| There are only a few mortgage lenders who have | | | | altered for the time being in order to meet the needs |
| been approved by the Government to take part in the | | | | of this stimulus plan. Homeowners can now get |
| $75 billion housing stimulus plan. Bank of America (BoA) | | | | approved even if they do not have the traditional 20% |
| is one of the approved mortgage lenders. Bank of | | | | cash or equity in their home. Even mortgages which |
| America has the experience, and professionals which | | | | are worth up to 5% more than the homes value can |
| can help a homeowner save their home. Refinancing | | | | get approval. |
| and mortgage modification into more affordable | | | | Probably the most beneficial part of this plan is the |
| monthly mortgage payments is now possible for | | | | assistance for homeowners with financial hardships. |
| millions of homeowners. Here is how: | | | | These include things such as a bad mortgage, loss of |
| Bank of America and other approved mortgage | | | | job, reduced wages, or any financial matter which is |
| lenders will receive cash from the Government plan to | | | | out of the homeowners control. Homeowners facing |
| approve homeowners for refinancing or home loan | | | | these problems, and many more, can use this stimulus |
| modification. This extra money enables the lenders, like | | | | plan and get a more affordable mortgage payment by |
| BoA, the money they need to lower their financial risks | | | | refinancing or modifying their home loan. |
| for approving homeowners who are "at risk" of losing | | | | Homeowners who are having a hard time paying their |
| their home, or facing other financial hardships. | | | | mortgage, and are scared of or facing foreclosure, |
| Homeowners who would have never been able to get | | | | should take action now. Bank of America is ready and |
| approval for refinancing or home loan modification, are | | | | able to help millions of homeowners, and odds are, you |
| now able to get help. A lot of the previous policies | | | | can get help too. |
| these approved lenders had in place, have been | | | | |