot of people are eligible.

The $75 billion will be mainly broken down into small cash incentives and given to participating mortgage lenders and banks. Every time an approved lender or bank offers a struggling homeowner a mortgage refinancing option that follows Obamas guidelines, they will get a cash incentive. This means that even homeowners who have lost a job, owe up to 25% more than their home is actually worth, have been denied before, or have other financial problems can get mortgage refinancing help, save money, and save a home from being lost. This stimulus program had to be enabled in order for the housing market, and millions of homeowners, to have a chance at recovering.

Refinancing a mortgage
can be a great thing for many people to do. Interest rates are low and stimulus programs for homeowners will keep monthly payments affordable, help you avoid foreclosure, and save you money. Millions of homeowners can benefit from Obamas stimulus plan if they refinance their mortgage with it. Contact a mortgage lender or bank today and ask how you can use Obamas plan for yourself.

-M Petrone

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