Refinance with Obama’s Mortgage Stimulus Package
April 21, 2009
Author: Allison K.Watkins
Obama’s Mortgage Stimulus Package
By introducing the housing stimulus plan which is called the “Home Affordability Stimulus Plan”, the primary aim is to reduce the cost of borrowing and make borrowing an affordable option.
Extent of benefits in the ‘Home Affordability Package’ announced by President Obama
Existing home owners greatly benefit from this scheme. Home owners are offered refinance loans at reasonable rates even if they owe more than what their house can fetch them. This is indeed good news for all house owners, whose property values have dropped drastically. Although home owners tend to save more on refinancing, it is not always the right option. Mortgage Refinancing is a critical decision; any flaw will be a costly decision putting your house at stake.
Key points in Obama’s Mortgage Stimulus Package
Obama’s Home Affordability Plan has two key aspects or key points of focus.
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