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Millions of struggling homeowners across United States have benefited by securing a mortgage refinance loan, with interest rates as low as 2%, through the Obama stimulus refinance plan. The government schedule has been instrumental in helping qualifying borrowers to lower their monthly mortgage installments drastically and thus, save hundreds of dollars every month on mortgage payments. This in turn has enabled distressed home makers to avoid foreclosures despite facing enormous financial hardships or having lost jobs. Thousands of borrowers could be still eligible for the low interest rate home refinance loan under the federal program.

If you are considering refinancing your current home mortgages using Obama’s stimulus, here is something that you need to know.

Benefits Offered By The Obama Mortgage Refinance Plan

You could apply for the Obama mortgage refinance loan if you have been finding it hard to pay off your existing home mortgages. By qualifying for the Obama stimulus program, homeowners could secure the much needed respite from their mortgage debts. You could be able to obtain an extremely beneficial mortgage refinance loan which would enable you to prevent your homes from being foreclosed besides saving lots of money over the entire term of the new refinance home loan. The biggest advantage that is provided by the government refinance plan is that you could refinance your home regardless of your current credit status. The $ 75 billion package which supports the federal refinance plan manages to keep mortgage rates significantly low and it is this striking feature that makes it an attractive proposition.

If you can qualify for a low rate mortgage refinance loan with the Obama stimulus program, you could derive huge benefits. Some of these are mentioned below.

• Get 2% rate of interest which will lower your monthly mortgage payments.
• Obtain extended home refinance loan duration to keep your installments low.
• Even if you are upside down on your present mortgages, you could get an approval.
• Possible to get approved although you have bad credit or are faced with financial hardships.

Nevertheless, securing a low interest rate California mortgage refinance loan could be a challenging task. This necessitates the urge for expert help which could make your task of understanding the Obama refinance program guidelines and process requirements much easier and help you to prepare correct and accurate documentation which is vital for getting an early approval.