Homeowners looking for help with their home loan are in luck. President Obamas $75 billion housing stimulus plan is designed to help struggling homeowners save a lot of money, prevent their home from being lost, or both. Here are some things homeowners need to know about this housing stimulus plan and how to benefit from it.

Millions of homeowners are struggling to make their monthly home loan payments, and many are at risk of losing their home to foreclosure or default. Because so many people needed help, the Obama administration enacted a $75 billion housing stimulus plan that is designed to help homeowners save a lot of money, their home, or both. Now, new mortgage refinancing options exist that are no cost and have low interest rates. Most importantly, these new mortgage refinance options are easy to get approved and qualify for.

Now, because of this housing stimulus plan, many mortgage lenders and banks are eligible to receive cash incentives for helping struggling homeowners get a beneficial mortgage refinancing. These cash incentives allow the lenders and banks to approve more applications than ever before, and take on more “at risk” homeowners. The only way that a lender or bank can get these incentives though is by following the Obama stimulus plan rules. This means that nearly any homeowner, with any financial problem, can now find help getting approved for a no cost, low interest rate mortgage refinancing.

A lot of people have already used this housing stimulus plan to get help with their home loan, but many more people are still eligible. Homeowners are actually being told to contact mortgage lenders and banks to see what new mortgage refinancing options exist for them because of the Obama housing stimulus plan. There is help available and it is easy to get thanks to this $75 billion program. Homeowners should take action and take advantage of this stimulus plan now while it still exists and get a beneficial, low interest, no cost mortgage refinancing.

-M Petrone

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