Millions of homeowners are able to get approved for a home loan mortgage refinancing with interest rates at low as 2% thanks to President Obamas home affordable refinancing plan. This $75 billion stimulus plan is designed to assist nearly any homeowner, in any financial situation, get a low interest rate mortgage refinancing that will save them a lot of money off their monthly mortgage payments. Here are some things homeowners should know about refinancing a mortgage with President Obamas HARP stimulus for homeowners.

Many homeowners are barely able to keep up with their monthly mortgage payments. Millions of people have already lost their home to foreclosure and many more will unless their financial situation changes. This stimulus plan was created specifically for struggling homeowners to take advantage of and benefit from. Using this program will enable a homeowner to get a new home loan through refinancing. This new loan will have much lower interest rates than the prior loan did. Some homeowners will get an interest rate that is as low as 2%. Interest rates are at all time lows right now and many people will easily save hundreds of dollars per month in mortgage payments.

Now, homeowners with bad credit, no source of income, high income to debt ratios, or who have a mortgage that is worth more than the home is can get help. In the past, homeowners needed to have a good financial situation in order for a bank or mortgage lender to approve them for a low interest rate mortgage refinancing. Now though, because of President Obamas HARP, things are different. Lenders and banks are eager to help homeowners refinance a home loan due to cash incentives they get for following HARPs guidelines when offering a mortgage refinancing option to a struggling homeowner.

Struggling homeowners have never had this easy of a time getting help refinancing a home loan. Millions of people are able to take advantage of President Obamas 2012 HARP and get a very low interest rate mortgage refinancing for themselves. These refinancing options are designed for nearly any homeowner, with any financial problem, and are easy to get approved for. Homeowners who use this program will be able to save a lot of money, prevent or stop a foreclosure, and improve their overall financial situation. Contact a mortgage lender or bank today to see what benefits President Obamas HARP may have for you when refinancing a mortgage.

-M Petrone

Subscribe via email

Enter your email address:

Delivered by FeedBurner