Fixed Rate Refinance Today – Bank of America Mortgage Plan for Homeowners
Posted on | March 26, 2010 | No Comments
Many Americans are looking to get a fixed rate refinance today so they can lower their monthly mortgage payments. Recently, Bank of America announced they are going to take part in a principal reduction plan to help those who are having difficulty making their mortgage payment yet they cannot refinance either.
To take advantage of a fixed rate refinance you will need a large amount of home equity and a credit score above 740. If you do not meet these requirements then it is going to be very difficult for any mortgage lender to qualify you for a low refinance rate in the current economic environment.
Today we are going to learn about another government mortgage plan that is likely to help homeowners much like the Bank of America mortgage plan. If you are in a troubling situation you will want to take advantage of this to avoid foreclosure and stay in your home.
There are many resources available online to help you better understand your options and one of the best places to do research is on the Making Home Affordable website. This website is very extensive and will introduce all the government mortgage plans that could help you save your home.
Author: Alan Lake
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