There is a lot of confusion about just who qualifies for a loan workout and how to get a home loan modification.  Since each lender, bank and servicer handles a homeowners request for assistance a little differently, it is difficult to really know exactly how the best way to apply and qualify will be.  However, with President Obama’s federal home rescue plan, the playing field has become just a bit more level.  At least now lenders are required to adhere to certain guidelines put in place by the Treasury Department.

The government has allocated $75 billion of stimulus funds to go towards a very aggressive loan modification program.  The idea is to get as many loans modified as possible so that the tide of foreclosures can be stopped and the housing market given a chance to recover.  Since many banks have been hesitant to really reach out to struggling borrowers, the feds have stepped in and agreed to actually pay the banks for each  loan workout they complete using the government program.

Federal Plan

This new program is called Home Affordable Modification, and even if you might have been turned down before or you are in the process, you can request consideration under this government program.  During the review process, lenders have agreed to halt any foreclosure processes until a determination is made on whether a borrower qualifies.

The best part of this government program is that you don’t have to guess about how to get a loan modification anymore.  The guidelines for qualifying are the same for everyone.  The methods of modifying the loans are the same for everyone.  The idea is to offer a streamlined, standardized program that every lender will use and reach as many homeowners as possible.

So, since the guidelines are standard, it just makes sense for any interested homeowner to spend a little time learning just what those guidelines are.  This is critical if you wish to increase your chances of approval-why just slap something together when you can fine tune your application so that you know it meets the approval criteria?  You can learn the basic 4 step formula your bank will use in the #1 resource for homeowners, The Complete Loan Modification Guide.  Apply this formula to your own application, and then make any necessary adjustments to your paperwork before your lender reviews it.

Don’t take chances-learn how to get 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. 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.

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