Right now there are new mortgage refinancing options that nearly any homeowner can take advantage of. President Obamas “Making Home Affordable” housing stimulus plan was actually designed so that struggling homeowners with financial problems can save money, prevent a foreclosure, or both. Here is what homeowners need to know about refinancing a home mortgage with Obamas $75 billion housing stimulus plan.

This stimulus plan was designed so that it is easy to take advantage of, no matter what financial problems a homeowner may be facing. This stimulus plan is keeping home loan interest rates low, and providing cash incentives to participating mortgage lenders and banks. The cash incentives allow the mortgage lenders and banks to approve more homeowners than ever before, no matter what financial problems may exist. Because of the cash incentives, many lenders and banks have eased their refinancing restrictions and are approving more applications than ever before.

In the past, before this stimulus program existed, homeowners would need to have good credit, equity in their home, a stable job, and a verifiable income. Now though, things have changed and homeowners with nearly any financial problem can get a mortgage refinancing approval that will save them a lot of money, their home from being lost to foreclosure or default, or both. Even homeowners who have been denied a home loan refinance in the past are getting the approval they need to secure their home and help their finances.

Homeowners are being encouraged to take action and take advantage of this housing stimulus program from President Obama. There has never been this much help available to homeowners, no matter what financial problems they may be facing. People should contact a mortgage lender or bank today to see what new mortgage refinancing options exist for them due to the $75 billion Obama housing stimulus plan.

-M Petrone

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