Worried about whether you will qualify for a loan modification?  While hundreds of thousands of borrowers have already received lower mortgage payments with Obama’s stimulus plan, not everyone will qualify for a loan modification to lower their payment-so how can you be sure to get your application to the front of the line and have the best chance for approval? Here are 3 Important Qualifications for approval you should know before you apply.

Loan Modification Qualification #1: You must be able to demonstrate to your lender that you have suffered a financial hardship that has made your current mortgage payment unaffordable. There are certain circumstances that lenders will consider as an acceptable hardship situation. Divorce/separation, military service, death of a family member, job loss, reduction in income, medical expenses, illness, incarceration and job transfer are all considered to be eligible for consideration. Loss of equity alone does not.  There are 3 critical elements that need to be covered in an effective hardship letter-you can follow the easy Outline provided in Chapter 10 of the #1 resource for homeowners, The Complete Loan Modification Guide.

Loan Modification Qualification #2: Can you prove to your lender that if given the new lower modified mortgage payment you will be able to afford to maintain it now and in the future? Lenders want to know that you will not be at risk of defaulting again. How can you prove this to them? Make it simple by providing the required financial statements-one Current and one Proposed-so that they will demonstrate your ability to pay the new payment and help convince your lender to grant an approval for your proposed new lower payment.  These two important forms are included when you order The Complete Loan Modification Guide-make sure you practice and make adjustments before you call your lender.

Loan Modification Qualification #3: Be able to submit an accurate, acceptable and complete application to your bank for review and consideration. Your lender will make a decision based in large part on the information you provide to them. Submitting an incomplete and poorly prepared application can result in a denial of the help you need. Be sure you prepare the paperwork properly and then submit everything your lender will need all together in a professional and acceptable loan modification package.  Follow a simple Document Checklist so you don’t leave anything out-provided in Chapter 10 of the best selling handbook for homeowners, The Complete Loan Modification Guide.

Learn how!

These are extraordinary times and more homeowners are faced with losing their homes than at any other time in our nations history. Borrowers who need help cannot wait to be rescued-help is available but you must know how to get it and be prepared to fight for your home. Start now by learning and preparing to submit your program application to your lender to get the help you need and deserve. Billions of dollars in your tax dollars have been allocated for loan modification programs to help stop foreclosures. Don’t miss out on your chance to save your family’s home.

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.

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