Millions of homeowners are now eligible to get a money saving, foreclosure preventing mortgage refinancing approval thanks to President Obamas stimulus plan. This recently enacted housing stimulus program is designed to help nearly any homeowner, in any financial situation, get approved for a beneficial, no cost, low interest rate, mortgage refinancing. Here are some things homeowners should know about how to get a home loan refinance with Obamas $75 billion housing stimulus plan.

This stimulus plan was actually designed to help struggling homeowners. Now, homeowners with bad financial situations, including bankruptcy, no job, an upside down home loan, bad credit, and more, can get approved for a no cost, low interest rate mortgage refinancing. The goal of the stimulus program is to help homeowners, and prevent more foreclosures and mortgage defaults from happening. These new mortgage refinancing options exist because of cash incentives lenders and banks will get from offering help to struggling homeowners.

The cash incentives have allowed many mortgage lenders and banks to ease their lending restrictions, and approve more applications. However, the lenders and banks will only get the incentive money if they help a homeowner, and follow the rules of Obamas stimulus plan. This means that the lenders and banks are offering truly beneficial, no cost, low interest rate mortgage refinancing options, just to comply with the Obama housing stimulus. Many lenders and banks are actually actively looking for struggling homeowners to help.

Millions of people are now able to get a mortgage refinancing that will save them a lot of money, prevent a foreclosure, or both. There has never been so much help available for a struggling homeowner as there is now. Many people have already taken advantage, but many more can still. Homeowners should get in touch with a lender or bank to see if any new home loan refinancing options exist for them because of the Obama stimulus plan.

-M Petrone

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