Apr
19
Obama’s Mortgage Stimulus Package
By introducing the housing stimulus plan which is called the “Home Affordability Stimulus Plan”, the primary aim is to reduce the cost of borrowing and make borrowing an affordable option.
A refinance mortgage loan under this plan is offered at 4.5%. It offers the benefit of lower cost of loans both to the existing home owners and new home buyers. Everyone is of the opinion that such a scheme cannot come at a better time than current economic downturn.
Struggling home owners are looking forward for the implementation of this package. Amoun