Obama 's Mortgage Program

How do you find out About the Making Obama 's Home Affordable Refinance and Mortgage Modification Options?

President Obama 's

plan was created to help millions of homeowners refinance or modify their mortgages. With Obama 's plan there are basically two options:

Obama option 1: Refinancing: Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home. A Home Affordable Refinance will help borrowers whose loans are held by Fannie Mae or Freddie Mac refinance into a more affordable mortgage.

http://www.financialstability.gov/makinghomeaffordable/refinance_eligibility.html

Obama option 2: Mortgage Modification: Many homeowners are struggling to make their monthly mortgage payments either because their interest rate has increased or they have less income. A Home Affordable Mortgage Modification will provide them with mortgage payments they can afford.

http://www.financialstability.gov/makinghomeaffordable/modification_eligibility.html

With Obama 's Mortgage Program, Who is Eligible?

The Obama government provides self-assessment tools on the HUD website. Use the tool to see if you are among the 7 to 9 million homeowners who can benefit from Making Home Affordable. Based on your results, we will provide suggestions about what you can do next. Find out if you are eligible using the self-assessment tools at::

http://www.financialstability.gov/makinghomeaffordable/refinance_eligibility.html

If you would like more information or have further questions, you can download a Borrower Q&A in the form of a PDF file here.

Please also beware of foreclosure rescue and Mortgage Modification scams – the HUD help from the federal government is free! Keep in mind the following points:

• There is never a fee to get assistance or information about Making Home Affordable from your lender or a HUD-approved housing counselor. Get information on HUD-approved housing counselors at this article: Free Foreclosure Avoidance Counseling
• Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay – walk away!
• Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
• Never make your mortgage payments to anyone other than your mortgage company without their approval.

Obama 's mortgage program by Government Money Club

Free Foreclosure Prevention

HUD-approved housing Foreclosure Prevention Counseling are available to provide you with the information and assistance you need to avoid foreclosure. As part of President Obama's comprehensive Homeowner Affordability and Stability Plan (HASP), you may be eligible for a special Making Home Affordable loan modification or refinance, to reduce your monthly payments and help you keep your home.

Free Foreclosure Prevention Counseling Services

If you need help understanding the Making Home Affordable programs, you can use this search tool to find a counseling agency in your area that will provide you with free Foreclosure Prevention Counseling services. If you are eligible for the loan modification or refinance program, the counselor will work with you to compile an intake package for your servicer.

Foreclosure prevention counseling services

are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These Foreclosure Prevention Counseling agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services. Find out about your
local Foreclosure Prevention Counseling provider at the following government website:

Site Content:
HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure. As part of President Obama's comprehensive Homeowner Affordability and Stability Plan (HASP), you may be eligible for a special Making Home Affordable loan modification or refinance, to reduce your monthly payments and help you keep your home.

If you need help understanding the Making Home Affordable programs, you can use this search tool to find a counseling agency in your area that will provide you with free foreclosure prevention services. If you are eligible for the loan modification or refinance program, the counselor will work with you to compile an intake package for your servicer.

Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services.

Please select a state from the list below and click the “Go to this page” link, or select a state from the map below. This will take you to a page with additional search criteria to help you find a conveniently located housing counseling agency.

http://www.hud.gov/offices/hsg/sfh/hcc/fc/

Free Foreclosure Prevention by Government Money Club

Housing Grants

One of the country's biggest home builders, Pulte Homes is offering dreams for many potential first time home buyers. Pulte Homes Inc. states that it will match the new $7,500 tax credit with its own $7,500 Housing Grants on homes for first time home buyers. Pulte Homes Inc., one of the country's largest home builders, says it will match a new $7,500 tax credit for first-time home buyers with its own $7,500 Housing Grants on homes. This comes as a dream come true for many who are looking to take advantage of all the incentives and enticements as well as the lower housing prices to become first time home buyers.

According to Pulte, the goal of this offer which will be extended to any buyer of a Pulte home is to draw attention not only to our homes but to the housing market in general, reports Richard J. Dugas, president and chief executive of Pulte. With the decline in housing prices, the devaluation of homes due to the increase of vacant homes from foreclosures this may help those who are ready buy and take advantage of all of the incentives.

Government Money Cluv and Double Housing Grants

The tax credit that was signed into law last week was lobbied hard for by home builders. It is all part of a bigger housing rescue package that is beginning to spread. Currently the housing industry is working hard to get the word to consumers and is hoping the tax break will help pull the crippled housing market out of danger. President of the National Association of Home Builders, Sandy Dunn, states that many potential first time home buyers are now in a good position to buy a home but are understandable nervous about the market. In a conference call Monday Dunn says This tax credit will help them off the fence.

According to the NAHB, 40% of all house buyers are first time buyers. The first time home buyer is seen as the key to restoring the housing market. This is generally because the first time home buyer does not have to unload a home before they are able to buy a new one. Focusing the incentives on the first time home buyer now can help to stimulate the industry enough to make it a prime industry for all once again and eventually help stimulate and restore the economy on the whole.

Housing Grants

Individuals looking to qualify for the tax credit can have an adjusted income of up to $75,000 a year or a combined adjusted income of up to $150,000 a year for married couples filing jointly. Under the law a person must not have owned a home in the last 3 years to qualify as a first time home buyer. Additionally, the home purchased must close between April 8, 2008 and July 1, 2009 to qualify for the credit.

The individuals who qualify for the tax credit will be matched by Pulte Homes in a discount when they purchase a Pulte home. This may just steady the nerves of the apprehensive first time home buyer who is ready to buy that first home.

Matthew Lesko and Double Housing Grants