Home mortgage refinancing is a great way to save money and prevent your home from being lost. President Obama recently announced a stimulus plan that makes refinancing a mortgage easier, and more beneficial, for millions of homeowners. Here is why homeowners should refinance their home loan with Obamas housing stimulus plan.

Refinancing a mortgage was not always possible or beneficial unless a homeowner had a good amount of equity in their home, a large amount of cash for the closing and prepaying of points, and a decent credit rating. These days though, millions of people are struggling to make ends meet due to a bad housing market and horrible economy. That is why President Obamas plan makes refinancing a mortgage right now a great decision for many people.

This stimulus plan from President Obama allows homeowners facing all types of financial hardships to get help refinancing or with a mortgage modification. Using this program, homeowners can be facing a number of financial problems and still get help. Here are some of the most common problems people are facing and how Obamas plan helps:

-Homeowners can lower their monthly payments by refinancing into a lower interest rate or changing the length of their home loan.

-Homeowners can owe up to 25% more on their mortgage than their home is actually worth. This will help many people in neighborhoods that have seen property values drop.

-There are no closing costs or other fees for homeowners who refinance with Obamas stimulus plan.

-People with bad credit or financial problems like a loss of a job, medical bills, or bad debts can use Obamas stimulus plan and still get a beneficial mortgage refinancing.

This program from President Obama is designed to help millions of people save money, and prevent their home from being lost, regardless of their finances. Getting help refinancing a home mortgage has never been easier than it is now. No matter what your problems are that you think will hold you back, odds are Obamas plan will help you. Contact a mortgage lender or bank today and see what options exist for you.

-M Petrone

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