Homeowners across the country are struggling with unaffordable mortgages and declining home values.  How can you stay in your home?  How does a 2% interest sound? Pretty good, huh? A mortgage rate modification is one of the options offered by the federal loan workout plan now being offered to qualified homeowners. If you can meet the standard guidelines for acceptance, you could receive a lower interest rate, extended loan term and even principal forgiveness or deferment. If you are struggling to keep your home, now is the time to learn more about the options available for you.

It’s been a pretty grim couple of years.  Millions of borrowers have been caught in the web of increasing adjustable rate mortgages and declining home values. This lethal combination has spelled disaster for homeowners resulting in record high foreclosure rates. One solution offered by the feds and lenders is a mortgage rate modification-this means that your current home loan is modified to a lower rate-often as low as 2%. It’s true-thousands of homeowners have already been helped with the Treasury Department’s HAMP loan workout option. Learn what it takes to apply and qualify so you can get back on track.

So, just how do you get started to apply for help from the bailout billions?  A mortgage rate modification under the HAMP guidelines involves preparing and submitting a hardship letter and affidavit, a financial statement and proof of your income. All of this paperwork is then reviewed to determine if you meet the approval guidelines. These are standard for everyone-you can actually learn exactly what these approval conditions are and then fine tune your own application so that it has a good chance of approval.

Good news for homeowners-lenders are cooperating with the feds.  Lenders who are participating in HAMP have agreed to adhere to the standard methods of mortgage rate modification set forth by the federal government. This has greatly streamlined the approval process and provided qualified homeowners with a very aggressive and affordable loan workout program. The goal is to provide a mortgage payment that equals just 31% of your household gross monthly income. That figure also includes principal, interest, property taxes, homeowners insurance and any homeowner dues.

Not everyone will qualify but who can apply for this mortgage rate modification plan? President Obama has said that every homeowner is encouraged to contact their lender to ask about home retention options. But, before you disclose your financial information to your lender make sure that you have taken the time to work on your budget beforehand. You want to be certain that your application meets the guidelines for approval and you don’t miss your chance for help. Remember, the information you provide your bank will determine whether you qualify for HAMP or not. You can save hours of confusion and frustration by using a software program designed specifically for homeowners that mimics the guidelines. Simply input your own specific information and then it calculates it all for you.

The clock is ticking and many borrowers are sitting on a time bomb waiting for foreclosure.  Why wait to find out if you qualify for a mortgage rate modification? Resolve to get started today-these programs are only available for a limited time and have limited federal funding. Hundreds of thousands of homeowners have already been given a loan workout-you can too!  Don’t worry-help is available for homeowner with the #1 resource The Complete Loan Modification Guide kit.  Use the easy software program to do all of the calculations for you-don’t take chances with your application.

Get the help you need to prepare your own accurate and acceptable loan modification application. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that takes the guess work out of preparing your financial statement, hardship letter and all of the required forms your lender needs. You get an easy to use software program-Loan Mod Quick App-as well as an easy to understand handbook with step by step directions. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! It couldn’t be easier-end the frustration-Visit myloanmodificationcenter.com and order today.