| Right now, over 8 million homeowners can | | | | -Mortgage lenders, banks, and the Federal |
| refinance their mortgage into a fixed 2% interest | | | | Reserve, would like to see interest rates kept to |
| rate by using President Obamas mortgage bailout | | | | a low 2%. The thought is that if a homeowners |
| plan. This program will make it much easier, and | | | | monthly payments are low enough, they will be |
| more beneficial, for a homeowner to get a | | | | able to make them, and keep their home. |
| mortgage refinancing or modification and save | | | | -Prevent foreclosures by offering homeowners |
| their home as well as money every month. | | | | stimulus plan options before their situation gets |
| Here are some of the biggest points of Obamas | | | | worse. To do this, interest rates can be lowered, |
| stimulus plan: | | | | monthly payments can be lowered, and the length |
| -Homes which have dropped in value, by up to | | | | of the home loan can be extended. |
| 25%, can now easily get help with refinancing or | | | | With so many homeowners going through tough |
| mortgage modification. Many homes have dropped | | | | financial problems, this program from President |
| in value since the housing market and economy | | | | Obama will help homeowners who are having a |
| are so bad. This plan will allow many of these | | | | hard time paying the bills and mortgage payment. |
| homeowners get help with their upside down | | | | This is a great chance for a homeowner to get a |
| mortgage. | | | | better, more affordable mortgage payment, and |
| -The process is now much easier and clear cut | | | | save a lot of money throughout the course of |
| for all homeowners looking into refinancing or | | | | the home loan. Contact your lender or bank and |
| modification. | | | | see how this stimulus plan can help you. |
