Millions of homeowners are eligible to get a mortgage refinancing approval thanks to President Obamas $75 billion housing stimulus plan. This stimulus is designed to help struggling homeowners save money and prevent their home from being lost through new mortgage refinancing options that are easy to get approved for. Here is how a homeowner can take advantage of this plan to save a lot of money, their home, or both.

Before this stimulus plan existed, banks and mortgage lenders had strict requirements about who qould be approved for a money saving mortgage refinance. Now though, because of Obamas $75 billion stimulus plan, things have changed. This stimulus plan provides lenders and banks with cash incentives for every struggling homeowner they help. This money enables the lenders and banks to help more people than ever before, save them money, and prevent foreclosure. Now, homeowners with bad credit, no home equity, or other financial problems can get a mortgage refinancing approval that will save them a lot of money, their home, or both.

This stimulus plan also is keeping mortgage interest rates low, which millions of homeowners will benefit from. Right now, mortgage interest rates are near all time lows and are around 5% for a typical 30 year fixed rate home loan. Many homeowners are paying 10% or more in interest rates and a 5% reduction would dramatically reduce monthly payments, and save a homeowner a lot of money.

Homeowners are encouraged to get help and use Obamas stimulus plan to get a mortgage refinancing. Never before has it been this easy to get help with a home loan and save money. Homeowners should contact a mortgage lender or bank today to see what new options exist for them. Millions of homeowners are eligible to take advantage of this stimulus plan to save a lot of money, their home, or both. Take action now.

-M Petrone

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