Bank of America (BoA) Mortgage Refinancing [mortgageinsurance-101.blogspot.com]
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Mortgage refinancing with Bank of America (BoA) is easier than ever. This is thanks to the $ 75 billion plan from President Obama called the "Making Home Affordable" plan. This plan will allow homeowners to get a more affordable mortgage through refinancing. Bank of America is one of the few approved by the Government lenders who offer this plan, and here is how you can use it too.
This plan works by giving a bulk of the $ 75 billion to mortgage lenders and banks like BoA who approve at risk homeowners. This will minimize the risk on the part of Bank of America and allow them to approve more homeowners for refinancing. This is a great chance for homeowners who are searching for a way to save a lot of money every month. Right now their has never been an easier or more beneficial time to get a mortgage refinanced for the typical homeowner. The savings being reported are in the hundreds of dollars per month.
Here are some requirements a homeowners needs to meet to take advantage of this plan from Bank of America for themselves:-The mortgage must have less than $ 729,500 remaining on the principal balance.
-The home must be the primary residence of the mortgage holder.
-Homeowners who have a mortgage worth up to 5% more than their homes market value still have a good chance of getting approved for a refinancing.
BoA mortgage refinancing has never been better for a homeowner. This plan will save a lot of people a lot of money, and even their homes. Take advantage now.
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