Obama's Loan Modification Plan

To everyone who was paying attention, many homeowners needed more bailout help in 2009 than the Wall Street bankers. Help did finally arrive in Obama’s Loan Modification Plan. It shared several names including HARP and the 125 Plan. What’s news is the administration’s Loan Modification Plan allows homeowners to refinance their current mortgage payments up to that of 125% of the present property value of the property. This is critical with many properties losing most or all of their equity over the last year. It now let’s mortgage holders refinance their current mortgage payments up to an amount equal to 125% of the present property value.

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