Mortgage Foreclosure Prevention and Refinancing Options With Obama's Stimulus Plan

Sept. 22, 2009 - PRLog -- President Obama's housing stimulus plan allows mortgage refinancing and modification benefits never before seen. Homeowners in all different situations can easily use this plan to get a better mortgage, save money every month, or even stop a pending foreclosure.

Here is what you need to know:


This "Making Home Affordable" plan is a part of President Obamas overall stimulus package to help restore the economy. An estimated 9 million homeowners can avoid foreclosure and get refinancing or a loan modification which will help them get an affordable home loan.


Right now:


-Millions of homeowners who have been making their second mortgage payments in full and on time every month are suffering from dropping home values, and are unable to get a refinancing into a lower interest rate.


-Homeowners everywhere have lost their jobs, wages reduced, or hours shortened, and are facing severe money problems and paying their mortgage is a constant struggle.


-Foreclosures destroy neighborhood and home values by as much as 9% for the surrounding area of the foreclosed property.


Here are some ways which homeowners will be able to find financial relief with this stimulus plan for their mortgage:


-Homeowners who have seen their property values drop by 15% or more can get assistance reducing their home loan payments every month.


- Home loan modification is an easier, better process for homeowners.


-Interest rates will be kept low to assist homeowners even more.


-Provide help for homeowners before they are foreclosed on or default on their loans.


This plan is working, and can work for you. Get the help you need, and use this plan for your home loan.

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