Government Mortgage Refinance Plan – Save Your Home with Low Mortgage Rates
Posted on | February 3, 2010 | No Comments
The government mortgage refinance plan was created to allow current homeowners to refinance their mortgage rate to a lower level. There’s a very good chance that you could save your home with lower mortgage rates if you refinance in the current low interest rate environment.
Pres. Obama and his staff have worked very hard to keep interest rates low for an extended period of time. Since the beginning of 2010 mortgage interest rates have been below 5% for the 30 year fixed rate mortgage. If you have been in the housing market for a significant period of time you know just how low this is for mortgage rates.
If you are having trouble making ends meet and paying your monthly mortgage payment then you might want to refinance to a lower mortgage rate. If you have a significant amount of equity in your home and a very good credit score then you are likely to be able to refinance to a rate that would save you a significant amount of money.
It would be wise to act sooner rather than later when it comes to saving your home. You do not want to wait until you are in the last stages of the foreclosure process. If you think that you might get into the foreclosure arena you want to refinance as soon as possible to save money.
Author: Jeremy North
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