Good question-why do some homeowners get their loan modifications with Countrywide completed in 30 days while other borrowers wait and wait and wait?  If you are facing the possibility of losing your home, you don’t have time to wait around and worry.  Here are some important things you can do to help speed your application along.

1. Make sure you know exactly what Countrywide needs to see from you in order to approve your application quickly-if you don’t send everything in the first time-your answer will be delayed while they move onto the next file.  You can follow a simple Submission Checklist found in Chapter 10 of the best selling handbook for homeowners, The Complete Loan Modification Guide.
2. Prepare your budget-detailing your income and expenses-ahead of time.  This way you have the chance to make the necessary adjustments so that you fit into the approval guidelines.  Even a $100 adjustment could make the difference between approval and denial.  Get step by step directions for completing your financial statements correctly in Chapter 3 of The Complete Loan Modifcation Guide.
3. Compose your hardship letter so that it gives just enough details to make it convincing, but is not so long the lender won’t even read it.  An effective letter contains 3 critical elements-you can follow an easy outline provided in Chapter 10 of The Complete Loan Modification Guide to make sure you include everything you should.
4. 4.  Compile all of the paperwork, make copies of everything for your records, then fax it and mail it to Countrywide.  Now mark your calendar to call and check the status every 5 days.  You want to make sure it has been received and is at the top of the stack.

Homeowners are getting loan modifications with Countrywide-but successful homeowners know the tips to get results fast.  If you don’t take the time to learn and prepare you are taking a big chance-now is not the time to just “Wing it”-your home deserves a few hours of your time to learn and prepare.

You can get the help you need to apply and qualify for a Countrywide 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 beginning their Countrywide loan modification application need to be careful when completing the forms.  Remember, the information you provide to the bank will be used to determine if you qualify or not.  This is not the time to “wing it”-you should have a good understanding of just what the bank will be looking for to approve you-then you can use that information to complete your paperwork correctly.  Here are some tips to help you get started.

Countrywide loan modification application tips:

1. 1.  Budget or financial statement:  this form is critical-the bank will review your income and expenses very carefully to determine if you can afford to pay and maintain the new modified payment.  This form is where you demonstrate that you will be able to afford the payment once it is modified.  Here is where you will eliminate any unnecessary items from your budget, and make any adjustments to your other expenses so that you meet the disposable income guidelines and debt ratio guidelines.  Work on this ahead of time, so you have it prepared before you contact the bank.  Get help to figure your debt ratio and prepare your financial statements in Chapter 2 of the best selling handbook for homeowners, The Complete Loan Modification Guide.
2. Hardship Letter:  Tell Countrywide what has happened to cause the current mortgage to be unaffordable-but do in a short but compelling way.  This is your chance to gain the banks empathy and understanding-so add a few personal details but don’t write a novel-the lender is swamped with requests.  Make sure your letter includes the 3 critical elements of a convincing letter found in Chapter 3 of The Complete Loan Modification Guide.
3. Get Organized:  Gather all of the required documents together:  Clear off the kitchen table and start gathering everything you will need to present to Countrywide.  This will include proof of your income and assets, utility bills, car payments, credit card bills, etc.  You want to have all of this in front of you so you can refer back to it when you complete your forms, but also when you call the bank in case they need it.  You can follow a simple Document Checklist found in Chapter 10 of The Complete Loan Modification Guide.
4. Determine your target payment:  This is your goal, a payment that is affordable and meets Countrywide’s guidelines.  While the bank makes the final determination of how to modify your loan, you should have a goal in mind and work towards that payment when negotiating with the bank.  Don’t settle for a payment that you know you will not be able to maintain.  Use the Proposed Financial Statement provided in Chapter 10 of the home-edition kit, The Complete Loan Modification Guide to help you prepare your target payment and work out your new budget.

Do not contact the bank until you have worked on your Countrywide loan modification application and made all the necessary adjustments ahead of time.  You do not want to be on the phone with the bank and take the chance of saying or doing the wrong thing.  Learn, prepare, make adjustments, then contact the bank.  It just makes sense if you hope to be successful and get the lower payment you need and deserve.

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

watch?v=fV92aSTdB7E

Many homeowners who have paid thousands of dollars to loan modification companies but gotten no results may be in for a big surprise.  Countrywide has been contacting homeowners directly offering to help them with a loan workout and encouraging the homeowner to work directly with the bank.  Is this good or bad-what’s the real deal?

Some bad apples have really given the loan modification companies a bad name-many former mortgage brokers looking for a new source of income simply changed their signs and went from writing bad loans to charging borrowers to fix bad loans.  The stats on how many homeowners actually received that help is alarming-companies boasting a “95% success rate” have actually been found to have only completed a handful of loan modifications.  So vulnerable borrowers had just forked over the last of their savings and were left out in the cold.  No wonder the Feds and the lenders are shouting, “Beware of anyone asking for money upfront!”

Get the Right Person on the Phone!

Now Countrywide is getting proactive by contacting homeowners directly and starting the loan modification process over the phone in an attempt to short circuit any more payments to loan mod companies-and this includes companies led by attorneys as well.  The truth is that the vast majority of borrowers can successfully work directly and get a loan modification for free.  BUT… there’s always a but, so read on.

If Countrywide calls you directly, do not give them any of your information until you have taken the time to prepare your application beforehand.  Why is this so important?  Well, if you start giving them alot of information without first working on your budget and financial statement, you won’t know if you are hurting your chances for approval or not.  You need to know ahead of time what the approval criteria is and then work on your budget and financials, get your paperwork all in order so that you will know exactly what to say and how the application needs to be completed.

The good news is that borrowers are being contacted-the bad news is that many will unknowingly hurt their chance for getting approved by providing the wrong information.  If you need a Countrywide loan modification, this could be your one chance-make sure you do it right!  Your time and effort will be worth it.

You can get the help you need to apply and qualify for a Countrywide loan modification by ordering and downloading 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.

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

Home Edition Loan Modification Kit with Customer Assist

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.

Homeowners may be contacted directly by the lender to apply for a Countrywide loan modification as the bank rolls out the Obama federal plan, Home Affordable.  That is great news and a step in the right direction, BUT, before you hastily send in your application or give the bank your information over the phone, read this.

The truth is that not every borrower will qualify for a Countrywide loan modification.  If you want to have the best chance of approval, make sure you take one hour of your time before you send in your loan modification application to get prepared.  Once you give Countrywide your application and your financial information, it will be too late to make any changes later.  You must get this right the first time if you want to get that lower mortgage payment you need to stay in your home.

A Countrywide loan modification involves preparing financial statements, writing a hardship letter proving your financial situation and eligibility and providing the bank with certain documents.  Do you know how to complete your financial statement so that it meets the approval guidelines? Do you know the 3 critical elements of a convincing and acceptable hardship letter?  Can you calculate your debt ratio and determine your new target payment?  If you need help with these important application steps, then make sure you take the time to learn before you send in your paperwork.

The good news is that help is available-if you know how to get it.  You don’t have to try to figure this out all by yourself or pay thousands of dollars to a company.  We agree with President Obama, you can and should work directly with the bank.  Just make sure you have a good general understanding of how to get approved before you speak with Countrywide-it could be the difference between approval or denial.

You can get the help you need to apply and qualify for a Countrywide loan modification by ordering and downloading 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? 

Home Edition Loan Modification Kit with Customer Assist

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 and download The Complete Loan Modification Guide.  For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

The lender may be calling or sending out notifications to homeowners offering the chance to apply for a loan modification under the new programs announced by President Obama.  While this is good news, be very careful about what you disclose to the bank.  If you say the wrong thing or submit incorrect loan modification application paperwork, you could be denied!  Here is what you need to do now in order to make sure you have the best chance of approval.

A Countrywide loan modification application must be completed correctly so that it proves to the bank that you are qualified.  You need to know what will make the difference between getting approved or getting denied.  Be careful-once you speak with the lender and say the wrong thing, or fill out your application incorrectly that information is in their system.  You have one shot to get it right.  You don’t want to miss this chance at getting an interest rate reduction to as low as 2% for up to 40 years.

Here is what you need to do -take just an hour of your time to learn about what is required to qualify for the Obama Home Affordable

Learn how to Qualify before you Apply

plan.  This way you will be prepared ahead of time and you will be able to speak with Countrywide confidently-you already know all about what they are looking for-so you have the inside edge!  Why be caught off guard and unknowingly hurt your chances for approval?  This is the second chance you need-make sure you are ready and able to take advantage of this opportunity.

If you are serious about get a Countrywide loan modification, then you need to get informed and prepared.  It is not difficult to learn the basics-you do not have to be an expert or have any experience at all.  We agree with President Obama-you can do it yourself and get the loan workout you need.

Fortunately, you do not have to try to figure this out all by yourself.  You can get the help you need to understand how to apply and qualify for a Countrywide loan modification by ordering and downloading the best selling handbook, 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.

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

Home Edition Loan Modification Kit with Customer Assist

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.

Are you serious about saving your home?  If you need help learning about Countrywide loan modifications, you can find out what you need to know in the best selling handbook, The Complete Loan Modification Guide.  Before you contact the lender to apply for a loan workout, make sure you have the inside track to getting your application approved. 

Countrywide loan modifications are not available to every borrower.  Only homeowners who can meet the approval criteria will be offered a modification to lower their monthly payment.  The secret is to understand what the approval guidelines are before you complete your application-that way you can be sure to prepare your loan modification forms correctly.  You don’t have to feel overwhelmed-you can learn about the guidelines and get step-by-step directions for completing your own forms in The Complete Loan Modification Guide.

Countrywide loan modifications also offer an option to lower your current interest rate to as low as 2% with the new Obama federal program.  Do you know if you qualify for this option?  You will receive detailed information on the requirements for this program as well as help to prepare your application so you can be considered for this loan modification plan with best seller, The Complete Loan Modification Guide, home edition kit.

Even if you have already been turned down or are still awaiting the answer to your Countrywide loan modification, you are entitled to apply again under the new federal plan.  This could be the second chance you need to save your families home.  Make certain that your are prepared and able to submit an acceptable loan modification application so that you have the best chance of getting the loan workout you need.

You can get the help you need to apply and qualify for a Countrywide loan modification by ordering and downloading 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.

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

Home Edition Loan Modification Kit with Customer Assist

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.

A Countrywide loan modification featuring a reduction in the principal balance is available to certain borrowers who meet the lenders requirements for this loan modification option.  Although not every homeowner will be offered principal reduction as part of their loan workout, some homeowners will qualify for this very helpful option.  Here is some information to help determine if you might be eligible:

Eleven states were involved in the predatory lending suit in which Countrywide settled claims worth approximately $8.6 billion dollars to homeowners holding risky loans.  Since the original settlement, two additional states have been awarded settlements to help borrowers as well.  For borrowers in these states, a principal reduction is a viable option that homeowners can apply for.  Here are the eleven states as well as the three additional states included in this special Countrywide loan modification program:

Arizona, California, Connecticut, Florida, Illinois, Iowa, Michigan, North Carolina, Ohio, Texas and Washington-as well as Tennessee, Mississippi and Pennsylvania.  If you live in one of these states and your home loan was originated between January 1, 2004 and December 31, 2007 you may be eligible to participate in the Countrywide loan modification program offered as part of the predatory lending lawsuit.  If you do not, you can still apply for help to lower your payment and avoid foreclosure.

Homeowners who are stuck in Pay option Arm loans where the loan balance actually increases with each minimum payment made are good candidates for a principal reduction.  In areas where the home values have declined significantly, many borrowers find themselves underwater-owing much more on their mortgage than their home is worth.  Most borrowers did not understand the risks involved with these loans, and now find themselves with few options except to apply for a loan modification program.  The Federal government is now encouraging all lenders to consider principal reduction for borrowers who meet certain requirements.

Each Countrywide loan modification is reviewed on a case by case basis, but borrowers can increase their chance for approval by knowing the lender’s guidelines for acceptance and how to complete the application properly so it meets the approval criteria.  Homeowners are encourage to apply for a Countrywide loan modification as the lender has set aside billions of dollars to assist borrowers stay in their home.  Help is available for those who know how to get it, so make sure you take the time to research, learn and prepare as you search for ways to stay in your home.

You can get the help you need to understand how to qualify for a Countrywide  loan modification program 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

Struggling homeowners needing help with a Countrywide loan modification need to know a few important tips to increase their chance of approval.  Bank of America, owner of Countrywide has implemented a massive loan modification outreach program to their distressed borrowers.  As part of the largest predatory lending settlement in U.S. history, Countrywide has agreed to offer assistance to help their clients avoid foreclosure by modifying existing, unaffordable loans into programs that are affordable and sustainable.

This Countrywide loan modification outreach is funded by $8.4 billion dollars and is anticipated to help approximately 400,000 borrowers who are currently delinquent on their loans.  Some of the options available to eligible borrowers will include:  lower interest rates, waiver of late fees and penalties, longer loan terms and principal forbearance. 

If you are interested in applying for a Countrywide loan modification, make sure you know a few important tips to increase your chances of approval.  Not all borrowers will qualify, so here are some important tips to know before you begin the process:

• Speak with the right department-you may be getting calls from the Collection Department-that is not who you need to be speaking with.  Their job is to get as much money out of you as they can.  Hang up and call the Loss Mitigation Department at 1-800-262-4218.  Make sure that you get the first and last name of the person you are speaking with, their direct line or extension and then write that down on the handy Call Log provided in The Complete Loan Modification Guide.
• Request a Countrwide Loan Modification package be sent to you.  This way you can review it and complete it at your convenience to make sure you complete it properly.  As the counselor to go over the general guidelines for approval, most lenders have implemented a debt ratio criteria they use for qualifying the new loan payment.  This figure generally ranges from 35%-41% as acceptable.  You will need this information later when you complete the financial statements.

Compose a Hardship Letter briefly describing the circumstances that caused your delinquency, what steps have been taken to rectify the situation and your intention to make timely payments from now on.  The Complete Loan Modification Guide can help you write a convincing letter by providing you with a Hardship Letter outline and letter template.

• Figure out a new family budget that eliminates any unnecessary expenses, then determine what an affordable monthly mortgage payment would be.  Now make that your “target” payment and your goal when working towards your Countrywide loan modification.
• Important, be sure to verify that the target payment fits within the lenders guidelines for debt ratio acceptance.  The Complete Loan Modification Guide will show you how to figure your own debt ratio with step by step directions to help make sure you qualify.
• Take your time and carefully complete the required financial statements being sure to list all of your income, expenses and assets.  Remember, the lender will verify this information against your credit report and bank statements-any omissions could result in denial of your Countrywide loan modification.  INSIDER TIP:  homeowners who show large, untapped assets or reserves in a bank account may not be deemed in a hardship situation.
• Pay attention-this is the tricky part-you must complete the financial statements so they clearly demonstrate a financial hardship due to the current mortgage payment, but also show that a new lower loan payment will be affordable and sustainable.  The Complete Loan Modification Guide makes this simple to do by providing you with a Current financial statement and a Proposed financial statement, along with detailed directions to help you complete them properly.  INSIDER TIP:  You will also learn about disposable income requirements
• Now, you can put it all together into a professional and acceptable Countrywide loan modification application package for following the easy submission checklist provided in The Complete Loan Modification Guide.

Homeowners who take the time to research, learn and prepare can increase their chance of success with a Countrywide loan modification to get a low affordable mortgage payment.  It’s not brain surgery, but if you know the general guidelines and what the bank is looking for to approve your loan modification application, you will have a much better outcome, whether you decide to work directly with the bank or hire a loan modification company, a knowledgeable homeowner is a powerful homeowner.  Decide to take control of your financial future by learning, preparing and then making wise decisions to save your family home.

You can get the help you need to understand the Countrywide 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

 Bank of America announced its new Countrywide loan modification program as part of a lending abuse settlement.  This loan modification will offer systematic mortgage loan modifications for nearly 400,000 Countrywide customers nationwide.  This new program has earmarked as much as $8.7 billion dollars to assist Countrywide loan modification applicants achieve affordable and sustainable mortgage payments designed to head off defaults and foreclosures.

Many troubled homeowners with a Countrywide home loan originated prior to December 31, 2007 will have the opportunity to convert their sub prime loans or adjustable rate mortgages.  This Countrywide loan modification will include lower, fixed interest rates, principle reduction or a change in the loan term.  The plan also includes a foreclosure freeze for borrowers who are likely to qualify until Countrywide has determined their eligibility.  The plan ranks as one of the largest predatory-lending settlements in history.

Bank of America noted that employees will be trained to carry out this Countrywide loan modification program by December first, and would then begin reaching out to eligible customers.  Officials acknowledged the program is not perfect, but said they have some money for people who already lost their homes and they have money for people who may get foreclosed on later.  And there are some very significant payment reductions for people that will allow them to stay in their homes.

What are the primary features of this Countrywide loan modification program? 

• Loan modifications featuring reduced interest rates, reduction in principle balance
• Suspension of foreclosures on delinquent loans while loan modifications are being reviewed
• Waived late fees
• Payments to delinquent borrowers or homeowners already foreclosed on
• Waived prepayment penalties for borrowers whose loans are modified, paid or refinanced.
• Additional payments to borrowers who can’t afford their monthly payment after loan modifications and who lose their homes to foreclosure in the future

If you are stuck in a sub prime or adjustable rate mortgage loan, then this Countrywide loan modification may be the second chance you need to get back on track.  Get started now to learn about how to qualify for this new program so you will be prepared to work with Countrywide loan modification representatives.  There is alot of information available online about loan modifications, but one of the most complete and up to date sources that will teach you everything you need to know is The Complete Loan Modification Guide.  This is a low cost, easy to follow Guide that you purchase and download right online.  You will be given step by step directions on how to complete your Countrywide loan modification application to assure it will be approved.  The Complete Loan Modification Guide handbooks provides you with all of the required forms and gives you detailed instructions on how to complete them properly.  You also learn how to write a compelling hardship letter, what your legal rights are and invaluable

Home Edition Loan Modification Kit

negotiating tips to ensure you get the very best loan modification.  Don’t miss out on the opportunity for a Countrywide loan modification-get informed and be prepared.

If you would like more information about loan modifications, please visit us at: http://www.myloanmodificationcenter.com