Before you contact the bank, make sure you understand just what it takes to get approved for a Countrywide loan modification.  You can improve your chances for success if you learn a few INSIDER TIPS that the professionals know and use.  Not every homeowners qualifies for a Countrywide loan modification,so it is very important to learn as much as you can and have a good general understanding the loan modification process before sending in your application.  The bank is approved by the Treasury Department to offer the Obama federal loan workout plan, called Home Affordable Modification.  This is a standard program that has standard guidelines for approval-learn the basics of this plan and you are on your way to a successful application.

Here are some Insider Tips that can help you get a Countrywide Loan Modification:

1.  You must demonstrate an acceptable financial hardship to qualify for a Countrywide loan workout.  You do this by writing a hardship letter that explains to the lender the circumstances that caused the delinquency, what steps have been take to remedy the situation, and convince them of your desire to keep your home.  Make sure you cover the 3 critical elements in an effective letter-use the helpful Hardship Outline found in Chaper 10 of The Complete Loan Modification Guide.  INSIDER TIP:  Back up your story with proof of your hardship, for example medical bills, letter from employer, divorce paperwork.

Work on your budget now

2.  Work out a new family budget eliminating any unnecessary expenses so you can arrive at a new, modified mortgage payment is is affordable and sustainable.  This is the new loan payment that you want to shoot for when negotiating with Countrywide.  This payment is called your Target Payment.  Under Obama’s federal plan, this target payment equals 31% of your household gross monthly income.  INSIDER TIP:  Make sure that this new payment meets the banks guidelines for acceptable debt ratio-The Complete Loan Modification Guide will help you to calculate the ideal monthly payment so that it will meet the guidelines and increase your chance for approval.

3.  Make sure that you complete the required financial statements accurately so the lender has a good picture of your current financial situation.  You need to prove to Countrywide that while you cannot afford the current mortgage payment, you will be able to pay and maintain the new modified payment.  This can be tricky-but The Complete Loan Modification Guide makes this simple to do by providing you with a Current Financial Statement and and Proposed Financial Statement along with detailed directions for completing them properly.  INSIDER TIP:  Be sure to show that you have some disposable income left over after all your bills are paid-you can’t show too much or too little-learn more about this in The Complete Loan Modification Guide.

So before you send in your Countrywide loan modification application, be sure that you know all of the professional insider tips that will help you get approved.  Once you have a general understanding of what the lender is looking for to grant a loan modification, you will be able to complete your paperwork properly and have a good chance at getting the help you need and deserve.  Time is not on your side when you are facing foreclosure, so get prepared and get going to save your home.

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.

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