REFINANCE OPPORTUNITIES TO THOSE WHO LACK SUFFICIENT EQUITY

Part of the Obama stimulus plan is geared to helping responsible homeowners "refinance" their loans. You may be eligible if:

*You own and currently occupy a one-to-four unit home. *Your mortgage is owned or controlled by Fannie Mae or Freddie Mac *You are CURRENT on your mortgage payments*The amount you owe on your first mortgage is about the same or slightly less than the current value of your home * You have a stable income sufficient to support the new mortgage payments

Eligible loans will include those where the first mortgage will not exceed 105% of the value of the property. For example, if you paid $300,000 for your home and your home is now worth $285,000 or less, you may qualify. The interest rate will be based on the market rate at time of refinance, you may not take out extra money to pay down debt, but can add the closing costs to the refinance charge.

If you are really under water - you may qualify for the Modification Initiative. Call a reputable bank for more detailed information.