federal loan modification: How do I Qualify for a Bank Of America Loan Modification-Steps to Apply & Approval - 10/23/09 05:41 AM
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 … (3 comments)

federal loan modification: Chase Loan Modification with Principal Reduction-Why Homeowners Qualify - 08/07/09 08:13 AM
Chase is approved by the Treasury Department to offer the Home Affordable Modification Plan.  One provision of this federally subsidized program allows for part of a loan's principal balance to be forgiven.  A Chase loan modification that features a reduction in the principal balance is offered to some homeowners-but who qualifies for this very important feature and why?  The $75 billion dollars set aside to help homeowners find loan workout solutions serves to encourage Countrywide and other banks to offer very aggressive options.  Homeowners who are struggling with unaffordable mortgage payments and now owe more than their home is worth need … (13 comments)