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:

1. Reduce interest rate by .125% increments to as low as 2%
2. Extend the loan term to 40 years
3. 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. 

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