This just in!  Wachovia finally launches the Obama Home Affordable Modification Plan!  All of you Wachovia loan modification applicants can finally get a break and see some headway on your application.  Just when you were about to give up the lender announced that it has implemented Obama's Home Affordable Modification Plan effective October 17, 2009.  I know-the program has been out since March-but for some unknown reason Wachovia has been behind the curve in getting their system up and running.  What does this mean to you?  Now is the time to prepare your financial statements and gather all of your documents and contact the bank to re-apply for help!

It has taken a long time, but the Wachovia loan modification process has been streamlined under the Obama plan.  Effective October 17, 2009, the loss mitigation department will take your basic financial information right over the telephone.  If your financial information fits the guidelines, then you will be sent the trial modification paperwork.  This could be mean a lower interest rate, all the way down to 2%-and a new modified payment that you can actually afford.

Here's an important tip that could be the difference between approval and denial!  The best way to get a quick approval is to be prepared before you call the bank.  It is never a good idea to slap some paperwork together and start giving your financial information to Wachovia until you have had the chance to fine tune your budget and make sure you fit the approval guidelines.   This is finally your chance at some real help-don't blow it now by saying the wrong thing and being denied.

Did you know that a loan modification approval depends on qualifying using a standard 4 step formula outlined by the Treasury Department.  Did you know that you can learn this very same formula and use it to prepare your own loan workout application?  This is the key to success-learn how to adjust your budget so that you have the best chance of getting approved.  Homeowners who can instantly tell the loss mitigation the correct information get fast results.

The good news is that the wait is finally over for Wachovia loan modification borrowers-make sure you don't miss out on this opportunity to get a low affordable mortgage payment.  The lender is following Obama's Home Affordable Modification guidelines and even offering principal reduction to qualified homeowners.  Do you homework, prepare an acceptable application following the 4 step formula and get back on track to secure home ownership!  You can do this-use the #1 resource for homeowners and get started today.

You don't have to be Hemingway to write an effective hardship letter for a loan workout.  However, writing a hardship letter for a loan modification is a little tricky.  You must be able to convince your lender that you are a good candidate for a loan workout because of your current dire financial situation.  On the other hand, you also have to make them understand that if given the lower monthly payment, you will be able to afford to pay and maintain your home.  Ideally, you want to convey your circumstances in a compelling story, but one that is brief as well, lenders are too busy to read a novel!  Here are some good tips to help you begin your own letter.

Did you know that a hardship letter for a loan modification has 4 critical elements?  A successful letter will cover all of these elements in a descriptive and convincing manner.  It is important to not leave one of these out, or you may not gain the empathy of your lender and you may not be granted a loan workout.  Here is some detailed information about 3 of the items you need to cover in your own letter.

Loan Modification Hardship letter element #1 is the timing of the circumstances that caused the late payments.  The lender wants to be able to verify that your difficulties began at the same time or near the time of your late payments.  This tells them there is a direct relation to your financial stress and your inability to pay the mortgage.  For example, if you were hospitalized in January, perhaps your first late payment was in February and thereafter you could not get caught up.  This makes sense and is easy to document.  If your interest rate reset to a higher payment in June, but you struggled for a month trying to make the higher payment, explain this time line so that it all makes sense.

Loan Modification Hardship letter element #2 is being able to describe the circumstances surrounding your hardship so that your lender can see the situation was out of your control.  You can gain the banks empathy and understanding with a few details-not too long or involved though.  Let's say you were laid off your job and were unable to find work for a few months.  You now have a new job, but the pay is less.  Explain how unexpected the lay off was, how hard you had to look for work, any new training you took to gain employment, etc.

Loan Modification Hardship letter element #3 is very important to your bank.  Tell the lender what steps you have taken so that you feel you will not become delinquent again.  Many modified loans are experiencing re-defaults, and banks are wary of this happening.  If you have cut expenses, adjusted your budget, let them know.

Knowing how to write a hardship letter for loan modification is one of the most important aspects of getting approved.  It may seem like it is easy, but if you don't convince your lender that you are deserving, they may decide against offering you a loan workout.  An acceptable financial hardship situation is the number one criteria for approval-take the time to learn all 4 elements to a successful hardship letter so you have the best chance of success.  Now get that pad and pen and get started!

You can get the help you need to apply and qualify for a loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender.

You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes.  Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

How do I qualify for a Bank of America loan modification?  You may be asking yourself this questions as you try to figure out the best way to stay in your home with the affordable mortgage payments you need.  There are many new options available to homeowners, and it can be confusing.  Here is some valuable information to help you determine what you could qualify for and how best to begin the application process.

When you qualify for a Bank of America loan modification, you are basically proving to the lender that that terms of your home loan have become unaffordable due to a financial hardship.  An acceptable financial hardship situation could be caused by any number of things, but generally your lender will consider you a candidate if:

1. Loss of job or income
2. Medical expenses/illness
3. Death of family member
4. Military Service
5. Incarceration
6. Divorce/separation
7. ARM loan with interest rate re-set higher

Once you demonstrate that you have suffered a financial hardship, then you must prove to Bank of America that although you cannot afford the current payment, you will be able to pay and maintain the new modified payment.  In order to qualify for a loan modification, your application must clearly demonstrate in black and white that you will not be a risk of re-default.  You can do this simply and easily using a current financial statement form and then a proposed financial statement form.  These loan modification forms are where you show the lender your current budget and your new, revised budget with the lower monthly payment.  You can obtain these forms ahead of time in the #1 resource for homeowners, The Complete Loan Modification Guide.

Bank of America's programs as well as the Federal loan modification plan requires that you meet a debt ratio requirement to qualify.  This means that a certain percentage of your income each month is allocated to your housing expense.  This debt ratio requirement is usually between 31-38% of your gross monthly income.  You can get help to figure your own debt ratio, then determine your new target payment so that your financial statements are accurate and acceptable.

The federal program uses a simple, 4 step formula to determine if you qualify for the bailout plan.  You can learn and use this very same formula to prepare your own acceptable application.  Since this formula is used by all the lenders, and you can learn these very same steps, why wouldn't you want to take advantage of this inside information to yourself the edge you need?

This may sound difficult or confusing, but it's really just simple math.  However, spending just a bit of time learning and preparing can make all the difference when completing your loan modification forms.  If you are serious about saving your home, then you need to understand how to qualify before you submit your paperwork.  You will then be able to prepare your forms so that you will have the best chance of approval.  When you ask, "Do I qualify for a Bank of America loan modification?" make sure you can answer correctly.

You can get the help you need to apply and qualify for a loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes.  Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

Many frustrated homeowners that have hit a brick wall of resistance trying to get a Wilshire Credit Corp. loan modification may have a second chance to get the lower mortgage payment they need to avoid foreclosure.  The Obama "Making Home Affordable" modification program requires participating lenders to review every application from homeowners who request that they be considered for the plan. Most banks are in the process of reviewing their loans for eligibility.  If you are interested in learning how to pre-qualify for this plan, here is some valuable information.

Just because you have been denied a Wilshire Credit Corp loan modification in the past does not mean you cannot apply for the Obama plan.  The program features a standardized approval criteria that centers around a modified mortgage payment equal to 31% of a homeowners gross monthly income.  You can learn more about the plan and then pre-qualify yourself to make sure you can meet the approval guidelines.

Interested candidates will be asked to prepare some loan modification forms and provide certain documentation.  Based on the information provided, a determination will be made as to whether the homeowner qualifies for a loan modification using the Obama plan criteria.  Successful borrowers will be able to:

1. Prove they live in the home as their primary residence
2. Have a loan amount of $729,750 or less for a single family home
3. Show that their current mortgage equals more than 31% of their gross monthly income-including Homeowners dues, taxes and insurance

The Obama loan modification plan is free to homeowners, but you cannot be in an active bankruptcy to qualify.  One of the most important approval conditions is the debt ratio requirement.  Homeowners will be considered who can meet the 31% ratio requirement for the modified payment based on:

1. Reduction of interest rate to as low as 2%
2. Longer loan term to 40 years
3. Principal forbearance-deferred until home is sold or refinanced

If you know how to complete your Wilshire Credit Corp. loan modification paperwork correctly and can calculate your debt ratio to pre-qualify, your chances of approval can be greatly increased.  The Obama plan is a standardized loan workout, so borrowers who meet the requirements qualify for help, but those who cannot show they meet the guidelines will not.  In fact, there is a standard 4 step formula that is used to determine who is eligible.  You can learn this very same formula and use it to prepare your own acceptable application.

The lender is swamped with requests, so it is important to begin learning and gathering the required documents as soon as possible.  The loan modification process is getting easier every day.  This is a second chance for many homeowners, so make sure you don't miss out on your share of the billions of dollars in aid for struggling borrowers.

You can get the help you need to apply and qualify for a Wilshire Credit Corp. loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes.  Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

If you are struggling with high payments on your Aurora mortgage, then you need to find out if you may qualify for government assistance.  The Obama Federal 2% loan modification plan, "Home Affordable" has made it easier than ever for the average homeowner to successfully complete their own do it yourself loan modification.  Because this program has standardized approval criteria and the same general modified loan terms are available to every qualified borrower, you can work directly with Aurora and have a good chance of success.  That does not mean that you can just throw some paperwork together.  To get the results you want you must dedicate about 3 hours of your time so you can learn a bit about how to meet the approval requirements.

Aurora has been authorized to offer this federal program to qualified borrowers.  The government loan modification plan is free to homeowners, and even if you have been turned down Aurora before, you can apply for this program.  Once you understand the basics of how to prepare your paperwork, you can easily complete your do it yourself loan modification application.  You don't have to have any previous knowledge or experience, if you can follow simple directions, you will be able to prepare your own acceptable loan workout proposal.  Really, it has been designed to be a very simple and straight forward process.

How would you like to be able to:

1. Reduce your interest rate to as low as 2%?
2. Extend your loan term to 40 years?
3. Defer some of your principal balance?
4. Get a new mortgage payment, including your taxes and insurance, that equals only 31% of your gross income?

Well, with just a little bit of your time and effort, you could get all of these beneficial modifications to your home loan.  You can learn the loan modification process in a few hours.

Don't be concerned!  An Aurora do it yourself loan modification only requires a few hours of your time to read some basic information about approval guidelines, then follow some simple step-by-step directions to help you complete your loan modification forms so that they meet those approval guidelines.  It is not necessary to pay thousands of dollars to anyone-you can do this.  Save your hard earned cash and instead invest your own time and energy into working directly with your bank using the Obama federal loan mod plan.

It can be confusing to know what the best way to get stated actually is.  Yes, there is a lot of advertising by loan mod companies and attorneys that try to convince you that they can do a better job, but since the new programs have been made available, their days are numbered.  Don't be fooled or intimidated, instead become proactive and informed.  Most states have now passed laws making it illegal for companies and even attorneys to collect upfront fees for loan modification services.  That's because the results produced by most of these firms is very low and many homeowners have lost their homes.

It's time to get serious about saving your home-we are talking about the biggest single investment you will probably ever make in your life.  You can take control of your finances again-it's not rocket science-simply learn, prepare and begin.  The Aurora federal loan modification program uses a standard 4 step formula to determine who qualifies-you can learn this very same formula and use it to prepare your own application.  Thousands of homeowners have already been successful with a do it yourself loan modification - why not you too?

Learn the 4 step formula and get the help you need to apply and qualify for an Aurora  loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes.  Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

Foreclosures are still on the rise and if you are at risk of losing your home, here is some important information you need to know.  President Obama's Making Home Affordable loan modification plan seeks to help up to 5 million homeowners facing the possibility of losing their homes due to unaffordable home loans. The plan is funded by $75 billion dollars and offers a unique feature that pays lenders, servicers and borrowers to participate in the loan workout program.  To date, only a little over $1 billion has been used, so there is still plenty of funding to help at-risk homeowners with a loan workout.   Here is some information on the plans major features and who will qualify for this loan modification program.

Minimum eligibility criteria for Making Home Affordable loan modification:

1. Primary residences only & one-to-four unit properties only
2. Unpaid principal balances to equal $729,750 or less (higher for 2-4 unit properties)
3. Loan must have been originated before January 1, 2009
4. Current mortgage payment (including taxes, insurance and Homeowners Association if applicable) must equal more than 31% of the borrowers gross monthly income
5. Borrowers are not required to be delinquent on their payments to participate
6. Borrowers may not be in bankruptcy

Watch out for empty promises and companies asking for large fees to process your application.  The program is free, and the Treasury Department is warning homeowners against paying anyone a fee to participate in the loan workout plan. Obama's loan modification plan calls for a reduction of the mortgage payment to equal 31% of the homeowners gross monthly income, to be arrived at by:

• Interest rate reduction to as low as 2%
• Longer loan term to 40 years
• Principal forbearance
• Principal forgiveness (not mandatory and at lenders discretion)
• Second loans are now eligible for modification under this plan

The Feds are offering a "carrot" to encourage lenders to reach out to homeowners and aggressively implement this plan.  A Pay-For-Success feature allows for lenders and servicers to be paid incentives and given other inducements to offer this program to their borrowers. Homeowners who maintain the new modified loan payments will be given up to $5000 in principal reduction to their current loan to help rebuild equity.

Interested homeowners can find out if they might qualify for this loan modification program by figuring their debt ratio and determining if it is possible to reach their target payment based on 31% of their gross monthly income using the options mentioned above. Do you know how to compute your debt ratio to pre-qualify yourself before you contact your lender to apply? There is a simple 4-step formula that you can learn and then be able to prepare your application so that is closely matches the approval guidelines.

Successful candidates will be able to provide their bank with all of the necessary paperwork, and complete their loan modification forms accurately so that they meet the approval guidelines. Now is the time to begin to learn about how the process works so you can increase your chances of getting the loan workout you need to stay in your home.

You can get the help you need to apply and qualify for a loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes.  Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com