Pass the Approval Formula

Homeowners trying to qualify for a Citimortgage loan modification stand a much better chance of approval with the help of loan mod software calculators that actually show whether the guidelines are being met on their application forms.   The most common reason for denial on a loan workout is because the homeowner did not complete their application correctly and were unable to prove in black and white that they met the standard guidelines.

A Citimortgage loan modification can only be offered to those borrowers who meet the criteria for acceptance.  A lower mortgage payment using the waterfall method of modification provides a very affordable monthly payment and allows a homeowner to keep their home and avoid foreclosure.  The best way to ensure approval is to know ahead of time how to prepare the application correctly so that the information provided passes the formula used by the bank.

The loan modification software calculators utilize the same formula

Sample Monthly Budget-Follow It

Citimortgage uses, and allows the borrower to actually double check their information for acceptability prior to submitting it.  How do you know if your monthly income is sufficient to qualify?  If it is too high or too low you could fail the trigger.  Your monthly expenses and bank balances must also fit into the program criteria and this is where use the loan mod calculator will be essential.  The calculator automatically computes and displays whether the financial information input is passing or failing, and shows just where to fine tune the figures to pass

Citimortgage will also use an NPV calculation to determine eligibility – this stands for Net Present Value and is a formula that uses the homeowners specific situation, including present mortgage information and current market value of home to determine if a loan modification is possible.  There is a new NPV calculator that can be used by the homeowner before submitting their paperwork that will figure a passing or failing-for more information on this visit checkmynpv.com.  This should be used in conjunction with the loan mod software calculator to prepare the final application form.

Inside Formula

The next step is to run your monthly budget figures through the loan modification software calculator again to double check that you are passing all of the 7 approval triggers.  Then use your fine tuned figures on your final Citimortgage loan modification application form with confidence knowing you have done everything you can to ensure an approval.  The final decision is always with the bank, but at least you can give yourself a fighting chance!

Learn how to apply and qualify for a Citimortgage loan modification with the help of the loan modification calculators and use the #1 resource for

Download immediately!

homeowners, The Complete Loan Modification Guide kit.  You receive step by step directions, all required forms and the calculator automatically generates your very own sample monthly budget to follow.  Visit MyLoanModificationCenter.com for more information.

Those homeowners who are having trouble making their mortgage payment or you are at risk of losing their homes may be eligible for a Citimortgage loan modification and qualify for the streamlined approval process.  The bank is now approved to offer the federal loan workout program that is funded by $75 billion dollars of stimulus money.  Learn how you may be eligible for relief using the very aggressive program initiated by President Obama to help borrowers keep their homes.

Citimortgage has agreed to abide by the loan modification terms set forth by the Treasury Department, and in return the lender will be paid for each loan workout that meets the federal guidelines.  The approval process basically involves 3 steps for homeowners-if you know how to navigate your way through and can prove you meet the guidelines, then you will be on your way to a low mortgage payment.

1. Step one is to make sure you can pass the basic eligiblity questionnaire.  If you can meet these guidelines, then you can go on to the second step.  Do you live in the home as your principal residence?  Was your loan taken out before January 2009 and is the balance less tan $729,750?  Is your current payment more than 31% of your gross income?  Are you facing a financial hardship situation?
2. If you passed those questions, then step 2 is to actually complete the loan modification forms and provide proof of your income and assets.  Be careful!  Remember, the information you provide will determine if you get approved or not-this is not the time to slap something together!  Take the time to learn about the approval guidelines, and know how to make adjustments to your budget so that you will qualify.  You can get help to complete your own loan modification forms and learn the insider tips to success in Chapter 2 of the best selling resource guide for homeowners, The Complete Loan Modification Guide.
3. You will be given a short telephone interview and you will be asked a few questions to verify the information you provided.  Make sure you have copies of all of the forms you submitted as will as all the other documents in front of you so you don’t stumble or say the wrong thing.  Learn what to say and what NOT to say in Chapter 3 of The Complete Loan Modification Guide.

Once you are approved for a Citimortgage loan modification you will be on a 3 month trial-make sure you make all of the payments on time.  Then the workout will be finalized and you can begin getting your finances back on track.  Learn the secrets to fixing your credit score in the bonus Chapter 9 of The Complete Loan Modification Guide.  These are hard times for millions of homeowners-but only those who take the time and make the effort to learn, prepare and then get going will be successful.

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.

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, your loan mod in a box. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

Homeowners seeking help with unaffordable mortgages may be getting some much needed good news with a new Citigroup loan modification announcement.  Over $2 trillion dollars have been lost in home equity - resulting in many borrowers owing more on their mortgage than their home is worth.  This makes refinancing almost impossible and selling a challenge as too.  Well, for the first time since the housing crisis began, a major lender has agreed that courts should be allowed to order reductions in principal for troubled homeowners who owe more than their home is worth during a bankrupcty proceeding.

Citigroup loan modification programs have up until now not offered any reduction in principal balance and the lender represented the strong resistance by all lenders to voluntarily reduce the amount a homeowner owes on their loan, regardless of the loss of equity.  Although many lenders announced they would offer some principal reductions, the reality has been that borrowers have not been offered that option on a loan modification.  Now that Citigroup has indicated acceptance of this option, other major lenders are expected to follow suit.

This new option for a Citigroup loan modification is deemed necessary to stem the rapid rise in foreclosures, which has quadrupled since the fall of 2007, potentially affecting 8 million homeowners across the country.  Lenders have been offering loan modification programs based on other means of reducing the monthly payments, including extending the loan term and lowering the interest rate.  However, indications are that many borrowers run into trouble again, because their payments remained too high after the loan modification or because the homes had lost so much value that it was not realistic to continue making payments on an inflated value.

Citigroup stated that it would support legislation giving Bankrupcty courts the power to reduce loan balances provided it applied to mortgages in effect only prior to passage of the act.  To be eligible, borrowers would have to contact their lenders to try to work things out before filing bankruptcy.

If you need help with a Citigroup loan modification, now is the time to get informed and be prepared to submit your application to begin the loan modification process.  Citigroup is now willing to offer much more aggressive loan modification programs to qualified borrowers because they acknowledge that previous efforts have failed to stop the rise in foreclosures.  The bank also has received an influx of capital as part of the government’s economic rescue plan and may be in a better position to start offering meaningful help to desperate homeowners.  Interested borrowers should act now to get their loan modification application into the lender, as their is expected to be a huge demand for this assistance.

Get started today and get the help you need to understand the Citigroup loan modification process by ordering and downloading The Complete Loan Modification Guide. This is a low cost, easy to read handbook 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. Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide.

For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com