Getting behind on your bills and stressing out about how to get back on track?  A loan workout to lower your mortgage could be the answer.  What does it take to apply and qualify for help from your lender?  The very first criteria for a loan modification is a hardship situation. This usually means that due to circumstances out of your control you have lost income or have increased expenses, perhaps due to medical, divorce, natural disaster, etc. The bank wants to be certain that you are indeed a deserving candidate for a loan workout. Just because your neighbor got a 2.5% loan modification, is not a good enough reason for you to get one!

In addition to the loan modification hardship letter, the feds are so serious about only helping deserving homeowners and weeding out those who want to jump on the modification bandwagon, they actually have you sign an Affidavit. This is a standard form that you complete and sign under penalty of perjury. A section of the affidavit asks you why you are facing a financial hardship-you check off all applicable boxes. Another section has you sign stating that you have not intentionally missed payments in order to qualify for a loan workout.

Your lender wants to know what is happening in your life-don’t be afraid to contact them yourself.  They want to hear from you and you must also write a brief description of your actual situation. This is your chance to tell the bank what has transpired in your life to put you in your current circumstances. You want to write a compelling story-one that is sympathetic and gains your lenders cooperation-but it must also be concise and to the point. No need to write a novel-they won’t read it anyway if it’s too long!

Insider TIP:  A loan modification hardship letter and affidavit is the basis for granting you a loan workout. If you can prove to the bank with some type of documentation-say copies of medical bills or military deployment orders-that you ability to pay the mortgage has been affected, then at least they will be willing to review your application. It’s really the whole picture that your bank wants to see-your current financial circumstances, your ability to pay and maintain the new modified payment, and how your budget fits into the program guidelines.

You can follow step by step directions to write a convincing hardship letter, complete your financial statements and include all the necessary documents by using the #1 homeowner resource guide, The Complete Loan Modification Guide. Now is not the time to take chances.  This is a very serious process, and since your home could be on the line, make sure you do everything you can to be successful.

You can 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. 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