If you're among the numerous people living in Miami Beach homes who are looking to work out a mortgage refinancing of some sort, you may have also been one of the many who visited the recent mortgage modification marathon that took place over in Palm Beach County.  If you were unable to attend, all hope is not lost.

It's been around for some time now but the Obama administration has decided to extend its Making Home Affordable refinancing program for another year.  It's been around for some time now but many homeowners are completely unaware of its existence.  In fact, less than 195,000 people owning property like Miami Beach homes have taken advantage of the program.

Because Florida has a higher number of properties that have underwater mortgages, the program is considered an ideal solution for such a market.  If you're looking for some kind of financial assistance, you must owe up to 25 percent more on the loan for your Miami Beach homes than its market value in order to qualify.

Now that the Making Home Affordable program has been extended into June of 2011, perhaps it's time to stop struggling and find a solution that won't have you worried about being able to make next month's mortgage payment.