Bank of America mortgage refinancing is now easier to get approved for thanks to President Obamas housing stimulus plan. This stimulus was designed to be easy for struggling homeowners to qualify for, and Bank of America is taking part. Here are some things homeowners should know about refinancing a home mortgage with Bank of America and President Obamas housing stimulus plan.

Bank of America is one of only a few mortgage lenders or banks who are authorized to offer homeowners mortgage refinancing options from Obamas stimulus plan. They get a cash incentive every time they approve a struggling homeowner for a mortgage refinance that saves them money, their home, or both. These cash incentives allow Bank of America to ease a lot of their refinancing restrictions and help more people. The Obama stimulus plan provides the incentives to selected lenders and banks to help struggling homeowners save money, and avoid losing their home. Without the incentives, many homeowners would have a hard time getting approved for a mortgage refinancing.

Foreclosures and mortgage defaults are at all-time highs right now and many homeowners are financially struggling. This $75 billion stimulus plan was passed to help millions of homeowners and help stabilize the housing market. Without this plan, many more homes would be lost and the entire economy would feel the effects.

Homeowners are encouraged to take advantage of this stimulus plan and get a mortgage refinancing. Bank of America mortgage refinance is easier than ever to get approved for and many struggling homeowners are eligible to get help. People should take action now and get help with a home loan refinance by contacting Bank of America to see what new options exist for them.

-M Petrone

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