Fannie Mae and Freddie Mac are now offering nearly every homeowner a mortgage modification or refinancing option that will save them a lot of money, their home from being lost to foreclosure, or both. This is all possible because of President Obamas $75 billion housing stimulus plan which mandates that struggling homeowners get options to help them save money, and their homes. Here is what homeowners need to know about getting a mortgage modification or refinancing with Fannie Mae or Freddie Mac and Obamas housing stimulus plan.

President Obamas housing stimulus plan allows millions of struggling homeowners to get a mortgage refinancing or modification approval with a low interest rate. In the past, homeowners who wanted to refinance with either Fannie Mae or Freddie Mac needed to meet a lot of requirements and other things to get approved. Now though, because of the stimulus plan, things have changed and both Fannie Mae and Freddie Mac must now offer nearly any homeowner a mortgage refinancing option that will save them a lot of money, their home, or both.

Because of this stimulus plan, homeowners with bad credit, little or no equity in their home, bad credit, or other financial problems can get help with a home loan and save a lot of money. There has never been so much help available for struggling homeowners, and Fannie Mae and Freddie Mac are required to offer it. Fannie and Freddie are two of the largest lenders in the country and combined make up almost half of all home mortgages. Millions of homeowners are able to get a mortgage modification or refinancing into a lower interest rate that will save them hundreds of dollars per month, their home, or both.

Homeowners are actually encouraged to take advantage of this stimulus plan and get help with a mortgage refinancing or modification. It has never been easier for a struggling homeowner to get help with a problematic home loan. Homeowners should contact Fannie Mae or Freddie Mac today to see what new home mortgage refinancing options exist for them because of the Obama stimulus program.

-M Petrone
http://www.RefinancingCondo.com

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