A lot of people are convinced that the bad housing market and economy are going to prevent them from getting a mortgage refinancing that will be beneficial. However, the truth is that mortgage lenders and banks are more eager than ever before to help struggling homeowners. Nobody wants the market to recover more than the lenders and banks who are holding a lot of risky assets unless things improve. Here are some reasons that homeowners should look into refinancing a home mortgage today, and why it is not that hard to get approved for.Many homeowners are struggling financially due to a tough economy and a unstable housing market. Because of these problems though, there are a few opportunities where nearly any homeowner can get a mortgage refinancing that will save them a lot of money, prevent their home from being lost to foreclosure, or both. Because of the housing market, home loan interest rates have actually been lowered to near record lows to help encourage growth and bring some stability. Because interest rates are so low, nearly any homeowner that has the same mortgage from 5 years or longer ago can refinance into a much lower interest rate that will save them a lot of money over the course of the home loan.Homeowners a few years ago would have needed to have a good overall financial situation, equity in their home, and need to meet a lot of other requirements to get a beneficial mortgage refinance approval. Now though, things have changed, and lenders and banks nationwide are easing their refinancing requirements so that more homeowners will get an approval. The vast majority of mortgage lenders and banks already have huge inventories of foreclosed and defaulted on homes that they need to sell, in a bad market. The last thing they want is to drive prices down even further, or deal with a lot of new home inventory. In order to prevent things from getting worse than they are, the lenders and banks are approving a lot of people, even some who have been denied just a few months prior to them applying again.There is even a stimulus plan from the Obama administration that is providing cash incentives to participating mortgage lenders and banks who help struggling homeowners refinance a mortgage. This main goal of this $75 billion housing stimulus program is to prevent foreclosures. Nearly everyone being foreclosed on is in financial trouble, but these incentives take some of the risk off the lenders and banks. Because of the cash incentives, many homeowners are actually preventing foreclosures that are already in place, and getting an affordable monthly mortgage payment through refinancing.Homeowners are being encouraged to take action and contact mortgage lenders and banks to see what the reality of refinancing a mortgage is in this economy. Most homeowners will be pleasantly surprised to see that the fact of the matter is that refinancing a home loan has never been easier, or more beneficial, than it is now.