2010 Mortgage Refinance and Modification Options from Obamas Stimulus

Author: MPetrone

Author: MPetrone

With such a bad housing market and economy, many homeowners can benefit from refinancing a mortgage. Also, low mortgage interest rates and new Government programs make refinancing a mortgage easier than ever for nearly all homeowners. Here are some benefits of mortgage refinancing that homeowners can take advantage of right now.

Currently, mortgage interest rates for traditional 30 year fixed mortgages are near all time lows. The Government has also enacted a $75 billion stimulus plan designed to help struggling homeowners save money, their home, or both through new mortgage refinancing options. This Government stimulus is helping keep interest rates low and also provides new refinancing options for many struggling homeowners.

This $75 billion will be broken down and given to mortgage lenders and banks who provide refinancing options to homeowners in accordance with the stimulus plan. This makes it much easier for homeowners who are behind on payments, have bad credit, are upside down in their mortgage, or who are facing other financial problems to get mortgage refinancing help. This program was enacted to combat the all time high number of foreclosures and loan defaults. Instead of letting millions of more people lose their home, the Government has stepped in to attempt to help the situation. Also, mortgage lenders and banks are more likely to assist struggling homeowners as opposed to letting them lose their home.

This type of economy and housing market makes taking a foreclosure on a risky proposition. Many homes are worth much less than when they were purchased and can end up actually costing the lender or bank money, especially with a housing market and economy in such bad shape. This means that mortgage lenders and banks are more willing to extend a beneficial mortgage refinancing option to homeowners in all sorts of bad financial problems.

Never before has so much help been available to struggling homeowners. If you are at risk of losing your home, have a hard time paying the monthly mortgage, or are facing other financial hardships, contact a bank or lender today. Ask them how refinancing a mortgage with Obamas stimulus plan can benefit you. Help is out there, you must go and get it.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.

For more articles on Mortgage Refinance check out my website

POST COMMENT

Fast Mortgages Finding The Best Mortgage Loan A Growing Problem Mortgage Fraud Reverse Mortgages Can Help Supplement Fixed Incomes Predictions For Mortgage Interest Rates For 2010 Give Your Business A Clockwork Precision With The Use Of Commercial Remortgage The Certified Guide On How To Avoid The Most Common Home Mortgage Mistakes Steps To Take After You Have Applied For A Loan Modification Mortgage Guide: A Mortgage Calculator Tool How The Budget Affects It Contractors Mortgage Ireland - What Are The Best Mortgage Options In Ireland Right Now? How To Get The Best Mortgage Rate - You Could Attain These All With Easiness! Take Advantage Of The Best Mortgage Broker, Quotes And Fixed Rate Mortgage Loans