The Obama loan modification program offers hope and help to almost 5 million homeowners stuck with high monthly payments.  But did you know it also pays you to participate?  That’s right, homeowners who meet certain requirements will be paid up to $5000 as an incentive to keep the modified mortgage current.  Here is how it works.

Part of the $75 billion dollars allocated for the Obama loan modification plan has been set aside in a Pay for Success fund that will reward homeowners who have qualified for the new lower monthly mortgage payment, and kept those payments current.  Here is what you must do to qualify for the payout:

1. Meet certain qualifications to qualify for the loan workout program
2. Keep the new modified payments current for at least 12 months
3. A bonus of $1000 will be paid for each year without delinquencies,up to 5 years total

Pay a Company?

The total possible pay out of $5000 will be credited directly towards your principal balance. This incentive is designed to encourage borrowers to stay in their homes making the payments, and also to help recapture some lost equity.  Homeowners who can qualify for the Obama loan modification plan will have their monthly mortgage payments reduced to a target payment that equals 31% of their gross monthly income.  This new lower payment is designed to be affordable and sustainable for the long term and should help millions of qualified borrowers avoid foreclosure.

How can you make sure you will qualify for the Obama loan modification program?  Well, the first step is to know how to meet the debt ratio requirement.  Do you know how to figure your expenses and calculate your debt ratio?  It’s not hard to learn, but taking the time to do this could mean the difference between approval and denial.  You don’t have to pay thousands of dollars to anyone to apply for this loan workout-the plan is free-and you can do it yourself with just a little bit of preparation.

It’s not rocket science, just simple math-so make sure you do everything you can to increase your chances of saving your families home.  There is a standard 4 step formula that is used to determine who qualifies for the federal loan modification plan.  You can learn this very same formula and use it to prepare your own accurate and acceptable proposal for your lender.  Why take chances when the answers are available for you to use?

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. 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. 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