Are You eligible for a Loan Modification?

Basic Loan Modification Qualifications

•Must have a real hardship
(loss of income, death in family, etc)
•Must have a debt-to-income ratio of 31-50%
(but as high as 79% are still approved)
•Must have a loan that is at least 9-12 months old
•Must have an income source that can reliably & realistically allow you to make modified payments (if you’re unemployed, you’re in trouble).

You must be a homeowner and occupy the home.
That is individuals with a high combined mortgage debt, compared to their income.
and individuals with a mortgage balance higher than the current market.
Obama has only made this Loan modification package available to 2012 in the USA.

You Do Not Qualify

If you are a speculator or an Investor
Individuals who bought the home knowing they couldn't afford it.
Mortgage amounts have a capped limit roughly $700,000




Check ou the Free 5 part Mini Video Course on Loan modifications and see if you arre eligible for a Loan Modification.



Paperwork Needed for a Loan Modification

Before calling the lender or servicer, borrowers should gather important documents, including:
• Most recent mortgage statement
• Homeowners association statement
• Paperwork for equity line of credit, second or third mortgage
• Recent job payroll stubs
• W-2 and previous year tax return
• Property tax statement
• Profit and Loss statement from self employed borrowers
• Active credit card, student loan, car loan and other debt statements
• An candid hardship letter that paints an accurate picture of the borrower's situation

These documents empower the lender to evaluate the borrower's situation and determine if they qualify for a loan modification. Borrowers should also prepare a budget that paints a real picture of actual income and expenses so that banks can evaluate how much they can actually afford to pay in monthly housing expenses, including insurance and taxes.

Check ou the Free 5 part Mini Video Course on Loan modifications and see if you arre eligible for a Loan Modification

Loan Modification Software for Homeowners

You know that foreclosure is a terrible option, but you also know you’ve got to do something or you’ll spend the next 30 years broke and struggling, throwing most of your hard-earned money into a bottomless pit because, quite frankly, your mortgage terms stink!

NOTE: All loan types are currently being approved for modifications including…

•Negative Amortization Loans
•Adjustable Rate Mortgages (ARMS)
•Fixed Rate Loans
•1st, 2nd and even 3rd mortgages
•Investment, vacation, and rental properties
I’m talking about saving your home here!

Get your 5 Free video series on How to Save Your Home Right Here.

The 60-Minute Loan Modification so unique;

WHAT YOU'LL LEARN



1. Why you MUST do your own loan modification application

2. How to complete your entire loan modification package in 60 minutes or less

3. Why debt-to-income (DTI) ratio is dead

4. How to get loan mods approved on 2nd mortgages and even investment properties

5. One powerful trick that forces lenders to give your application priority treatment

6. Why repeatedly calling your lender over and over is a total waste of time

7. Why you should never accept the first loan modification offer your bank gives you.

Basic Loan Modification Qualifications


Basic Loan Modification Qualifications:

•Must have a real hardship
(loss of income, death in family, etc)
•Must have a debt-to-income ratio of 31-50%
(but as high as 79% are still approved)
•Must have a loan that is at least 9-12 months old
•Must have an income source that can reliably & realistically allow you to make modified payments (if you’re unemployed, you’re in trouble).

So if qualify why not have a look at the 5 Free Videos and Save Your Home Today