mortgage stimulus

Mortgage refinancing and modification are great ways for a homeowner to take control of their finances, reduce the monthly loan payment, or get some cash back from the equity you have built up in your home. Especially these days, mortgage refinance is very popular. There are new Government programs, and super low interest rates which make refinancing better and easier for millions of homeowners.
Big Mortgage Refinance Benefits from Obamas Stimulus
Author: MPetrone
Mortgage refinancing and modification are great ways for a homeowner to take control of their finances, reduce the monthly loan payment, or get some cash back from the equity you have built up in your home. Especially these days, mortgage refinance is very popular. There are new Government programs, and super low interest rates which make refinancing better and easier for millions of homeowners. Homeowners need help. Right now, foreclosures and mortgage default are at all time highs. This is wrecking the housing market even further, and driving down home values. Many mortgage lenders and banks are very reluctant to take on newly foreclosed homes. In the past, lenders and banks would love foreclosing on homes, and then make a huge profit when they are resold. Now though, things have changed. The housing market is in bad shape, many homeowners are upside down on their mortgage, and millions of people are facing financial hardships of one type or another. With such a bad housing market, and so many homes being foreclosed on, lenders and banks are risking taking a loss every time a homeowner loses their home. This has made refinancing and mortgage modification much easier to get. Nobody wants to take on a home that is a potential loss, instead, mortgage lenders and banks are anxious to actually help homeowners get a better, more affordable, monthly home loan payment. Some of the biggest benefits of this stimulus plan are: -Interest rates lowered to as little as 2% to keep the monthly payments truly affordable for homeowners. -People who owe up to 25% more than the mortgage is worth can now get the help they need. This would have been hard to do before these programs existed. -Homeowners facing a financial hardship or other problems can much more easily get the help they need, save their home, and save a lot of money. -There will be no closing costs or fees associated with these mortgage refinancing options. This will save a homeowner thousands of dollars. Millions of people will get help, and save their home. This plan is a $75 billion effort to assist homeowners get a better mortgage. Take advantage of this program today and save a lot of money, or your home from being lost.
Article Source: http://www.articlesbase.com/mortgage-articles/big-mortgage-refinance-benefits-from-obamas-stimulus-1538911.html
About the Author:
I have been underwriting mortgages for years. Recently, I got into a new business but I still wish to share my advice, tips, and industry inside happenings of the mortgage refinancing industry.
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