A very aggressive program is being offered to qualified homeowners and is funded by Obama’s stimulus plan.  Four to five million homeowners are targeted for this loan modification effort, and if you are losing sleep and stressing out because you can no longer afford your mortgage, now is the time to learn the steps to apply for assistance.

You must be able to meet the basic eligibility requirements to be able to apply for this Stimulus loan modification plan.  The first step is to make sure you fit into this category:

1. Live in the home as your principal residence
2. Loan was taken out before January 1, 2009 and is less than $729,750
3. Current payment equals more than 31% of your gross monthly income-including your property taxes, homeowners insurance and any homeowners dues
4. Facing a financial harship situation

Once you pass the preliminary questions, your next step will be to complete an application and submit it for review.  This will include a financial statement or budget that details your monthly income and expenses, as well as a letter that explains to the bank why your current mortgage payment has become unaffordable.  All of this information will be verified and reviewed carefully before your loan modification will be approved.

The Obama stimulus loan modification plan has standard terms and procedures-if you can prove you meet the guidelines you are approved-if not, you are denied.  You will greatly increase your chance of approval if you take the time to work on your budget, hardship letter and gather all of your income documents before contacting your lender.  You need to be sure that you make the necessary adjustments to your budget so that you have a good chance of qualifying.  Once the bank sees your information it is too late to make any changes.

Once you have all of your loan modification forms fine tuned and completed correctly, you will be ready to submit your paperwork for final review.  You will be given a short telephone interview and it is a good idea to have copies of everything you sent in so you can refer to them and answer the questions correctly.  It’s not hard to properly prepare your application-use the best selling handbook for homeowners, The Complete Loan Modification Guide kit and follow the step by step directions.

You can get the help you need to apply and qualify for a loan modification by ordering the #1 resource 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.

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