Obama Refi Plan is Not Housing Stimulus

Due to these problems, the Obama administration has introduced the housing and homeowner stimulus plan. This plan was announced in February and has started this month. Most people no longer have 20% equity in their homes, which is typically required for traditional mortgage refinancing, due to the dropping home prices.

The Obama Mortgage, Refinancing, and HARP The official government website for Making Home Affordable has a list of options for borrowers who need mortgage help. Choosing the right program depends on your needs.

saying that the votes didn’t go through for the lower mortgage rate of 4.0 as part of Obama Stimulus plan. If you read/heard of this stimulus plan, please share with me. I am thinking of refinancing my mortgage with a lock in rate of 4.8% + 1 point that would expired end of this week.

– PRLog — President Obama’s housing stimulus plan is designed to help distressed homeowners faced with financial hardships. This could enable house makers to save their homes from a possible foreclosure and save a lot of money if qualified for a federal home loan modification.

President Obama announced a harp (Home Affordable Refinancing Program) stimulus, stuff designed to help financially struggling homeowners get affordable loans and lower their monthly payments. To refinance a mortgage or first approval for the change with low interest rates is easier to do than ever before, illness for almost every homeowner.

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FACT SHEET: President Obama’s Plan to Help Responsible Homeowners and Heal the Housing Market In his State of the Union address, President Obama laid out a Blueprint for an America Built to Last , calling for action to help responsible borrowers and support a housing market recovery.

This mass refinance plan is intended to help millions of Americans benefit from low interest rates and consequently get lower monthly payments. The obama refinance plan will help qualifying borrowers save hundreds of dollars a month and stimulate the struggling housing market and the economy in general.

Do know if you qualify for President Obama’s "Making Home Affordable" Mortgage Refinancing and Modification plan? Do you know the eligibility requirements and where to start your search for a piece of this $75 billion plan? Well here is a great place.

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