Low mortgage rates, affordable monthly payments, and being able to avoid losing your home to foreclosure or mortgage default are the main benefits of President Obamas stimulus plan. Millions of homeowners are now able to get a mortgage refinancing that will save them money and stop foreclosure thanks to a $75 billion housing stimulus plan from the Obama administration. Here are some benefits for homeowners who take advantage of the new mortgage refinancing options.

Right now, foreclosures and mortgage defaults are at all time highs. In an effort to reduce this number and restore stability to the housing marker, Obama enacted his “Making Home Affordable” stimulus plan. This program keeps interest rates low and provides money for mortgage lenders and banks who offer mortgage refinancing options to homeowners that are in accordance with the stimulus plan. This means that mortgage lenders and banks are very likely to offer homeowners, in all types of financial hardships, mortgage refinancing options that are from President Obamas stimulus plan.

The benefits of refinancing a mortgage with Obamas plan can save homeowners thousands of dollars, and their home from being lost. Some of the bigger benefits and perks of refinancing with the Obama plan include:

-No closing costs or fees. Refinancing a mortgage with Obamas stimulus will cost you absolutely nothing.

-Easy qualifying terms and conditions. Homeowners that owe more than their home is worth, have bad credit, are facing financial hardships, or a lot of other problems can easily get approved for mortgage refinancing from Obamas stimulus.

-The total amount a homeowners monthly mortgage payment will be is not to exceed 31% of their gross monthly income. This includes taxes, insurance, and homeowner fees.

-Foreclosure and mortgage default proceedings are immediately halted when a homeowners refinances a mortgage with the housing stimulus plan.

Overall, the plan will help millions of people, entire neighborhoods, and the overall housing market. Never before has refinancing a mortgage been this easy for this many people. Taking action and preventing your home from being lost is easier to do than ever before. Save money, save your home, and better your financial future by refinancing a mortgage with President Obamas stimulus plan.

-M Petrone

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