Susan V.'s Blog

Wachovia Finally Announces It's Ready to Offer Obama Loan Modification Plan-Now's The Time to Apply!

Susan V. Gregory (Route 66 Consulting) — Tue, 27 Oct 2009 10:20:57 -0500

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.

Loan Modification Hardship Letter-The 4 Critical Items you Need to Explain

Susan V. Gregory (Route 66 Consulting) — Mon, 26 Oct 2009 13:08:31 -0500

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 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-Steps to Apply & Approval

Susan V. Gregory (Route 66 Consulting) — Fri, 23 Oct 2009 12:41:03 -0500

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:

Loss of job or income
Medical expenses/illness
Death of family member
Military Service
Incarceration
Divorce/separation
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.

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

Wilshire Credit Corp Loan Modification-Get a Second Chance with Obama's Program-How to Apply

Susan V. Gregory (Route 66 Consulting) — Fri, 23 Oct 2009 10:46:19 -0500

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:

Prove they live in the home as their primary residence
Have a loan amount of $729,750 or less for a single family home
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:

Reduction of interest rate to as low as 2%
Longer loan term to 40 years
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.

Aurora Loan Modification with Obama's 2% Home Affordable Plan-Learn How to Apply

Susan V. Gregory (Route 66 Consulting) — Fri, 23 Oct 2009 10:32:04 -0500

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:

Reduce your interest rate to as low as 2%?
Extend your loan term to 40 years?
Defer some of your principal balance?
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.

Bank of America Loan Modification Approval Guidelines-Know before you Apply

Susan V. Gregory (Route 66 Consulting) — Mon, 19 Oct 2009 18:48:35 -0500

Stop-before you contact the bank to apply for a loan workout take a minute to learn some very important information. What you don't know could hurt you when you apply for a Bank of America loan modification to lower your monthly payment. Many deserving homeowners are denied the help they need simply because they did not know how to prepare their loan modification paperwork properly so that they meet the lenders guidelines for approval. Ever heard the saying "You don't know what you don't know"? Well, make sure you learn more about what you need to know before you apply.

Do you know about approval guidelines? A qualified homeowner for a Bank of America loan modification will be able to successfully prove that they meet the lenders guidelines. Do you know what those guidelines are? How can you expect to meet the approval criteria if you do not even know what it is? It's just common sense-you must take some time and make the effort to learn about what is required to meet the Bank of America loan modification guidelines.

Do you know how to prepare your loan modification forms correctly? Your approval for a Bank of America loan modification will rely mainly on how you complete your application paperwork. This is your opportunity to explain your circumstances to the bank, and prove to them in black and white that you are a deserving and qualified candidate. It's not that hard once you know what they are looking for to approve your proposal. Thousands of borrowers have already been approved for a loan workout that saved their home-you can do it too-simply make the commitment to learn and prepare your paperwork properly.

Do you know how to successfully complete a do it yourself loan modification? Should you rely on someone else to prepare and submit your Bank of America loan modification application for you? Many firms are offering a high priced service-but you still must provide them with all of your information and documentation. Once you understand what is required and you complete the forms, you will be able to decide what is best for you and your family-a do it yourself Bank of America loan modification or pay a third party to represent you. The plain fact is that you will work harder and be more motivated to work through the loan modification process with Bank of America than any company-why? Simple, you have the most to lose!

It's easy to think that you may not have any experience with this type of thing-but you can learn the simple 4 step formula the bank uses to determine if you qualify. Once you learn this simple formula, you will be able to prepare your own acceptable loan workout proposal and get the help you need. You son't have to take a shot in the dark-take control of your finances. Remember the goal is to save your home-invest your time and effort to learn and prepare before you make any decisions affecting your family.

You can get the help you need to apply and qualify for a Bank of America 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

Citimortgage Loan Modification with Principal Reduction

Susan V. Gregory (Route 66 Consulting) — Mon, 19 Oct 2009 17:43:21 -0500

Are you getting frustrated and confused trying to get a Citimortgage loan modification? Well, don't give up-here is some good news and assurance that help is available and being offered to qualified homeowners. Citimortgage just approved a loan modification that featured a 3% rate for 40 years and also forgave over $100,000 in principal! How did this California homeowner get this help? Read more about his story.

Finally, a story with a happy ending for one California homeowner who was successful with his Citimortgage do it yourself loan modification. It is good to hear of a borrower who was able to work directly with their lender to find a loan workout solution that gave them an affordable mortgage payment and allowed them to avoid foreclosure and stay in their home. This borrower was able to negotiate a loan modification that featured three revisions to his original loan. The new terms reduced his payment and lowered his loan balance-how did he accomplish this?

The secret to a do it yourself loan modification success is knowledge and preparation. If you hope to get your application approved, you must be able to prepare your paperwork so that it meets your banks guidelines. The homeowner mentioned above took the time to research and learn from an informative source of information before contacting Citibank about his loan modification. He knew what his payment goal was, understood the lenders requirements, and then prepared his paperwork properly. He understood what to expect throughout the process, and was able to negotiate new loan terms that met his goals and his lender's guidelines.

While not everyone will have the same awesome results, the fact is that Citimortgage is offering very aggressive terms for borrowers who qualify. A homeowner who submits an acceptable do it yourself loan modification application will have the best chance of getting the results they need. You may feel like your finances are spinning out of control right now, but you can take control of how you decide to approach your situation. Will you just wait and hope for the best? Or will you make the commitment to learn, prepare and then act aggressively and tirelessly to save your family's home? Knowledge, preparation and persistence can pay off-just ask the homeowner who successfully completed his Citimortgage do it yourself loan modification. He did it-you can too!

You can get the help you need to apply and qualify for a Citimortgage 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.

Wells Fargo Loan Modification Q & A to Apply & Qualify

Susan V. Gregory (Route 66 Consulting) — Mon, 19 Oct 2009 17:30:27 -0500

Frustrated trying to figure out if you qualify for a Wells Fargo loan modification? You need a lower your mortgage payment and you also need to learn about how to increase your chances for success. Applying for a Wells Fargo loan modification program will give you the chance to lower you monthly payment so you can afford to stay in your home and avoid foreclosure. Unfortunately, not all borrowers will qualify for this help-why do some homeowners get approved while others are denied? Here are 7 Tips that will help you get your loan modification application approved:

Tip #1: Learn the federal guidelines as well as the lenders guidelines for approval before you send in your paperwork. Wells Fargo has implemented certain requirements that must be met to be approved. Once you know what these are, you will be able to complete the forms properly to increase your chance for approval.

Tip #2: Gather all of your bills and household expenses together, sit down and figure out a new family budget that eliminates all unnecessary expenses. You must show the lender that you are making sustained home ownership a priority.

Tip #3: Write a convincing letter explaining your circumstances that will tell the story of why you are having financial difficulties, what steps have been taken to correct the situation, and your commitment to continued home ownership. You can get help to write your own letter with a Hardship Letter outline and letter template.

Tip #4: Provide the lender with documentation to back up your hardship story. If you were laid off, give them a copy of the notice from your employer, if you had medical expense, copies of the bills. This will add credibility to your request for loan modification help.

Tip #5: Learn how to calculate your debt ratio so that you can arrive at your new modified mortgage payment that meets the Wells Fargo loan modification program guidelines. The bank needs to see that the new payment will not exceed approximately 40% of your gross monthly income. The federal guideline is a target payment of 31% of your gross income. You can get more information about this very important tip and help to figure this all out.

Tip #6: Take your time and carefully complete the required loan modification forms so that they will be accurate and acceptable. How you complete these forms will in large part determine if you receive an approval. You must show Wells Fargo that while you cannot afford the current payment, you will be able to pay and maintain the new mortgage payment. This can be tricky, but make it easy by providing a Current and a Proposed Financial Statement.

Tip #7: Submit a complete, accurate and acceptable application that meets the Wells Fargo loan modification program guidelines. Missing or incomplete packages will be rejected and valuable time will be lost. How can you make sure you are sending in everything required? Easy, follow a Document Submission Checklist.

You can definitely increase your chances for receiving a Wells Fargo loan modification by learning and preparing ahead of time. It is pretty hard to qualify for something that you do not even know the requirements for! While not everyone will be approved, you can really give yourself the fighting chance you need to save your home by taking the time to learn all about the loan modification approval process before you contact the lender. This is not brain surgery, most borrowers can follow the easy steps and put together an acceptable loan modification application that will result in help to stay in their home. This is a frightening and confusing situation, but doing nothing is not the answer. Make the decision to take control of your financial future and get started today so you can be on your way to secure home ownership again.

You can get the help you need to apply and qualify for a Wells Fargo 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.

Obama's Home Affordable Modification-Plan Details & Who May Qualify

Susan V. Gregory (Route 66 Consulting) — Sun, 18 Oct 2009 19:29:05 -0500

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:

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

Wachovia Mortgage Loan Modification Request-How to Get Started & Get Help

Susan V. Gregory (Route 66 Consulting) — Sun, 04 Oct 2009 15:20:07 -0500

Struggling homeowners who are facing a financial hardship situation should contact Wachovia and submit a mortgage loan modification request. The federal government is offering help to borrowers who can no longer afford their home loan and are at risk of default. But, with close to 5 million homeowners seeking assistance, you need some basic knowledge about what it takes to apply and qualify if you hope to get results quickly. Here are the basics that will help you work directly with your bank to get the help you need and deserve.

The first step in a Wachovia mortgage loan modification request is to learn just what your lender is looking to see on your application in order to approve your loan workout. There are certain guidelines that a borrower must be able to meet in order for their loan to be modified. In order to determine who is eligible, your lender will ask you for an accounting of your income, expenses and assets. Then, based on the information you provide they will be able to determine if you qualify or not.

It therefore becomes critical that you know how to prepare your application forms correctly. You may need to make some minor adjustments to your budget in order to meet the approval guidelines. The only way you will know how to do this is if you have a basic understanding of the key elements the lender is looking for on your loan modification forms. Wachovia has their own loan workout plans, in addition to the government sponsored program, called Home Affordable Modification. Obama has determined a standard method of qualifying and modifying loans-so if you learn this standard formula you will have a good chance of preparing your application forms correctly and qualifying for some type of loan workout.

A Wachovia mortgage loan modification request cannot simply be "thrown together". A successful homeowner will spend just a couple of hours learning the basics of the process and then preparing their application before contacting their bank. You don't need to pay anyone to do it for you-thousands of homeowners have successfully modified themselves. Learn, prepare then submit you application. It just makes sense-your home is on the line-take the time to do it right! You can use the exact same formula that Wachovia will use to determine if you qualify for the government's Home Affordable Modification Plan. Then you will be able to make any minor adjustments to your budget so that you have the best chance of qualifying for help.

You can get the help you need to apply and qualify for a Wachovia 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

Citimortgage Loan Modification Help-Does the Obama Federal Plan Benefit You?

Susan V. Gregory (Route 66 Consulting) — Sun, 04 Oct 2009 15:10:22 -0500

Don't give up hope-there may be a solution to help you obtain an affordable mortgage payment and end the stress and frustration caused by financial difficulties. Citimortgage loan modification help is being offered by Obama's home rescue plan for homeowners who are at risk of falling behind on their mortgage payments or losing their home. The recession, record job losses and housing meltdown have caused a tidal wave of foreclosures across the nation, and the government has stepped in to offer a rescue plan for homeowners.

Citimortgage loan modification help has been slow in coming, but it is finally here. Obama has mandated that he wants to see 500,000 loan workouts completed in the next 60 days. That means that banks are really motivated to help homeowners-but only those borrowers who can prove they qualify for the program will get assistance. You are a good candidate for Obama's government loan modification plan if:

You live in the home as your primary residence
Your loan is less than $729,750 and was taken out before January 1, 2009
Your current payment is more than 31% of your gross monthly income (payment figure should include your principal, interest, property taxes, homeowners insurance and any homeowners dues)
You are facing a financial hardship situation

If you can meet these basic requirements, then you are allowed to apply for Citimortgage loan modification help. The next step is to submit your financial statement, which is a detailed accounting of your monthly income, expenses and assets. Based on the information you provide, your lender will determine if you meet the approval criteria or not. The good news is that the criteria is standard for everyone. The guidelines have been published and so if you learn exactly what your bank is looking for, then prepare your forms following those guidelines, you will have a much better chance of getting the loan modification help you need and deserve.

There is a four step formula that the bank will use to determine if you are a good candidate for a loan workout. You can learn this very same formula, then use it to prepare you own application so you have the best chance of getting approved for the lower mortgage payment you need. You can learn the formula in the #1 resource for homeowners, The Complete Loan Modification Guide.

Chase Loan Modification Program-Get Government Help to Stop Foreclosure

Susan V. Gregory (Route 66 Consulting) — Sun, 04 Oct 2009 10:17:14 -0500

When foreclosure is knocking at your door or you are getting behind on your Chase mortgage payments, it can be pretty scary and confusing to know the best option for you. There is loan modification help with a government program designed to stop foreclosure and keep you in your home. Learn more about this plan to find out if you may be eligible for federal assistance.

You are not alone, over 6 million homeowners across the county are facing financial difficulties and need a Chase loan modification program through the government assistance plan. The Treasury Department has recognized the need for some type of intervention, and so they have implemented a federally funded home rescue plan, called Home Affordable Modification. If you are facing financial difficulties, then you should consider applying for this home retention plan-these are your tax dollars at work, so don't hesitate to take advantage of this lifeboat for at-risk homeowners.

The government Chase loan modification plan has standard guideline and standard methods of modifying loans for homeowners who qualify. Home Affordable Modification aims to provide an affordable and sustainable mortgage payment for borrowers by offering a new house payment that equals just 31% of your gross monthly income. The terms of your current loan could be revised to reach this low payment by:

Reducing your current interest rate by .125% increments all the way down to 2%
Extending your loan term to 40 years
Deferring or forgiving some of the principal balance to equal the current value of your home

In order to be eligible for a Chase government loan modification program, you must prove that you cannot afford your current payment, but will be able to afford the new payment. You do this by providing a brief financial statement that outlines you income, expenses and assets. This can be the tricky part, because if you fill out your loan modification forms incorrectly you could be turned down-even though you may really be a good candidate.

Before you contact your bank to apply for a government loan modification, make sure you take a couple of hours to learn the basics and know what the approval guidelines are. You will then have a much better chance of qualifying because you have prepared your application correctly. You can learn the very same 4 step formula Chase will use to qualify you with the directions provided in the #1 resource for homeowners, The Complete Loan Modification Guide. You don't have to take a guess at what it takes to qualify, you will be able to use the formula to fine tune your application for the best chance of approval.

You can get the help you need to apply and qualify for a Chase 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.

Countrywide Loan Modification 2% Rate with Obama's Federal Plan

Susan V. Gregory (Route 66 Consulting) — Sat, 26 Sep 2009 10:10:01 -0500

Countrywide is offering Obama's federal stimulus plan with a mortgage loan modification that features an interest rate as low as 2% and provides affordable payments for struggling borrowers. Tired of the lack of cooperation from banks, lenders and servicers, Obama has stated that he expects 500,000 completed loan modifications within the next 2 months. This is a window of opportunity for homeowners who need immediate relief from delinquent payments and help to avoid foreclosure. Are you one of the approximately 5 million borrowers who may qualify for this assistance?

A mortgage loan modification is a way to change the terms of your existing loan so that you will be able to afford the payments. It is unlike a normal refinance, because you do not have to have a certain credit score or get an appraisal of your property. Basically, your lender agrees to new terms so that you can stay in your home and the bank does not have to foreclose. Countrywide will do this because very often it is the most cost effective method for them.

A Countrywide mortgage loan modification under Obama's federal stimulus plan will give you a new, lower payment that is designed to equal just 31% of your gross monthly income. This is called a target payment, and it includes principal, interest, property taxes, homeowners insurance and any homeowner dues. In order to arrive at this target payment, certain methods are used:

Reduce interest rate by .125% increments to as low as 2%
Extend the loan term to 40 years
Defer or forgive some principal balance

You are a good candidate for a Countrywide mortgage loan modification if your application meets the guidelines for approval and you can demonstrate in black and white that you will be able to afford the target payment. The federal guidelines are standard, so take the time to learn exactly how your lender will review your paperwork and then make the necessary adjustments so that you know you fit into the guidelines.

The bank will use a standard 4 step formula to determine if your loan can be modified to reach that 31% target payment. You can learn this very same formula and use it to fine tune your application before Countrywide reviews it. This is a good way to increase your chances of approval-it just makes sense to learn the approval formula, then prepare your application so it has the best chance of passing. Now is not the time to take chances-you home could be on the line-learn, prepare and then submit your Countrywide loan modification application.

Learn the 4 step approval formula and get the help you need to apply and qualify for a lCountrywide oan 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.

Wells Fargo Mortgage Modification Stops Foreclosure Immediately

Susan V. Gregory (Route 66 Consulting) — Sat, 26 Sep 2009 09:47:50 -0500

A Wells Fargo Mortgage modification is a good option to stop foreclosure immediately, bring your loan current and give you an affordable monthly payment. If time is running out for you, then it is critical to learn how you can apply and qualify for a government program to save your home. Don't give up until you find out if this is the answer for you.

When foreclosure is knocking on your door, it is easy to panic and give up. But did you know that Obama has offered a government mortgage modification plan that is specifically designed for homeowners just like you? The idea it to use the stimulus funds to pay lenders who offer a loan workout to homeowners facing the possibility of losing their home. Over 5 million borrowers may be eligible for the federal relief, and it is worth the time and effort to find out if you may qualify for assistance.

Wells Fargo is offering this federal plan, called Home Affordable Modification. The lender is participating and when you call the Loss Mitigation Department or Home Retention Department of Wells Fargo, you must specifically ask for this program. Obama has mandated that during the review process, all foreclosure activity must be halted until a determination can be made if a homeowner qualifies.

When you apply for this Wells Fargo mortgage modification, you will be asked some detailed information about your monthly income and expenses. If you can meet the approval guidelines by providing the correct information, you will have a very good chance of approval, and the foreclosure process will be stopped. It just makes sense to be certain you have good chance of qualifying by learning how to prepare your application correctly. Don't miss this chance to save your home with a government loan workout because you are not prepared.

The centerpiece of the loan workout offered using the federal plan is called a target payment calculation. If your loan can be modified using standard terms to equal 31% of the household gross monthly income, then you are a good candidate for this assistance. That figure represents the principal, interest, property taxes, homeowners insurance and any homeowners dues. The idea is to acheive a low affordable and maintainable payment so you can stay in your home. The foreclosure process will be stopped, your loan brought current and you are on the right track to secure home ownership again!

You can learn the 4 step formula Wells Fargo will use to determine if you meet the 31% approval guideline, and then be able to pre-qualify yourself. This is really an important step to take before you call the bank-that way you will be able to make any necessary adjustments to your financial statement and budget before the lender reviews your application. Take a couple of hours to learn the basics and increase your chances of success immensely.

Follow the very same 4 step formula the federal program uses and 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.

Hardship Letter for Loan Modification-Acceptable Format Design

Susan V. Gregory (Route 66 Consulting) — Tue, 22 Sep 2009 18:50:35 -0500

Did you know that the very first thing your lender will ask you when you apply for a loan modification is "Are you facing a financial hardship situation? What has happened to make your current mortgage payment unaffordable?" How you present your case is critical to your successful outcome. This is your opportunity to explain just what has happened in your life to place you in the current circumstances. Make certain that you use the accepted hardship letter format so that your lender will be convinced to offer you the help you need.

A convincing and effective hardship letter for loan modification will follow this type of format:

Date

Name of Lender

Loan #

State your request for a loan modification. If you are trying for Obama's federal plan, then specifically ask for consideration for Home Affordable Modification. You can add "or any other loan workout plan we qualify for".

Use the next paragraph to given the general reason for your request. For example, loss of income, increased expenses, medical issues, natural disaster. Give the approximate time frame this occurred. Explain how this has impacted your ability to pay your current mortgage. If you are not yet delinquent on your loan, add that you are at "imminent risk of default" if you do not get help.

Then, give some details about how you have struggled to keep up-using credit cards to pay expenses, exhausting your savings, taking in a roommate, etc. Assure the bank that you have tried everything, but have no other options but to obtain a loan modification. This hardship letter should help the lender understand that you are motivated to save your home and are doing everything you can to find a solution.

Close your loan modification hardship letter by giving just a few brief details about your family-this will help gain your lenders empathy. For example, if your kids play sports, or if you are involved in your local church or community activities. You want to help the bank understand how important it is for you to stay in your neighborhood and make a personal connection with the reader of your letter.

Then, sign off with the name of all borrowers, property address and daytime phone number. Make sure all borrowers sign the bottom of this hardship letter. Double check it for any spelling mistakes. Try to keep it to one page if possible-short, descriptive and compelling is your goal.

Make sure you cover all the critical elements of an effective hardship letter-use a helpful outline. 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.

Wells Fargo Mortgage Loan Modification Approval

Susan V. Gregory (Route 66 Consulting) — Tue, 22 Sep 2009 18:11:28 -0500

Facing a mounting pile of unpaid bills and wondering how you can possibly afford to pay your mortgage this month? Homeowners who are in a financial hardship situation may be eligible for a Wells Fargo mortgage loan modification under a government sponsored plan. President Obama has implemented a far reaching home saver effort called Home Affordable Modification. Wells Fargo is participating in the federally subsidized program, and the bank is currently offering homeowners the opportunity to apply for assistance.

What are the details of this plan and how can you apply? The first step is to contact Wells Fargo and let them know that you are facing a problem paying your mortgage and ask to be considered for Home Affordable Modification. Make certain that you only call the Loss Mitigation Department-this is a special phone number just for this purpose. Obama has mandated that all borrowers who ask for help under this federal plan be allowed to apply. This means that even if you have applied before or are in the process, you can begin the loan modification process again.

The good news for Wells Fargo borrowers is that the Home Affordable Plan has standard guidelines for approval. So if you take the time to learn about what the bank is looking to see from you, and then prepare your forms correctly, you have a very good chance of getting a loan workout. No more guessing about how to apply and who qualifies-it is all standard for everyone. The average homeowner can learn the basics and be able to work directly with Wells Fargo to successfully modify their loan.

You can use the very same 4 step formula that Wells Fargo will use to help you pre-qualify and then prepare your forms so that they pass through the standard calculations for acceptance. Don't worry-you can follow simple, step by step directions provided on page 23-26 of the #1 resource for homeowners, The Complete Loan Modification Guide.

Learn how to use the very same formula for qualifying that Wells Fargo will use and 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.

Obama's 2% Federal Loan Modification Home Saver Plan-Program Details

Susan V. Gregory (Route 66 Consulting) — Thu, 17 Sep 2009 13:21:58 -0500

Are you one of the 5 million homeowners who may be qualified for Obama's federal loan modification plan? Featuring a new mortgage rate as low as 2%, this home save program is designed to keep borrowers in their homes and stop foreclosure and defaults. Now is the time to learn if you could benefit from this government outreach. Don't hesitate to apply for assistance-after all this program is paid for with your tax dollars and you deserve this help.

Banks, lenders and servicers have agreed to follow standard guidelines for qualifying and modifying home loans using this federal plan, called Home Affordable Modification Program. In return, the lenders will be paid an incentive by the Treasury Department for each mortgage modified using this government plan. This means that your bank has a big incentive to help you-all you have to do is to prepare your loan modification application correctly so that it meets the standard guidelines and you have a good chance of approval.

The centerpiece of the Home Affordable Modification Program is to modify home loans so that the monthly payment is reduced to equal just 31% of the borrowers gross monthly income. This is accomplished by using a set of methods in this order:

Lower the interest rate to as low as 2%
Extend the loan term to 40 years
Defer or forgive some principal balance

If your new 31% target payment can be achieved by using these methods, then you are a good candidate for approval. You can learn the 4 step formula your lender will use, and then apply that to your own application. This way you know ahead of time that you qualify, and if needed you can make any necessary adjustments to your figures so that you fit right into the guidelines. Don't worry-you can follow simple step by step directions to use this formula in the #1 resource for homeowners, The Complete Loan Modification Guide.

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.

The Obama Federal Loan Modification 4 Step Formula Used to Qualify by your Lender

Susan V. Gregory (Route 66 Consulting) — Thu, 17 Sep 2009 13:06:38 -0500

You can use the very same formula your bank will use to determine if you qualify for the government home rescue plan. Obama's federal loan modification plan uses a standard 4 step formula to determine which homeowners qualify for a loan workout. You can learn this basic formula and have a lot more control over whether you are approved for this government plan. All lenders who participate in the federal Home Affordable Plan have been mandated to use the same guidelines-so it just makes sense to learn what these steps are and use them to prepare your own application correctly.

Did you know that even if you have applied before and been turned down you are allowed to request consideration for the Home Affordable Plan again? Obama has required all participating banks to review every application from a homeowner who requests consideration. This is your second chance-make sure you take the time to learn exactly what your bank will be looking for in order to approve you.

Lenders using the Home Affordable Modification Program will use 4 steps to determine who qualifies. You can follow these very same steps to pre-qualify yourself and make any necessary adjustments to your budget before your bank reviews your paperwork.

The 4 Step Formula for Home Affordable Modification Program Eligibility:

Determine whether borrower's monthly mortgage payment ratio exceeds 31% of their gross monthly income
Verify borrowers total monthly debt ratio
Calculate target monthly mortgage principal and interest payment amount
Complete the necessary modification steps to achieve the target payment-reduce interest to as low as 2%, extend loan term to 40 years, defer or forgive some principal balance

You can learn more details about how to determine your own target payment, calculate your debt ratio and prepare your financial statement correctly by using a homeowner guide. It is not difficult-just a simple math calculation that you can do yourself following step by step directions provided in the #1 resource for homeowners, The Complete Loan Modification Guide. Don't take chances with your success-take the time to learn and prepare before you apply.

Wachovia Loan Modification-What's the Real Deal & How to Get Help Fast

Susan V. Gregory (Route 66 Consulting) — Sat, 12 Sep 2009 16:11:34 -0500

Frustrated by the process and confused about trying to get a Wachovia loan modification? Unfortunately, you are not alone-this lender has been very hesitant to offer any type of meaningful, far reaching loan modification to its borrowers. The good news is that the bank is offering the federal loan workout program, called Home affordable Modification and is finally actively modifying loans for those borrowers who can meet the guidelines.

The federal plan, Home Affordable Modification, and is paid for by the stimulus funds with $75 billion set aside to help homeowners stay in their home. Wachovia is approved by the Treasury Department to offer this plan, and the bank will be paid for each modification they complete using the standard terms. So, this means that Wachovia is motivated to help as many homeowners as possible with lower, more affordable mortgage payments.

If you are facing a financial hardship and cannot afford your mortgage, the best course of action for needy Wachovia borrowers is to continue to be the squeeky wheel and pursue the loan modification option by diligently contacting the lender regularly. Homeowners who are at least have a good general understanding of the process and their rights will have a better chance of getting the help they need and deserve. You need to know the general guidelines for approval before you prepare your application. Wachovia will use a formula to determine if you qualify-if you learn this formula and use it on your paperwork, you will be able to give yourself the inside edge you need to get approved.

You can learn the basic formula and learn how to calculate your debt ratio, target payment and disposable income yourself. Fortunately, struggling homeowners do not have to try to figure this all out for themselves. An easy to understand guide is available that can take the confusion and stress out of the Wachovia loan modification process. The Complete Loan Modification Guide has been written to help educate and protect vulnerable homeowners by providing easy to follow step by step instructions for preparing a professional and acceptable loan modification. Homeowners can save hours of frustration and get back on track with the help of this informative loan modification kit. A knowledgeable homeowner is a powerful homeowner-take control of your financial future and get started today by ordering and downloading The Complete Loan Modification Guide.

Chase Loan Modification Programs & How they Work

Susan V. Gregory (Route 66 Consulting) — Sat, 12 Sep 2009 15:33:59 -0500

Borrowers who are at risk of losing their homes or unable to afford their current loan may be eligible for a Chase Loan Modification. the bank has several options available for homeowners, including the federal program, Home Affordable Modification Plan. Borrowers who are facing financial hardship need to find out about the alternatives available to them to avoid foreclosure. Here are some of your options:

Repayment Plan: If you have a temporary reduction in your income or a temporary financial hardship, Chase may offer you a repayment plan to bring your loan current. This plan will allow you to make up the missed payments by paying a portion of the past due amount each month in addition to your normal payment.
FHA Loan-Partial Claim: A loan is issued by the FHA insurance fund to pay the past due amount and bring your loan current. You sign a promissory note for the delinquent amount, however no interest or payments on due on this loan until the home is sold or refinanced. Your payments must be at least 4 months in arrears but no more than 12 months behind.
Chase loan modification: Borrowers who have experienced a financial hardship due to reduction in income, medical expenses, death in family, or a legitimate increase in expenses may qualify for a loan modification.

The Chase loan modification process requires the homeowner to submit an application for loan modification that includes certain documentation that will be reviewed before a loan workout option is recommended. The bank needs to have a good understanding of your current financial situation. Below is a list of some of the information required by Chase:

Hardship Letter outlining the events which have caused the difficulty
Financial Statement
Pay check stubs, W2, tax returns
Bank statements

It is important that the loan modification forms are completed accurately and correctly by the homeowner so that they will have a better chance of qualify for assistance. a clear understanding of what is required by the lender during the loan modification process can make the difference between an approval or denial. A successful loan modification results in a lower, affordable and sustainable monthly payment for the homeowner. A loan modification my include one or more of the following options to arrive at a new affordable monthly payment:

Interest rate reduction
Longer loan term ie: 40 years
Principle forgiveness to restore lost equity

IMPORTANT-Don't wait until it's too late to ask for help. The Chase modification process takes some time, so borrowers facing payment default should start now to learn as much as they can about loan modifications. Not all borrowers will qualify, so it is important to learn about the guidelines for acceptance before beginning the loan modification process. Even the most deserving homeowner will be declined if the paperwork is not completed properly. Now is the time to get educated and be prepared to save your home with a loan modification.

You can get the help you need to apply and qualify for a Chase 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.

Formula for Getting Approved on a Wells Fargo Loan Modification

Susan V. Gregory (Route 66 Consulting) — Thu, 10 Sep 2009 17:12:42 -0500

Trying to figure out if you qualify for a Wells Fargo loan modification and then preparing your application can seem overwhelming. But you don't have to take chances with your loan modification proposal-learn the guidelines for debt ratio and target payment under the government's workout plan. The bank is offering this very aggressive program to homeowners who are either in default or at risk of default-so you may be able to qualify for a very low payment-the trick is to be able to complete your application forms so that the bank can verify that you meet the standard approval guidelines.

This federal plan is called Home Affordable Modification Plan, and it has standard requirements that every borrower must be able to meet. These guidelines are the same for everyone, so as long as you can prove that you meet that criteria, you will very likely be approved. It's simple really-learn those guidelines, then prepare your financial statements so that they fit within the guidelines. You may have to make some adjustments to your budget, but at least you have the opportunity to fine tune your application before your lender reviews it.

The Wells Fargo federal loan modification plan is designed to offer all eligible homeowners an affordable and sustainable mortgage payment. The government wants you to stay in your home-and they will pay your lender to modify your loan using the standard terms of Home Affordable Modification. Don't hesitate to apply for this plan-after all, it is paid for with your tax dollars and you need and deserve this help.

The formula for debt ratio and target payment has been mandated by the Treasury Department. The goal is to arrive at a new payment that equals just 31% of your household's gross monthly income. That new modified payment is called your target payment. There are standard methods of reaching the 31% payment-first lower the rate to as low as 2%, extend the loan term to 40 years, and finally if needed, defer or forgive some of the principal balance. If the target payment can be achieved by using these methods, then you are a good candidate for help. Your other debts must also be accounted for, and you must prepare your financials so that you have the proper amount of disposable income.

Now is not the time to slap your application together and hope for the best-take the time to use a handy resource guide and learn how to prepare your paperwork correctly. Just by following a few simple steps and making some minor adjustments, you can greatly increase your chances of getting your loan modification approved. You can learn the exact formula and use simple step by step directions with the help of the #1 resource for homeowners, The Complete Loan Modification Guide. It just makes sense to learn how the bank will determine your eligibility before you apply.

Learn more about the formula used, debt ratio, target payment and 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.

Countrywide Loan Modification Approval Formula-Learn how the Bank Decides

Susan V. Gregory (Route 66 Consulting) — Thu, 10 Sep 2009 16:59:03 -0500

Tired of sleepless nights and stress filled days worrying about losing your family's home? There is a way to take much of the anxiety out of applying for a Countrywide loan workout. Obama's loan modification plan has standard guidelines for approval and a pre-determined formula that the bank will use to qualify you. If you use these same steps and formula to prepare your application, you will have a very good chance of getting the loan work out you need.

President Obama and the Treasury Department is encouraging all at-risk homeowners to contact their lenders and ask to be considered for the Home Affordable Modification Plan. Countrywide is offering this plan, and the bank is required to review your application and determine if you are eligible. During this review process, all foreclosure proceedings are to be halted. This is a great opportunity for you to take advantage of the governments stimulus plan and get your share of the $75 billion set aside for deserving homeowners.

When you ask Countrywide to review your situation for the Home Affordable Modification Plan, the first thing they will ask you for is a financial statement. This is a breakdown of your monthly income and expenses. The information you provide will be used in a formula, and based on the results, you will either qualify or not. That is why it is critical to understand the formula and then prepare your application forms correctly. You can make any necessary adjustments to your budget before the lender reviews it-it just makes sense to work on this very important form before you contact your bank.

The basic formula for the Home Affordable Modification Plan revolves around being able to achieve a target payment that equals 31% of your gross monthly income by using the standard methods of reducing your interest rate, extending your loan term, and deferring or forgiving some of the principal balance. You must also show on your financial statement that you will have the right amount of disposable income each month after you pay all of your other bills. You can follow the exact steps your lender will use to make sure you are within guidelines with the help of the #1 resource guide for homeowners, The Complete Loan Modification Guide. Now is not the time to take any chances-spend a couple of hours learning and preparing. Your efforts will pay off with a new, affordable mortgage payment.

Learn more about the formula Countrywide uses to qualify you and 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.

Bank of America Loan Modification Formula Used for Debt Ratio & Target Payment

Susan V. Gregory (Route 66 Consulting) — Tue, 08 Sep 2009 18:16:11 -0500

You don't have to take chances with your Bank of America loan modification proposal-learn the guidelines for debt ratio and target payment under the government's workout plan. Homeowners who are either in default or at risk of default may be able to qualify for a very aggressive loan modification-the trick is to be able to complete your application forms so that your lender can verify that you meet the standard approval guidelines.

This federal plan is called Home Affordable Modification Plan, and it has standard requirements that every borrower must be able to meet. These guidelines are the same for everyone, so as long as you can prove that you meet that criteria, you will very likely be approved. It's simple really-learn those guidelines, then prepare your financial statements so that they fit within the guidelines. You may have to make some adjustments to your budget, but at least you have the opportunity to fine tune your application before your lender reviews it.

The federal loan modification plan is designed to offer all eligible homeowners an affordable and sustainable mortgage payment. The government wants you to stay in your home-and they will pay your lender to modify your loan using the standard terms of Home Affordable Modification. Don't hesitate to apply for this plan-after all, it is paid for with your tax dollars and you need and deserve this help.

The formula use by Bank of America for debt ratio and target payment has been mandated by the Treasury Department. The goal is to arrive at a new payment that equals just 31% of your household's gross monthly income. That new modified payment is called your target payment. There are standard methods of reaching the 31% payment-first lower the rate to as low as 2%, extend the loan term to 40 years, and finally if needed, defer or forgive some of the principal balance. If the target payment can be achieved by using these methods, then you are a good candidate for help. Your other debts must also be accounted for, and you must prepare your financials so that you have the proper amount of disposable income.

Now is not the time to slap your application together and hope for the best-take the time to use the handy resource guide, The Complete Loan Modification Guide and learn how to prepare your paperwork correctly. Just by following a few simple steps and making some minor adjustments, you can greatly increase your chances of getting your loan modification approved.

Learn more about the debt ratio and target payment formula and get the help you need to apply and qualify for a Bank of America 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.

Obama's Home Affordable Modification-The Standard Formula for Approval

Susan V. Gregory (Route 66 Consulting) — Tue, 08 Sep 2009 18:06:50 -0500

Confused about your options and worried about losing your home? If you are you ready to really get serious about saving your home, there is a solution for high, unaffordable mortgage payments offered by the Federal government for qualified homeowners. Make sure you are one of the eligible borrowers so that you can take advantage of this very aggressive loan workout plan. This program is paid for with your tax dollars-so don't hesitate to learn how it works, what is required and what the formula for approval is so that you can qualify quickly.

This plan is called Home Affordable Modification and it features standards guidelines and methods of modifying home loans for eligible borrowers. The Treasury Departments has required all banks to use the same formula to determine which borrowers are qualified. This makes it much easier for the average homeowner to pre-qualify themselves and greatly increase the chances for approval. It's pretty simple-learn the formula, use the formula on your loan modification forms-and you are on your way to getting the loan workout you need.

So, just what is this formula and is it hard to learn? The centerpiece of the plan is called a target payment. This figure represents what you new mortgage payment should be and is designed to offer terms that will achieve this target payment. The bank will use a formula to arrive at this payment, and they will use a standard set of terms to modify your loan to meet that payment. If you can do basic math and use the provided charts, you can easily do this yourself.

Basically, the Home Affordable Modification target payment is designed to equal 31% of your gross monthly income. So, take your income and multiply it by 31%-the figure equals the payment your loan workout will strive for. The way the bank gets to that payment can include lowering your interest rate to 2%, extending your term to 40 years or deferring or forgiving some principal balance. You can use this basic formula yourself when you work on your Current Financial Statement and your Proposed Financial Statement. Simply follow some easy directions to determine your target payment and debt ratio, and you will know right away if you are a good candidate for approval or not!

Use this basic formula to help you prepare your loan modification forms correctly-make any necessary adjustments to your budget and bills so that you have the right amount of disposable income left over at the end of the month and you are on your way to the affordable mortgage you need.

How to Get a Fannie Mae Home Affordable Modification Approved Quickly-Learn the Steps

Susan V. Gregory (Route 66 Consulting) — Fri, 04 Sep 2009 14:05:31 -0500

There is a plan available for homeowners who are either in default on their mortgage or facing imminent default due to financial hardship. Sponsored by Fannie Mae and paid for by the Treasury Department with $75 billion in stimulus funds, this loan modification program could be the answer you need to say in your home. Learn what is required to qualify and how to apply correctly so that you can get the help you need quickly.

The Fannie Mae plan is called Home Affordable Modification, or HAMP. The best feature of this program is that it offers standard approval guidelines and standard methods of modifying your loan. This means it is much easier to apply and qualify-IF you know what those guidelines are. If you want to get approved quickly, it makes sense to learn the basics, work on your loan modification forms ahead of time and make any necessary adjustments, and then submit your proposal that you know meets the approval criteria.

Here is the basic method that all lenders use to determine if a homeowner is eligible for this plan:

Do you live in the home as your primary residence?
Is your current mortgage payment greater than 31% of your gross monthly income? (including principal, interest, property taxes, homeowners insurance and any homeowners dues)
Was you loan taken out before January 1, 2009?
Is your loan amount less than $729,750? (for 1 unit properties-higher limit for 2-4 units)
Are you facing a hardship situation making your payments unaffordable?

The Fannie Mae Home Affordable Modification will use the same method of determining your new modified payment for everyone, and you must be able to meet this debt ratio calculation to qualify:

New target payment equals approximately 31% of gross monthly income
Gross monthly income times 31% equals close to target payment
Decrease interest rate to as low as 2%, extend loan term to 40 years, defer or forgive principal balance to reach target payment and meet 31% debt ratio requirement.

There are 4 steps to determine if you can meet the target payment and debt ratio requirement. Learn these steps and you can pre-qualify yourself easily. Then you can prepare your loan modification forms correctly, present an acceptable proposal and your application will have a very good chance of getting an approval quickly. You can use the step by step directions included in the #1 resource for homeowners, The Complete Loan Modification Guide to make sure you have prepared your proposal correctly following the same 4 steps the lenders use.

Learn the 4 steps to qualify for a Fannie Mae loan modification and get help to qpply 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