Whether you are looking to buy a home, go to school, or get out from under a bad mortgage, President Obama's stimulus package and home loan rescue program can help
Tampa, FL (PRWEB) February 25, 2009
Many Credit Loan customers will find help from recent President Obama's recent legislation, including his anticipated stimulus package and a mortgage rescue plan.
"Whether you are looking to buy a home, go to school, or get out from under a bad mortgage, President Obama's stimulus package and home loan rescue program can help," said Daniel Wesley, CEO of Credit Loan. "This is a big deal to many of our site visitors."
The stimulus package includes tax breaks targeted at two of the biggest groups of people who take out personal loans: homebuyers, and college students. Per the stimulus, first time home buyers will be given a $7,500 tax credit, and college students will be able to deduct up to $2,500 of college tuition costs per year. The college tuition tax credit will be especially beneficial, and will hopefully reduce the average student's dependence on credit cards to help them afford the cost of college.
"Going to college and buying a home are two of the biggest American dreams, but unfortunately the vast majority of Americans cannot afford either without taking out a loan," Wesley said. "The stimulus plan's tax credits will make both of these dreams more accessible for the average family."
The mortgage rescue plan, which was introduced shortly after President Obama signed the stimulus package into law, provides help for homeowners who are in trouble due to falling home prices and bad mortgages. Despite the record lows in mortgage loan rates, many homeowners are unable to refinance their homes and take advantage of lower monthly payments, because the values of their homes have dropped as well. By subsidizing refinanced home loans, the government plans to make refinancing easier for homeowners who still owe at least 80 percent of their home's value.
"President Obama's home loan rescue plan is designed to help homeowners who are current on their mortgages, but are still struggling and could benefit from lower mortgage payments," Wesley said. "To many Credit Loan customers, some of whom are struggling with their bills and having to consider debt consolidation, this legislation will come as a huge relief."
The Credit Loan website offers thousands of free articles on topics related to credit cards, personal loans, and debt consolidations, so many of the site's visitors are looking for information that will help them keep up with their bills, repair their credit, and prevent foreclosure and bankruptcy. The legislation introduced in the stimulus package and housing rescue bill will therefore be beneficial to a great many of Credit Loan's customers.
For more information about Credit Loan, or to read articles on topics such as how the stimulus package and mortgage rescue plan can help you, please visit http://www.CreditLoan.com.
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