San Mateo, CA (PressExposure) April 18, 2011 -- Obama mortgage stimulus plan is helping the struggling homeowners to lower their monthly mortgage payments and make them affordable. $75 billion has been funded for this plan and even incentives are provided to the mortgage servicers and lenders who refinance the mortgage of the struggling homeowners.
Mortgage refinancing is a great option to save home from foreclosure and save money every month. Many people are taking the advantage of the lower interest rates which are provided by the Obama mortgage stimulus plan. Loansstore also provides mortgage refinance services and helps people to modify their mortgage at lower interest rates. Below given are few reasons as how a home affordable refinance program benefit a person.
Many people are aware of the fact that President Obama has announced a stimulus plan but they are unaware as what this Obama mortgage assistance program [http://www.loansstore.com/mortgage-refinance-loans/obama-mortgage-refinance-plan.php] can do. This stimulus plan is designed to prevent the foreclosures of the homes and to make the monthly payment affordable. This is done by the new mortgage refinancing options which is available to every homeowner. Nearly $75 billion has been funded for this plan. The mortgage lenders and banks can help homeowners with their financial hardships, upside down mortgages and other problems.
Incentives are also paid to the lenders and the mortgage servicers who help the homeowners to lower their mortgage. $75 billions are used to keep the mortgage low and help the homeowners. The incentives are given to a mortgage lender when a homeowner receives mortgage refinance modification in accordance with the Obama stimulus plan. Thus the mortgage lenders and banks are ready to help the struggling homeowners and provide them relief.
According to the making home affordable program, the homeowner will be benefited by getting a better interest rates and their monthly mortgage payment would be lowered. According to the stimulus plan, those homeowners who get help from their lender for cash incentives don't have to pay more than 31% of their monthly gross income to their monthly payment. Everything from taxes, fees and other home ownership cost are included in this. Even the homeowners avoid paying closing cost and fees while using the Obama stimulus plan.
Contact Info :
Johnathan Y. Bostic
1534 Wolf Pen Road
San Mateo, CA 94403