Federal Plan

There are new program guidelines effective April 2010 that borrowers needing a Wells Fargo loan modification should be aware of.  The Fed has been frustrated with the low number of completed loan workouts so far, and has made some changes to the HAMP procedure to help homeowners and the lenders process applications much more quickly. The updated process for HAMP approval is much more streamlined and promises a quick answer for borrowers who apply correctly.

How do you apply for a Wells Fargo loan modification and more importantly how do you qualify for a loan workout?  HAMP is a federal program that the lender uses to modify qualified borrowers using that standard guidelines and methods.  The good news for homeowners is that since the guidelines are standard for everyone, you don’t have to guess about what it takes to qualify.  Simply learn those guidelines and apply them to your own application so you have the best chance of appoval.

A Wells Fargo loan modification in 2010 can mean that your interest rate could be as low as 2%, and

Know the Guidelines

your total monthly mortgage payment will be much more affordable for you.   Remember, Wells Fargo will only get paid from the Treasury Dept to modify your loan if you can prove that you fit into the federal guidelines.  Your job is to prepare and submit an accurate, complete and acceptable loan workout package.

If you are not sure just what it takes to qualify, take the time to learn the federal formula for qualifying.  This formula uses your gross monthly income, loan amount and standard methods of modifying-like lowering your interest rate.  Sometimes a minor adjustment to your financial statement is all that it takes to qualify-but if you don’t know that ahead of time you could find yourself denied for a loan modification.

Does all the calculations for you!

There is a software program designed just to help homeowners prepare their loan modification application and will do all the calculations for you automatically.  You will see immediately if you need to make any minor adjustments to your figures in order to fit into the approval guidelines for HAMP.  This will save hours of time and frustration, as well as help you avoid costly mistakes.

Not sure how to qualify for a loan modification? Loan Mod Quick App software takes the confusion out of preparing your application. This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! You can save hours of time and avoid costly mistakes.

Download immediately!

The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more. Visit myloanmodificationcenter.com and order today-Immediate download!

Federal Plan

If you have been frustrated and confused about how to get an answer on your request for a loan modification under the HAMP guidelines with the federal plan, then before you contact your bank make certain that you understand the 2010 updates.  The new revised procedure for applying for a loan modification allows for response from banks within 30 days of correctly submitting your application.

The HAMP loan modification update for 2010 has streamlined the application process and made it much simpler to apply and to qualify homeowners quickly.  Lenders complained that the Fed required too much paperwork from borrowers, so now there is less documentation required to be submitted for review of eligibility.

Here is the basic HAMP 2010 update:

1. Upon request for a loan modification, the homeowners request will be acknowledged within 10 days and an application package mailed out for completion.
2. Homeowners will be asked to prepare a financial statement, provide paycheck stubs, a signed 4506t form, and a hardship letter.
3. Upon receipt of a correct and complete application package, a decision will be made as to whether the borrower qualifies for a loan workout, and within 30 days the homeowner will be notified of the decision.
4. If approved for HAMP, the borrower will be put on a 3 month trial modification, at the successful completion of the trial period the modification will be made permanent automatically.
5. If declined for a loan workout, then other options may be offered, such as a HAFA short sale or deed in lieu of foreclosure.

It is critical that homeowners understand how to prepare their financial statement correctly so that they

Know the Guidelines

have the best chance of fitting into the 2010 HAMP guidelines.  There is a mathematical equation that lenders use to qualify homeowners that is standard.  Use this formula on your own application so that you know you fit into the guidelines and will qualify for some help.

If you are not sure how to figure your budget, including debt ratio, new target payment, asset ratio, and the other 5 triggers for approval, then you may want to use a software program that will do all these calculations for you automatically.  You can save a lot of time and avoid mistakes by using this program, and give yourself the best chance of approval too.

Does all the calculations for you!

Not sure how to qualify for a HAMP loan modification? Loan Mod Quick App software takes the confusion out of preparing your application. This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! You can save hours of time and avoid costly mistakes. The Complete Loan Modification Guide kit is the

Download immediately!

best selling do-it-yourself system that includes the software, handbook, forms and much more. Visit myloanmodificationcenter.com and order today-Immediate

Federal Plan

Homeowners need help to prepare their loan modification application correctly so that they have the best chance of approval.  There is a formula that lenders use when considering borrowers for the HAMP loan workout option-so it is critical to know the formula and then be able to complete your financial statement so that it meets the program approval guidelines.  The Loan Mod Quick APP is the software program that provides all the calculations automatically and helps to prepare an acceptable application.

Borrowers may need help to figure their debt ratio, new target payment, disposable income, asset ratio and the other qualifying criteria to get approved for HAMP so that their mortgage payment will be reduced to an affordable amount.  The Loan Mod Quick APP makes it much easier to determine what adjustments may need to be done to the financial statement so that there is a much better chance of approval.  It’s simple-either you fit into the formula or you don’t.  Lenders simply use the information you provide to them-so make certain you give them the right information – in the the right format.

Does all the calculations for you!

The Loan Mod Quick APP is a software program designed just for homeowners trying to qualify for HAMP.

Know the Guidelines

It’s easy to use, and quickly gives you the figures you need to find out if you qualify or not.  You see immediately if you need to fine tune your figures-simply input your own monthly income, expenses, bank balances, etc and all the calculations are done automatically and immediately.  This important tool will help you avoid mistakes and save hours of frustration and confusion.

Not sure how to qualify for a loan modification? Loan Mod Quick App software takes the confusion out of preparing your application. This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and

Download immediately!

other important calculations for you. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! You can save hours of time and avoid costly mistakes. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more. Visit myloanmodificationcenter.com and order today-Immediate download!