In the past, bad credit mortgage refinancing was hard for homeowners to get approved for. Now though, with the economy and housing markets in bad shape, foreclosures at an all time high, and new Government programs designed to help struggling homeowners, refinancing is easier than ever. Even though the market is down, refinancings are up, and here is why:Millions of homeowners are facing the reality that unless they take action to lower their monthly payments, they will lose their home. That is why refinancing right now, regardless of your situation, is easier and more beneficial, for more homeowners, than ever before. This is due to a combination of extremely low mortgage rates, a high number of homeowners facing foreclosure, and Government mortgage bailout programs. This combination has created an environment more friendly to struggling homeowners.With so many homeowners at risk of losing their home, mortgage lenders and banks are willing to help. With the housing market being in bad shape, there is no guarantee of profiting on a foreclosed home. These days lenders and banks would rather take the sure smaller profit, than the risk of losing money in a foreclosure, and the low interest rates reflect that. Also, the new Government programs designed to help struggling homeowners provide cash incentives when a lender or bank follows the programs guidelines and helps a homeowner. This provides even more incentive to assist struggling homeowners, and allows lenders and banks to ease their refinancing restrictions. All of this means that refinancing approval is easier to get even with a low credit score, a bad mortgage, or all sorts of financial problems.With so many problems facing homeowners, refinancing provides a good and easy way to lower monthly mortgage payments, and save a home from being lost. Mortgage refinance is easy, and now available for millions of people. Using this plan is not difficult and if you are facing mortgage or financial problems, odds are you will get help from this stimulus program. Bad credit refinance, upside down mortgages, financial problems, it does not matter. Help is available.Contact your mortgage lender or bank and see what options are available to you from President Obamas mortgage bailout program. Many homeowners have already used this program to help themselves, and millions more can. You can too. Do not lose your home or let your problems convince you that you can not get help.