sapan | Uncategorized | June 17th, 2010 Comments Off
Home Mortgage refinance options now exist for millions of people thanks to President Obama’s home mortgage stimulus plan. This program makes refinance a home mortgage into a lower monthly payment and interest rates simple for homeowners in any financial condition. Here is what homeowners should know about using the Obama mortgage refinance plan for themselves.
Over $75 billion in Government money is individual used for this home mortgage stimulus program. This money is keeping interest rates low, and making it probable for nearly any homeowner to get approved for a beneficial mortgage refinancing. That is because this program provides cash incentives to mortgage lenders and banks that follow the guidelines of Obama’s program and assist homeowners. This money allows new mortgage refinancing options to be offered to many people who are facing financial troubles.
The aim of President Obama’s stimulus is to decrease the high amount of foreclosures and mortgage defaults homeowners are facing right now. This stimulus plan will help millions of individuals, entire neighborhoods, the housing market, and the overall economy. Another way the money is being used it to keep mortgage rates low for all homeowners, and it is working. Right now mortgage interest rates are under 5%, nearly half of what interest rates were 10 years ago. The general rule of thumb when refinance a home mortgage is if you can save 2% or more in interest rates, you will save money and see a advantage.
Take advantage of this home mortgage refinance stimulus program and start saving money on your next home loan payment. Never before has refinancing a mortgage been this easy for this many people. Contact a mortgage lender or bank today and see what mortgage refinance options are right for you using Obama’s stimulus plan.