Mortgage modification and refinancing are easier than ever to get approved for thanks to President Obamas housing stimulus plan. This stimulus has over $75 billion backing it up and is designed so that nearly any homeowner can take advantage. Here are some things homeowners need to know about refinancing a mortgage with Obamas housing stimulus plan.

This housing stimulus plan has been enacted due to a struggling economy and housing market. Foreclosure and mortgage default rates are at all time highs, and there expected to go even higher. However, millions of people are now eligible to get a mortgage refinancing or modification into a better, and more affordable, monthly home loan payment. Refinancing or getting a home loan modification with Obamas stimulus will enable homeowners to take advantage of low interest rates and new mortgage options. Before this stimulus plan existed, many homeowners were helpless and could not get approved for mortgage refinance or modification. Now though, things are different, and struggling homeowners have a much better chance to get the approval they need.

Homeowners are encouraged to use this stimulus, even if they have bad credit, no equity, or other financial problems. Before this stimulus plan existed, homeowners all across the country were having a hard time getting a mortgage modification or refinance. Things have changed because of this stimulus plan, and struggling homeowners can benefit.

Never before has a stimulus plan this big been enacted that can help so many people. Homeowners should take action and take advantage. Do not lose your home or pay more than you have to every month, take action and contact a mortgage lender or bank today to see what new options exist for you.

-M Petrone

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