Custom Search

Obama's Home Refinance Stimulus Plan to Save Your Home

We simply cannot turn on the television news without hearing about another company closing their doors. Talk to your neighbors, odds are good that they have either been laid off, had their hours cut, or maybe had benefits taken away. Take a walk down a busy street, you have probably bumped into a handful of people that are about to lose their homes. Each of us has been hit hard with all of the cuts being made during this economic crisis. Perhaps you are one of those handfuls on that busy street, about to lose your home. Maybe you now owe more than the house is worth, or maybe you just cannot make that monthly mortgage payment with that unemployment check. President Obama has two new ideas to help you save your home with his home refinance stimulus package.

The first option is the "Home Affordable Refinance" plan. This part of Obama's home stimulus package requires that you are current on your mortgage. Basically, this plan will lower your interest rates which in turn will lower your monthly payment. The principle owed will not change, just the interest rate. The equity you already have in your home will also continue to increase under this home stimulus plan. If you are current on your payments and the home is your primary residence, you have until June 10, 2010 to apply for this "Home Affordable Refinance" plan.

The second option under Obama's home stimulus package is the "Home Affordable Modification" plan. In order to qualify for this home loan modification, your primary residence housing expenses must be more than 31% of your total gross income. If you lost your job or had a major medical expense and can no longer afford your mortgage payments you should talk to your bank regarding this home loan modification process. The Treasury Department is willing to help with this home stimulus plan as well. Each month that you make your mortgage payment on time, they may make a payment that will apply directly to your principle. If you qualify for this part of Obama's stimulus plan, over a 5 year span the Treasury may pay as much as $5,000.00. You have until December 31, 2010 to talk to your bank about this loan modification help. The federal government is trying to save our homes!

by Scott A. Kennedy

35 comments:

Home Loans said...

I have already this Obama plan, but the easy home loans can make it difficult to pay back in future.

Anonymous said...

FHA loans information and obama's home refinance is a help to other people

Dorothy said...

Dear Site Owner,

I would like to say that your site (http://homeequity-loanrates.blogspot.com/ ) is well-written and it contains lots of useful and up-to-date information. We really got interested in your web resource and we would like to cooperate with you. My websites are devoted on various financial themes and the have got amazing traffic and Google Values.

My sites contains loads of useful financial information presented in news and articles that highlight the most much-talked-of issues such as credit cards, debt solutions, financial crisis, ways out of it, and many more. We believe this information can awake interest in your readers and can help you gain more and more traffics well. We would like to do some link exchange with your sites. If you agree then please let me know as per your convenience: dorothy786@gmail.com

Thanks! We look forward to working with you.


Warm Regards,
Dorothy Parker

Anonymous said...

I really liked your review. Nice information! Your content unique and meaningful about it. You doing very well job!.
Home Improvement
Thanks.

mercy said...

Avoid foreclosure with a loan modification also known as a loan workout . Loan modifications can lower mortgage payments and help stop foreclosure by modifying the terms of your mortgage loan.

Unknown said...

Hi,

Great Information!
thanks for sharing

_____________________
Repair Credit Score | Bad Credit Repair Advice

Unknown said...

Nice article.....Its really useful , you have selected wonderful article.... bad credit mortgages | best mortgage deals

Unknown said...
This comment has been removed by the author.
Unknown said...

My sister is in the US, she was having a hard time paying her debts because she just had a baby and his husband is not earning enough for their support. I think that Obama's Home Refinance Stimulus Plan is a great idea! After learning about this plan, my sister was able to talk to her bank regarding home loan modification process because she just had a major medical expense. The Home Refinance Plan will definitely give people hope, that they are getting all the help that they need and that they are not alone with their debts.

Here in Calgary, best mortgage rates are being offered to us by a number of banks and institutions. My wife, after consulting to a licensed mortgage broker, (Calgary, Alberta based) was able to take advantage of a good mortgage plan. Why good? Well, I can say that the rates are competitive and very suitable to us. Now, I know that we will be able to stay on top of our finances.

Unknown said...

it helps to boost mortgage homeowners refinance or modify their mortgage at a fixed rate of 4.5%. This is really great and really helpful!
debt consolidation home equity loan

Anonymous said...

I really liked your review! I think many still do not know how to solve financial issues rather that this one.
home equity loan lowest rate

Unknown said...

hi i like this post ,this is really informative,payday Loans ,thanks

tehseenfatima said...

Flower delivery service
I really liked your article. Keep up the good work.

tehseenfatima said...
This comment has been removed by the author.
Justin Bill said...

Buying a house is one of the biggest decisions you'll make in your life. In my hometown, we have highly trained (Pittsburgh) mortgage lenders to accommodate any housing loans queries. I can say that it is one of the best options of finding home plans for new buyers. Since the increase of house rate is very unpredictable, it is a must that a certain buyer is updated on the latest trend in mortgage rate, Pittsburgh. Very interesting post. Thanks.

blog said...

wow obama's is the best

loan insurance

Unknown said...

President Obama's stimulus plan to modify your home loan looks very promising, especially to the recently unemployed. Also in Calgary, mortgage company gives various rates that helps everyone to have a house to live in and still have the chance to save for their future at the same time.

In my case, before moving to my new home in Alberta, home mortgages has rates that makes it easier for me to move and save enough money for utilities.

anam said...

a good blog indeed

anam said...
This comment has been removed by the author.
Anonymous said...

I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
Thanks
Online Medical Transcription.

Anonymous said...

Moving to a new place has a lot of works to do. It is true that some of us had a hard time finding affordable homes. There are many ways to get good deals for buying homes like availing house foreclosures. In Daytona beach Florida, if you avail Daytona foreclosures homes, you can own your house easily.

Unknown said...

Hat’s off. Well done, as we know that “hard work always pays off”, after a long struggle with sincere effort it’s done.
This is a wonderful post. The things given are unanimous an needs to be appreciated by everyone.
--------
marqgibs

Mortgage Loans

ajay pandey said...

This is a wonderful post. The things given are unanimous and needs to be appreciated by everyone.
--------
dwilson1707
Mortgage Rate

Unknown said...

Really love all the posts you offer! I am so looking forward to seeing more like them….. Thanks Transcription Equipment

Anya said...

Hello,

I am Anya Bennett a financial writer. I write on several finance related topics like debt, loans, insurance, investment and so on. I came across your blog while surfing through the internet to find a suitable blog for writing articles. It is highly resourceful with rich and nice contents and has a vivid presentation. I must appreciate your hard work and wish you good luck.

I was wondering if you can allow me to write for your blog. I assure you to provide you an absolutely unique but relevant article so that it proves to be useful to your readers. I wish you consider this proposal and will wait for a reply from you.

If you are displeased with my email, I cordially regret in advance.

My Kind Regards,
Anya Bennett.
Email ID: anya.bennet@gmail.com

aldrin james said...

My mom is planning to get this new Obama plan but she doesn’t know where to start. I better show this post to her. This is what she needs for her to get this plan.

Utah mortgage loans

Fishysmommy said...

I don't qualify for the Obama plan. So I came up with one of my own. I'm selling 6,000 loaves of bread to gain enough capital to refinance. Visit http://6000loaves.blogspot.com

mike yardy said...

This seems to be a great site which offers Bad credit home loans ,Bad credit mortgages,Bad credit loan protection etc. and i would surely like to try their service...i had been relying on http://www.findabadcredithomeloan.com earlier and they too offered good stuff.

esif22 said...

Great resource.Thank you very much for the article My payday loan

Unknown said...

It was great information and it’s such an honor for me to read this kind of blog. Thank you for sharing this wonderful blog.



makati condo

vishal said...

If you are looking for best mortgage rates in BC and Vancouver. Visit at www.bestratesbc.com or Call today for the Best Mortgage Rates in BC 604-980-5459.

Unknown said...

Now in an effort to battle this unique problem Home Refinance Loan have recently end up a crucial portion of todays busy lifestyles.this blog is very helpfull all home refinance bloggers.

Unknown said...

Well, they should work this things out very well so that people could really benefit from it. And, they should make sure that those who needs it really gets it.

texas real estate license

Unknown said...

Please one more post about that.I wonder how you got so good. This is really a fascinating blog, lots of stuff that I can get into. One thing I just want to say is that your Blog is so perfect
Refinancing

devis said...

Loan modifications can lower mortgage payments and help stop foreclosure by modifying the terms of your mortgage loan.

First Blue Home Finance Home Loan

Custom Search

Enter your email address:

Delivered by FeedBurner

About Me

My photo
Welcome to my Blogs.I'm provide sufficient great articles information,tips low-cost,frequently asked questions and guide to buying.Health Insurance,Life Insurance,Home Mortgage Rate,Home Equity Loan,Home Refinance,HELOC and Home Equity Poor Credit.Nice to meet you.