If you are wondering if you qualify for a federal loan workout program with your lender Saxon Mortgage, you need to know the 5 things you can do to get a quicker approval on your loan modification application. You do have some control over whether your proposal will get approved-the secret is all in how you prepare your loan modification application. Here are 5 things you can do to help you get the results you want quickly:

1. Learn about the federal guidelines for approval before you fill out your loan modification application. It’s common sense, you will have a better chance of meeting the approval guidelines if you know what they are! Every program has certain criteria that must be met for approval-take the time to learn what you bank needs to see so you can be prepared. Learn how to compute your own debt ratio and find your new target mortgage payment.

2. Write a convincing, compelling and acceptable Hardship letter that really gets your lender to empathize with your situation. Only homeowners who can show convincingly that they are suffering a financial hardship will be eligible for a loan modification. Do you know the 3 critical elements of a successful hardship letter?

3. If possible, backup your hardship story with proof. For example, if you have large medical expenses, make copies of the bills. If you were laid off or had your hours reduced, copies of letters from your employer. This hard evidence will add credibility to your story and help convince your lender that your current situation is not your fault.

4. Be certain you do not omit any income, assets or debts on your loan modification forms. This is a full disclosure process and your bank will verify everything you provide to them. If you leave out information, your file will be set aside and your answer delayed. If you misrepresent something and the bank discovers it, then your application could be denied. Do you know all the documentation your lender will need to see from you?

5. Take the time to submit a complete, legible and accurate Saxon loan modification application the first time. This means that you have followed a checklist and made sure that your lender has everything they need to approve your proposal the first time. You can prepare a professional and acceptable loan workout proposal when you have simple step by step directions to follow.

Federal Plan

The new Obama government programs are making a loan modification easy to get for millions of need American homeowners. $75 billion dollars has been set aside to help borrowers just like you avoid foreclosure and stay in their home. Saxon is participating in the federal Home Affordable Modification Program.  This means that your lender will now get paid to give you a loan modification! That is a big incentive for them to help you quickly. Make sure that you take the time to learn and prepare before you contact your lender to apply-this is your chance to get the help you need and deserve-don’t miss out!

You can get the help you need to apply and qualify for a Saxon 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