Mortgage Help Plan
Financial options when it comes to paying off your home loans, should you consider getting mortgage refinancing plans? This is an option given to homeowners who would like to take on a new loan to pay off an existing mortgage. Or, it could be a way to liquidate some of your assets if you are on time with your payments. Read on to find out more about the process of applying for a mortgage refinance.

What Exactly is Mortgage Refinancing?
Basically, mortgage refinancing involves a homeowner obtaining a new loan to pay off an existing mortgage. There are several instances when mortgage refinancing is a viable financial option, and there are also times when it may do more harm than good for your finances .

Before deciding to apply for mortgage refinancing, you should first have a general look at your finances. Make a list of the pros and cons of mortgage refinancing, determine how it will affect your finances and check whether the pros far outweigh the cons.

op Tips that Homeowners Need to Remember when Opting for Mortgage Refinancing Once you do decide that mortgage refinancing is a viable financial option for you, here are a few important tips that you need to keep in mind. - Stay away from one of those “Zero costs” or “No cost” mortgage refinance offers. When you go online, you are bound to see dozens of no cost or zero cost mortgage refinance options. How do you think these mortgage lenders will profit if they would not ask you to pay for anything when you take advantage of the services that they are offering?

Remember that even if a company offers you a zero cost mortgage refinancing plan, they will recover the service costs in one way or another. As such, it is wiser to go for a more believable plan where all the fees and costs are laid out up front. If possible, pay for these at the onset of the deal rather than being surprised at all the extra fees that you will be charged with when going for a supposedly no cost refinancing plan
Mortgage Modification Plan
Millions of homeowners are suffering from the hardship and the housing market has also been affected by this economic crisis as the property value is falling very fast. Homeowners are unable to repay the heavy installment amount of the home mortgage loan either because they have lost their jobs or have to go through salary cuts in the recent past. All these things have left their life shattered and since these are getting out of control, the present government has issued mortgage modification plan for the relief of both borrowers and lenders.
Across the nation, there are homes sitting empty, foreclosed because struggling homeowners could no longer make the payments. The real estate market has been in a slump, just like the entire economy. Plants are closing, and people are having to adjust to living on much smaller budgets. If you are close to becoming one of those statistics, you may qualify for Obama's Mortgage Modification Plan.

The first thing you need to determine is if your lender is listed on the approved lender list. Are they a participating lender?

Next, you need to find out who services your mortgage. This requires that the mortgage be serviced by Fannie Mae or Freddie Mac. This is a requirement for this government loan modification program.

Do you live in your home more than 50% of the time? This home must be your primary residence. Although it can be a duplex, tri-plex, or four-unit apartment building, you must live in one of the units.

When did you get your original mortgage? To qualify for the Making Home Affordable Program, President Obama's stimulus plan, you need to have signed your original mortgage on or before January 1, 2009.