Homeowners who are confused about how to apply and also qualify for a  loan modification program can use the loan mod calculator to help them complete their application.  This loan workout program is designed to offer struggling borrowers a new lower affordable mortgage payment.  However the guidelines for acceptance are strict, and in order to receive help you must prove that you fit into the program criteria.

The Loan Mod calculator is very easy to use, and the standard approval triggers are calculated automatically for you by simply inputting your own specific financial information:

  1. Gross Monthly Income-Debt Ratio
  2. Monthly household expenses-Cash Flow
  3. Current Bank Balances-Asset Ratio

    Sample Budget-Automatically!

  4. Current mortgage balance-Loan to Value Ratio
  5. Current Mortgage payment-Financial Hardship
  6. Monthly property taxes, insurance and HOA dues

Once this information is put into the loan mod calculator, the results are displayed immediately-showing you if the approval guidelines for being met.  You will be able to see exactly where you may need to adjust your monthly budget in order to pass all of the approval triggers.  Your income may be too high or too low, but unless you use the calculator you would not know this ahead of time and could be turned down by your lender.  The goal is to pass all of the guidelines-and your final loan modification application must prove in black and white that you are an eligible candidate .  The information provided by the calculator will help you to adjust your figures before your lender reviews them-and this will greatly increase the chances for acceptance and approval.

Know the Qualifications

Do you know if your monthly income,  monthly expenses and bank balances are going to fit into the federal loan modification program?  This is where most borrowers stumble and the number one reason for denial – the calculator will automatically calculate these important triggers for you and show you immediately where and how to fine tune your figures in order to fit right into the program guidelines.  Simply guessing that your monthly budget will qualify is not the best way to apply, getting approved for a loan mod is not a matter of luck, it is just math.  The loan mod calculator figures all the math for you automatically – saving you time and helping you avoid mistakes.

Use the #1 resource for homeowners that includes the calculator, The Complete Loan Modification Guide Kit and loan mod

Download immediately!

calculator provides everything you need to prepare your application correctly.  Step by step directions, required forms and the HAMP calculator provides a sample monthly budget that you can follow to apply correctly.  Visit MyLoanModificationCenter.com for more information.

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