What is a Loan Modification Program and Do You Qualify For Federal Assisted Workout?

Facing delinquent mortgage payments? You might have many questions about your options to save your home. It can be confusing trying to decipher all of the information in the news about home retention programs and the federal bailout plan for borrowers. Homeowners need to understand just what is available under the government program as well as other plans their lenders offer so that saving your home is a possibility.

What is a loan modification program? Well, basically it is a workout to your existing mortgage so that the monthly payment is modified-made more affordable and fits into your family budget. The goal is to help families stay in their homes and avoid foreclosure. The federal government has implemented a program called HAMP-Home Affordable Modification Plan. Most banks are participating in this federally subsidized plan because they actually get paid by the Treasury Department to modify qualified loans. Homeowners also get paid for successfully making the modified payments on time. It's a win-win for everyone-you keep your home and the bank gets paid to modify!

Since HAMP is a standardized loan modification program, the guidelines for approval are the same for everyone. You can learn these guidelines and use them to prepare your own acceptable application to your lender. Why just guess at qualifying when you can actually use a tool that mimics the HAMP criteria? Take the guess work out of preparing your own financial statement by taking advantage of a software program designed just for homeowners. Simply input your own specific information and it does all the calculations for you.

The secret to qualifying is to prove to your lender that you meet the loan modification program guidelines. You can do this yourself with just a few hours of preparation. Now is not the time to take chances-the bailout money is only available for a limited time-don't miss your chance to keep your home. Hundreds of thousands have already been assisted and given a loan workout. Why not you?

Get the help you need to prepare your own accurate and acceptable loan modification application. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that takes the guess work out of preparing your financial statement, hardship letter and all of the required forms your lender needs. You get an easy to use software program-Loan Mod Quick App-as well as an easy to understand handbook with step by step directions. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! It couldn't be easier! Visit loan modification to order today.

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