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Obama Refinance Plan – Low Mortgage Payments to Help Avoid Foreclosure

Posted on | February 9, 2010 | No Comments



If you are looking to lower your mortgage payments to help you avoid foreclosure then you may want to do research on the Obama refinance plan. President Obama has done everything in his power to make sure that all homeowners have access to historically low mortgage interest rates. At the present time the conventional 30 year fixed mortgage rate is at 4.82%.


With 30 year fixed mortgage rates well below 5% now is one of the best times in history to refinance. Unfortunately it has been very difficult for some homeowners to gain access to these low mortgage interest rates. While not everyone will be able to lock in to rate this low there are still many opportunities today.

By simply doing some Google searches you will find that there are many mortgage lenders that are advertising mortgage rates under 5%. Please understand that you must have a significant amount of equity in your home and a credit score above 740 to have any opportunity to refinance your current home loan rate to a level below 5%.

Make sure to do your research and find out which lender will work best in your area. Most mortgage lenders are more than willing to go above and beyond to assist you but make sure to find a company that will also offer some incentives in the current low interest rate environment.

Author: Alan Lake



Category: Uncategorized

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