The last thing a struggling homeowner needs is to try to scrape together $2000-$5000 to pay a company or attorney to complete their loan modification application forms.  It just doesn’t make sense-not when you can use a proven system and follow simple step by step directions and do it all yourself.  The statistics back this statement up-a much higher percentage of loan workouts have been completed when the borrower works directly with their lender than those that were handled by a third party.

The fact is that your lender will respond much more quickly to your request for a low cost loan modification than when they are contacted by a third party.  The banks know that many of these companies have no experience and are simply charging desperate homeowners large, unnecessary fees.  They want to talk to you-the homeowner.  So here is the best way to make sure you have a good chance of getting your loan workout approved.

Do not contact your lender and give them any of your financial information until you have a good, general knowledge of what it is they need to see on your application to approve you.  This means that you have taken the time to learn the 4 step formula the banks all use under the Obama Home Affordable Plan, and you have used that very same formula to prepare your own application.

This is critical to success-the proven system for fast approval involves preparing your budget, financial statement ahead of time-then making the necessary adjustments so that you pass of the the federal guidelines.  You need to do this before your lender reviews your application-that way your file will not be delayed and you will have the best chance for a fast approval.

Be successful with a low cost loan modification by learning the 4 step formula and follow step by step directions so that you know you have pre-qualified for the Home Affordable Modification Plan.  Remember, these are the very same steps that your lender will use-so it just makes sense to prepare your forms so that they fit into the formula.

It’s not hard-get the 4 step formula directions and 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.

Home Edition Loan Modification Kit with Customer Assist

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

The Federal loan modification plan passed into law offers a standardized and aggressive loan workout program for struggling homeowners facing a financial hardship.  If you are not able to afford your mortgage payment, this $75 billion program may be the answer to get a lower monthly payment.  What do you need to do to apply and qualify for this plan? 

You must be able to meet the basic eligibility requirements in order to apply for President Obama’s federal loan modification plan.  If you can answer yes to these questions then you are a good candidate for help:

1. Your loan was originated prior to January 1, 2009
2. Loan amount is less than $729,750.00
3. You live in the home as your primary residence
4. Your current mortgage payment equals more than 31% of your gross monthly income

Banks and servicers must be approved to offer this plan to homeowners, and they must agree to offer the standardized terms to eligible borrowers.  Once approved, lenders will be able to participate in monetary incentives paid by the Treasury Department for modified loans.  This pay for success feature will hopefully encourage banks to finally offer the help needed by millions of homeowners.  Here is a list of lenders and servicers currently approved to offer this program:

1. Aurora Loan Services LLC
2. Bank of America, NA
3. Carrington Mortgage Services, LLC
4. Chase Financial, LLC
5. CitiMortgage, Inc
6. Countrywide HOme Loans Servicing LP
7. GMAC Mortgage
8. Green Tree Servicing LLC
9. Home Loan Services, Inc
10. Nationstar Mortgage, LLC
11. Ocwen Financial Corporation, INC
12. Residential Credit Solutions
13. Saxon Mortgage Services
14. Select Portfolio Servicing
15. Wells Fargo Bank, NA
16. Wilshire Credit Corporation

Lender and servicers are being added as participants sign their formal agreements.  If your bank is not on the list, call them and ask about Obama’s Federal loan modification plan.  Most lenders will accept applications while waiting for their final approval.  This plan offers interest rates as low as 2% for 40 years, resulting in a new low mortgage payment so homeowners can avoid foreclosure and stay in their home.

APPLICATION TIP:  Make sure you understand what your lender will be looking for on your loan modification forms to approve you-a decision will be made based on the information you provide so make sure you know how to complete your application correctly.  This is a one-time chance to get the lower payment you need, make sure you learn and prepare ahead of time to have the best chance of getting approved.  Homeowners who can meet the approval guidelines will get a loan modification-but those who complete their paperwork incorrectly or cannot prove they qualify will be denied the help they need.

You can get the help you need to apply and qualify for the federal loan modification plan 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.

Home Edition Loan Modification Kit with Customer Assist

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

Stuck with an unaffordable loan but not sure how to apply and qualify for a loan modification?  It may seem confusing and overwhelming, but here are the Top 10 Tips that you can use to make sure you get the help you need and avoid any mistakes.

Loan Modification Tip #1:  This is basic but very important, you must spend 2 hours of your time to learn the basics of the loan modification process.  Saving your home is worth this small investment of your time-you will be able to move thru the application paperwork with confidence and understand what to expect from your lender.  The best selling handbook for homeowners, The Complete Loan Modification Guide kit is an easy to understand resource to get you started.

Loan Modification Tip #2:  Know which loan modification programs fit your needs and which ones you could qualify for.  Each lender has their own guidelines, so depending on your circumstances, you may fit into one program better than another.  Once you have a general idea of which program you qualify for, you can tailor your paperwork to meet that program.  Learn about different loan modification options in Chapter 2B of The Complete Loan Modification Guide kit.

Loan Modification tip #3:  Sit down with the family and work out a realistic budget that eliminates any unnecessary expenses.  You need to show the bank that your house payment is your priority.  Remember, you are asking them to revise the terms of your loan that you originally agreed to-so they need to know that you are doing everything you can to keep your house.

Loan Modification Tip #4:  Gather all of the required documents so that you have them handy and ready for review.  You will need to fill out some forms that require information on your monthly debts and income.  Having all of this paperwork gathered ahead of time will save you frustration and wasted time.  You can follow a simple Document Checklist provided in Chapter 10 of The Complete Loan Modification Guide kit.

Loan Modification Tip #5:  Now, that you have all of your information in front of you, begin working on your financial statement.  Here is where you show your lender that you cannot afford the current payment, but that you will pay able to pay the new, lower mortgage payment.  This is the #1 secret to success-learn how to prepare you financial statement correctly in Chapter 4c of The Complete Loan Modification Guide.

Loan Modification Tip #5:  You must provide your lender with a Hardship Letter.  This is a brief explanation of your situation, why you cannot afford the current payment and how you will adjust your budget so that you can afford to pay and maintain the new modified payment.  This is your chance to gain your lenders understanding and empathy.  Explain that circumstances out of your control have caused this problem, but you are a committed homeowner willing to do whatever it takes to save your home.  There are 3 critical elements to an effective hardship letter, you can follow an example provided to you in The Complete Loan Modification Guide kit.

Loan Modification Tip #6:  Check and double check all of your paperwork to make sure there are no errors, it is legible and complete.  This is really important because lenders have thousands of applications to review.  Those that are missing items, are not done correctly or they cannot read clearly will be set aside and not worked on.  You need an answer fast-a complete, correct and professional looking loan modification application will get the results you need faster.

Loan Modification Tip #7;  Now that you have fine tuned your application, know what you asking for and have all of your documents in order, contact your bank.  Only speak with the loss mitigation department-those bank employees who are calling you demanding payment are not who you need to speak with-those are the collection dept. employees-they will not help you.  There is a list of lender phone numbers provided in The Complete Loan Modification Guide that will get you to the right department.

Loan Modification Tip #8:  Fax, email, or mail or complete loan modification package to your lender, retaining proof of that you submitted it.  Use the Contact Log in Chapter 10 of The Complete Loan Modification Guide to write down the date, time and method of submission.  Follow up in a few days to confirm that your application was received.  Never wait for the bank to contact you-use this log to note every phone call, fax or writter correspondence.  You must be very persistent if you hope to be successful.  Don’t take it personally and don’t take no for an answer.

Loan Modification Tip #9:  Do not spend the money you would normally use for your house payment.  The temptation is great to use that money for other expenses, but that could be a mistake.  If you have not made a payment for many months your bank may expect you to have some money to pay a good faith deposit to start the loan modification.  Try to put away some money so that you will be able to pay this start up fee if required.

Loan Modification Tip # 10:  When you receive the loan workout proposal from your lender, read it carefully.  Make sure you understand the new terms and that they are affordable for you now and in the future.  A short term solution is not the answer.  The new federal programs are meant to give you an affordable and sustainable payment-don’t settle for anything less.

Don’t worry-you don’t have to figure this out on your own-nor do you have to pay thousands to some company.  We agree with President Obama-do it yourself!  You can get the help you need to apply and qualify for a loan modification with your lender 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.

Home Edition Loan Modification Kit with Customer Assist

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

Do you qualify for a mortgage loan modification under the new Obama federal program?  Most lenders are getting ready to accept applications for this plan, and even if you have already been declined for a loan workout or are still waiting for your answer, you are entitled to be considered for this very aggressive federally subsidized program.  This is a limited time program, so make sure you know how to do a mortgage loan modification using Obama’s federal program-here are some important tips.

The program features a standardized method of reducing a homeowners monthly mortgage payment so that it will be affordable and sustainable for the long term.  All qualified borrowers receive the same basic options-there is no negotiating involved-either you qualify or you don’t.  You can however make certain that you prepare your loan modification forms so that you have a good chance of meeting those approval guidelines.  It’s simple-when your file is reviewed you want to make it easy for your lender to clearly see that you meet the approval criteria.  How can you do this easily and simply?

The first step to approval is to learn what the approval criteria for the Obama mortgage loan modification plan is-think about it-it’s pretty hard to qualify for something you know nothing about, right?  Why take a shot in the dark when you can get the basic information you need to know in best selling handbook, The Complete Loan Modification Guide.  To help you get started, here is some general information-you can learn more in the Guide:

To qualify for Obama’s federal mortgage loan modification plan you must:

1. Live in the home as your primary residence
2. loan must have been originated prior to January 1, 2009
3. Loan amount must be less than $729,750
4. Only applicable to first trust deeds-second loans not allowed (can be negotiated separately)
5. Your current house payment must equal greater than 31% of your gross (before taxes) monthly income (payment includes property taxes, insurance and homeowners dues)

Do you meet this basic criteria?  If so, then you need to learn more about how to prepare your mortgage loan modification forms correctly so that you have a good shot at approval.  Most lenders are gearing up to accept applications now, and the demand will be extremely high, so don’t wait to start completing your own paperwork.  The sooner you get in the system the sooner you will get the lower payment you need to stay in your home.

The internet’s best selling handbook, The Complete Loan Modification Guide, will provide you with all the detailed information and step by step directions you need to pre-qualify yourself, then prepare your own loan modification forms so that they have the best chance of approval.  You can learn the basics and be successful with just a little bit of your time and effort.  The treasury department has issued a warning against paying anyone a large, upfront fee to apply for this program.  Make sure you are armed with the knowledge you need to apply and qualify for the Obama federal mortgage loan modification plan.  This is the second chance you need to get a fresh start-make sure you do make a costly mistake!

You can get the help you need to apply for the Obama mortgage loan modification program 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.

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.

Home Edition Loan Modification Kit with Customer Assist

Go to:  http://store.payloadz.com/go?id=242673

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

Frustrated and scared trying to figure out how to get the help you need to qualify for the Obama loan modification plan?  This is the opportunity for millions of homeowners to get the lower payment they need to avoid foreclosure-make sure you know how to qualify so you don’t miss out.  The new plan has strict guidelines, but don’t worry-you don’t have to try to figure this out all by yourself.  You can get the help you need to apply and qualify without paying thousands of dollars to a company-you can use the simple to follow, step by step directions you get in The Complete Loan Modification Guide.

This home edition loan modification kit will provide you with detailed information about what is required to apply for and qualify for the Obama loan modification plan.  For only $87 you will receive what you would normally pay thousands of dollars for-it is worth every penny-hundreds of hours have been spent compiling the most complete and up to date information that you can use to increase your chances of success.  You don’t have to “hope” for the result you want when you apply for your loan modification, you can use The Complete Loan Modification Guide to make sure your application has the best chance of approval.

The Obama loan modification plan includes an important debt ratio qualification requirement-do you know how to calculate your own debt ratio to pre-qualify?  If not, you need to learn how using the easy to understand directions included in The Complete Loan Modification Guide.   You can determine ahead of time how to meet this debt ratio requirement, then complete the provided loan modification forms correctly.  This is critical-if you do not understand how to prepare your application, you could be denied an interest rate reduction as low as 2%-and miss out on getting the low mortgage payment you need.

The Obama loan modification plan is a second chance for many borrowers who are facing foreclosure or who might have already been turned down for a loan workout with their lender.  That is why it makes sense to arm yourself with the knowledge you need to get approved before you contact your bank.  This opportunity is too important to leave to chance, and for only $87 you can be confident that you are doing everything you can to save your home-order and download The Complete Loan Modification Guide today.

Remember, the Obama loan modification plan is free-you do not have to pay thousands of dollars to anyone to apply-however a little bit of knowledge and preparation can make the difference in getting the help you need or not.  If you were taking a test at school you would study beforehand, right?  Well, this is no different-take the time learn and prepare to increase your chances for success.

You can get the help you need to understand and apply for the Obama loan modification plan 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

President Obama has allocated $75 billion dollars for a loan modification program designed to help borrowers obtain a low, affordable mortgage payment.  The program is called “Making Home Affordable Modification” and features financial incentives for lenders, servicers and borrowers who participate.  Designed to reach 5 million at-risk homeowners, this new loan modification program will use the following options to reach a target payment equal to 31% of the homeowners gross monthly income:

1. Reduce interest rate to as low as 2%
2. Increase loan term to 40 years
3. Forbear part of the loan balance-to be paid later when home is refinanced or sold
4. Forgive part of the loan balance-not mandatory and at each lenders discretion

Obama’s new loan modification program is aimed at qualified homeowners who meet certain approval requirements.  Borrowers will have to complete loan modification application forms and prove that they meet these requirements:

1. Must live in the home as your principal residence
2. Loan amounts of $729,750 or less (higher for 2-4 unit loans)
3. Residential properties of 1-4 units
4. Have a current mortgage payment that is greater than 31% of your gross monthly income (including taxes, insurance and HOA if applicable)
5. Loan must have been originated prior to January 1, 2009
6. You may not be in bankruptcy
7. Homeowners can be delinquent or current on their home loan to qualify

Obama’s loan modification plan calls for a 3 month trial modification period at the new interest rate and payment.  If you make those payments on time, your lender will convert it to a permanent loan modification agreement.  Homeowners must agree to have their taxes and insurance escrowed (included in the monthly payment), even if the previous loan was not escrowed.

The Making Home Affordable Modification will then continue for 5 years at the low interest rate and payment.  During this time, homeowners will receive a Pay for Success payment in the form of $1000 per year that is applied directly to the loan balance, as long as they do not fall behind on the loan payments.  Beginning in year 6, the rate can increase 1% per year, until it reaches the cap rate indicated in the original agreement-to a maximum of market rate.

Homeowners who wish to apply for this new loan modification plan should take the time to learn how to compute their debt ratio, and determine their new target payment to verify if they are a good candidate.  Lenders are not required to participate in the loan modification program, but with the generous financial incentives offered, most are expected to come on board.  You can find out if you qualify and if your lender is one of the participating banks with the information provided for you in The Complete Loan Modification Guide.  Homeowners can get a jump start on the loan modification paperwork, learn how to pre-qualify themselves and increase their chances for approval by taking the time to do a little homework before contacting your bank.  It’s simple-when you prepare ahead of time, you can get the results you need much faster and with a greater chance of success.

The Treasury Department has warned homeowners against paying anyone to apply for the new loan modification program.  They have stated the program is free to homeowners, and strongly advised borrowers to avoid companies or individuals who ask for a large fee to assist them.

You can get the help you need to understand how to qualify and apply for the new 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

President Barack Obama has launched a $75 billion dollar new loan modification program that is aimed at stopping the flood of foreclosures across the nation.  The 3 part plan is called The Homeowner Affordability and Stability Plan.  The new loan modification program hopes to help approximately 9 million homeowners stay in their homes.  There are requirements that borrowers must meet in order to receive help, will you qualify for a loan modification under this new program?  Read more…

Part one of the plan provides for a refinancing plan for borrowers who are current on their loans, but face financial hardship due to high interest rates.  One provision allows homeowners who owe more than their home is worth to refinance up to 105% of the current market value.

Part two is an aggressive new loan modification program that targets 4 million homeowners who are at risk of losing their homes.  This new loan modification program is designed to lower a borrowers house payments so that they equal 31% of their gross monthly income.  Lenders and servicers are being encouraged to participate with Federal monetary incentives. 

Part three is the assurance of $200 billion in Federal backing to Fannie Mae and Freddie Mac to help increase the credit available to borrowers for new loans.

This new loan modification program is voluntary, and each lender will still have to make their own determination for the eligibility of their borrowers.  Homeowners must be able to provide the loan modification forms, properly completed to demonstrate their ability to repay the new modified loan.  Not everyone will qualify and only those who can prepare an accurate and complete loan modification application will have the best chance of approval.

The Federal government noted that this new loan modification program is free, and cautioned borrowers against paying anyone a large fee to represent them.  Interested homeowners need to start gathering the required information so they can contact their lender on March 4, 2009 about applying for The Homeowner Affordability and Stability Plan.

Do you know what forms and paperwork are required to apply for this program?  You can learn more about how to qualify for this new loan modification program, discover how to compute your debt ratio so you meet the guidelines for approval and be guided step by step through the loan modification approval process with the help of The Complete Loan Modification Guide.  This easy to understand home edition handbook is the most up to date and comprehensive source of information and help for borrowers who need to get a loan modification.  You do not have to pay thousands of dollars to qualify for this new loan modification program, and the Federal government has announced this program is free and is encouraging borrowers to prepare their own applications.

You can get the help you need to understand and apply for your modification 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

Ready to begin your loan modification application in hopes of getting a loan workout so you can afford to stay in your home?  How confident are you that you have completed your application paperwork properly so that your lender will approve your loan modification proposal?  This is too important to leave to chance-make sure you know th 4 reasons you could be turned down so you can avoid making a big mistake!

Loan  Modification Application Denial Reason #1:  Not being able to demonstrate convincingly that you are facing a financial hardship through no fault of your own.  There are certain situations that your lender will consider as acceptable to be a good candidate for a loan modification-do you know what they are and if you fit into one of these categories?  Learn about acceptable hardship situations and how to write your own hardship letter with the hardship letter outline and letter template provided for you in The Complete Loan Modification Guide. 

Loan Modification Application Denial Reason #2:  You have not proved in black and white that you will be able to pay and maintain the new mortgage payment and will not be at risk for default.  The #1 reason that lenders decline a loan modification proposal is that they feel you will be at risk for re-default.  If you can show them that you can afford to pay the new payment now and in the future-your chances for approval will be significantly better.  How can you prove this to your bank?  It’s simple when you use the formula and forms provided in The Complete Loan Modification Guide.

Loan Modification Application Denial Reason #3:  Your proposal does not meet your lenders guidelines for approval-each lender has it’s own criteria that must be met.  Your new payment must fit within these guidelines-do you know what your lender’s guidelines are?  You probably don’t have much of a chance of guessing at what is required!  Make sure you learn and prepare ahead of time so your loan modification application meets your lenders guidelines for approval.  You can learn about approval guidelines and criteria for acceptance in The Complete Loan Modification Guide.

Loan Modification Application Denial Reason #4:  Not submitting a complete and accurate loan modification application.  When you omit information, do not send in all the required documents or complete your loan modification forms wrong your application will be delayed or even outright denied!  Make sure you know exactly what your lender needs to see in order to approve your proposal.  You can follow a simple Document Checklist and Stacking Order provided to you in The Complete Loan Modification Guide to make sure you have prepared an acceptable package.

Make sure you don’t give your lender a reason to turn down your loan modification application.  This is your chance to save your family’s home-take the time to understand and prepare-You can get the help you need to prepare your loan modification application 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

Another major lender has increased its loan modification help to struggling borrowers-JPMorgan Chase & Co announced an expanded program which could help as many as 400,000 homeowners modify their current home loans.  $70 billion in unaffordable loans are slated to benefit from this new program.  JPMorgan announced it will halt placing any more loans in foreclosure while it implements the new program over the next 90 days.

This new Chase loan modification help is expected to transpire over the next 2 years, but could take longer and cost more than current estimates.  JPMorgan Chase has stated they will implement the program to help as many people who want to stay in their homes as possible by proactively reaching out to homeowners facing financial hardship.  The Federal government is urging lenders to keep people in their homes.

The Chase loan modification help will come in the form of lower interest rates, extending loan terms and new product offerings.  Each borrowers situation will be reviewed and an appropriate loan workout plan recommended.  JP Morgan will offer loan modification help to Washington Mutual and EMC customers, two lenders which the banking giant now owns.  When JP Morgan took over Washington Mutual and EMC, it acquired portfolios which included pay option adjustable rate mortgages.  These risky loans have a high default rate, and Chase loan modifications on those loans would eliminate the option to pay less than the interest due.

Approximately one in five homeowners with a mortgage currently owes more than the home is worth, making refinancing or selling difficult.  The FDIC is currently working on a loan guarantee program to further induce lenders to offer far ranging and meaningful loan modification help to distressed homeowners.  The new plan would be the most aggressive effort yet to control the damage to the U S housing market.  Over half a million homeowners are in foreclosure, and with more loans set to adjust to higher payments, the next round of defaults is around the corner.

JP Morgan will offer Chase loan modification help to clients with 24 regional counseling centers, the hiring of 300 new loan counselors and contacting borrowers with loan workout options.  Each loan will be reviewed to find a loan workout solution prior to moving into foreclosure.  One of the biggest hurdles has been actually getting in touch with delinquent borrowers.  Many homeowners are hunkering down, unsure of what to do and what their options are.  Borrowers are encouraged to learn about the various loan modification programs to find out if they qualify for help.

An excellent source of up to date, unbiased information is The Complete Loan Modification Guide.  This is a low cost, easy to ready handbook that takes you step by step through the loan modification process.  The Complete Loan Modification Guide provides you with everything you need to prepare a professional and acceptable loan modification application.  You learn how to qualify for loan modification help, get assistance completing the forms properly, learn your legal rights, and much more.  Don’t miss out on the billions of dollars set aside to help struggling homeowners-get the help you need.  Order and download The Complete Loan Modification Guide today and get started on the path to financial security again.

For more informaton about loan modification help, visit us at:  http://www.myloanmodificationcenter.com