The Loan Mod Calculator automatically computes and displays your specific budget requirements to qualify for a HAMP loan modification-would you call it cheating to know ahead of time just how to fine tune your budget to meet the approval guidelines? Why shouldn’t homeowners be given the information they need in order to adjust their family’s monthly income and expenses in order to get a loan mod and keep their home?
The sad fact is that most borrowers are denied a loan workout simply because they did not complete their application correctly. This is NOT something you can GUESS at and hope it works! The Loan Mod Calculator was designed specifically to help homeowners know ahead of time just how much income, expenses and assets they need to report on their application in order to pass the standard approval guidelines.

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It’s not cheating to do whatever it takes to save your home-and making some minor adjustments to your budget may be all you need to do to change a loan mod denial into an APPROVED loan modification.

Visit MyLoanModificationCenter.com for more information.

How do you know if you will qualify for a loan mod?  Maybe you have already applied and been denied, but do not really understand why or how you can fight back.  It can be very frustrating to be in this position-the bank won’t tell you exactly what you need to show them in order to pass the approval guidelines, and you will have a very hard time figuring this all out by yourself.  What you need are the real answers-how much income, expenses and assets you need to report in order to pass the approval guidelines.

Budget Requirements Displayed

The Loan Modification Calculator was designed specifically to help borrowers get approved for a loan workout-this proven system mimics the standard approval triggers used by over 93% of banks to qualify their borrowers.  This is critical information to know in order to have the best chance of approval.

This system gives you the INSIDER FORMULA-giving you the specific requirements for:

1. Loan To Value:  how much you owe as opposed to what your home is currently worth
2. Debt Ratio:  how much of your monthly income is spent on mortgage expenses currently
3. Asset Ratio:  how much in liquid assets do you have on hand and whether you pass this guideline
4. Cash Flow:  after you pay all of your bills, how much money do you have left over?  You may need to adjust your expenses in order to pass this one, BUT you must also pass the AFTER MOD cash flow-the Loan Mod Calculator shows you this automatically
5. New Modified Target Payment:  what is the lowest new payment you qualify for? How do you know what to ask for if you don’t know this information? What will the Principal and interest payment actually be?
6. Waterfall Method of Modification:  the Loan Mod Calculator will compute the new mortgage terms using the standard, federal formula and show you whether you PASS OR FAIL this guideline.  This information will allow you to fine tune your income figures to make sure that you PASS!

If all this sounds complicated, don’t worry because the Loan Modification Calculator is easy to use, and it will AUTOMATICALLY compute and display your own specific budget requirements for you.  Remember, getting a loan workout is all about the MATH-either your budget passes or you will be denied.  You can get the real answers you need NOW to pass the approval guidelines.

Use the #1 best selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  This powerful system will

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give you the insider formula so that you can prepare your application correctly.  You also receive FREE one-on-one Customer Support, so that your questions can be answered before you submit your paperwork.  Visit MyLoanModificationCenter.com today and get started NOW.

One of the first requirements for a Wells Fargo loan modification is that you must pass the Debt Ratio criteria, this can be a confusing part of the application for homeowners who don’t understand what the bank is looking for.  What is the debt ratio requirement and how do you figure it out?  Here is some helpful steps to take when you are working on your own budget to submit for loan mod review.

WELLS FARGO LOAN MODIFICATION DEBT RATIO REQUIREMENT

1. 1.  Current Mortgage Expense must EXCEED 31% of household gross monthly income:  This means that the total of your mortgage payment, monthly property taxes, insurance and any HOA dues must be greater than that percent of your total gross income each month.
2. 2.  New Target Mortgage Payment must equal 31% of your total reported gross monthly income:  this is what Wells Fargo and the Fed has determined will be an affordable payment for you, based on your budget as reported on your application paperwork.
3. Debt Ratio Formula:  Total all monthly mortgage expenses (first mortgage payment, monthly property taxes, monthly insurance, monthly HOA) and DIVIDE that total figure by your total Gross monthly household income.  If the result is less than 31%, you are not a good candidate for a Wells Fargo loan modification as your current mortgage payment cannot be modified any lower.

HOW TO PASS THE DEBT RATIO REQUIREMENT

1. Work on your budget ahead of time so that you know if your monthly gross income will be acceptable-you may need to make some adjustments to meet the criteria.  Too much or too little income will cause a denial, you can double check your own debt ratio by running your budget through the Loan Modification
   

   Budget Requirements Displayed

   Calculator-this program will instantly compute and display your own ratio.

2. Using the Calculator, fine tune your figures until you are passing the Debt to Income Ratio, and the new Target Payment shows PASS under the Waterfall Method.
3. The goal is to make any necessary adjustments to your income, expenses and assets before you submit your paperwork for review so that you know your budget fits right into the approval guidelines.

Wells Fargo will review your paperwork for debt ratio, but they will also be looking at 6 other triggers for approval-all based on the income, expenses and assets that you report on your application.  Use the Loan Modification Calculator to help you prepare your paperwork correctly-you will see what your specific requirements are and then be able to make the required adjustments ahead of time.

Get the real answers you need-use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  Avoid the reason most loan workouts are denied-learn exactly how to

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prepare your budget so that you have the very best chance of approval.  Visit MyLoanModificationCenter.com today.

HAMP

The HAMP program qualifications may seem so difficult to figure out and get approved for a loan mod, homeowners struggling through the process could feel like no one actually succeeds with the program.  The facts support the perception that very few do get a loan workout, but it still remains true that hundreds of thousands of borrowers have been given permanent loan mods under the HAMP plan.

Here are some quick HAMP Facts & Figures:

1. $9.9 billion dollars have been saved by homeowners through the federal loan modification plans
2. $529.75 is the average monthly savings realized by homeowners who received loan mods
3. 83% of eligible homeowners whose trial mod became permanent
4. 25% is California’s share of the federal loan modifications

So why do some borrowers succeed with HAMP while other deserving borrowers do not get any help?  Sometimes it may just be luck, but in order to really have a good shot at approval the homeowner must be able to prepare and submit their application correctly-and this means that they can prove in black and white that they fit right into the very narrow approval criteria required by HAMP.  The guidelines include:

1. Gross Monthly Income-Debt to income ratio
2. Monthly Expenses-Cash flow
3. Assets-Asset ratio
4. Loan To Value-NPV test
5. Waterfall Method-Must pass the standard method of modifying the current loan

Apply Correctly

The problem for most borrowers who apply for HAMP is that they really have no idea how to complete the monthly budget financial worksheet portion of the RMA

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application.  The lenders will not provide this specific information to applicants, and so the majority of loan mods are declined simply because the borrower did not know how to fine tune their own monthly budget in order to meet the HAMP program qualifications.

Get the answers you need to increase your chances of HAMP loan mod approval, use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  This system was specifically designed to help borrowers learn the requirements for income, expenses and assets to pass the standard guidelines.  The Calculator will instantly compute and display your own specific budget figures.  Visit MyLoanModificationCenter.com today.

RMA List

Do you know how to complete the Bank of America RMA form to make sure you get approved for a loan modification?  This is harder than it sounds, because unless you show the bank exactly what they need to see on this application, you will be turned down for a loan workout. Here is a quick checklist of the most important homeowner requirements for approval to help you avoid mistakes and increase your chances of success.

BANK OF AMERICA RMA FORM CHECKLIST FOR HOMEOWNERS

1. Monthly Gross Income-Make certain that the amount you list on page 2 of the RMA form will pass the guidelines.  You cannot show too much income or too little income-otherwise you will fail the requirements for debt ratio and you will not pass the Waterfall Method criteria.  You can verify how much income you need to report by running your budget through the Loan Mod Calculator, a tool for homeowners use.
2. Monthly Household Expenses-verify that the bills and expenses you list prove to the bank that you are barely making it each month, but also prove to Bank of America that a loan modification will be a solution for you.  Your pre-mod cash flow and post mod cash flow must pass the requirements-you can double check that your expenses will be acceptable by using the Loan Modification Calculator, then make any necessary adjustments before submitting to the bank.
3. Asset Ratio-make sure that your assets pass this important criteria and prove to Bank of America that you have exhausted all other options and can no longer
   

   Budget Requirements Displayed

   afford your mortgage.

4. Hardship Letter/Hardship Affidavit-the RMA form has 4 options for you to choose from:  loss or reduction in income, high monthly debts, lack of reserves, increased expenses.  You can also write a more detailed explanation of your financial hardship on a separate sheet of paper, be sure to keep it brief and sign it before you attach it to the application.
5. Proof of income reported-you must provide proof to Bank of America for any income you report on the RMA form.  Pay check stubs, canceled checks, bank deposits, award letters, bank statements, etc.  Everything must match up or they won’t count the income correctly.

There is only one way to get approved for a Bank of America loan modification-complete your RMA form so that it proves in black and white that you are the perfect candidate.  Showing just the right budget figures is the secret to success-take the time to verify that your income, expenses and assets will all pass the requirements for approval before you submit your application.

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Get the real answers you need-use the best selling, #1 resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  This powerful system will automatically calculate and display your own specific budget requirements for income, expenses and assets.  Use this critical information to help you prepare your RMA correctly for fast approval.  Visit MyLoanModificationCenter.com today.

HAMP

The federal loan workout program has standard guidelines, every homeowner who wants to get a HAMP loan modification will have to prove that they meet the qualifications.  How do you do this?  It all comes down to preparing and submitting your application paperwork correctly-you must prove to the bank that your situation fits the program criteria.  Although not everyone will qualify, you can increase your chances of approval if you know just what your bank needs to see on your paperwork.

HAMP LOAN MODIFICATION APPROVAL QUALIFICATIONS

1. You must live in the home, loan originated before Jan 1, 2009, and have a loan amount less than $729,750
2. Your current housing ratio must be GREATER than 31%-meaning the total of your mortgage payment, property taxes, insurance and any HOA dues equals more than 31% of your household gross income.
3. Your monthly income must be sufficient to pass the Waterfall method of modification, but cannot be too high or you will fail the debt ratio criteria.
4. The household monthly expenses must demonstrate a financial hardship, but cannot be too high or the post mod cash flow criteria will fail.
5. Your assets must pass the Asset Ratio test
6. The new target payment must be affordable and your mortgage be modified within the parameters of the Waterfall Method.
   

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7. You must pass the NPV test, proving that it is cheaper for the bank to modify you rather than foreclose.

This may seem very confusing, but keep in mind that HAMP requires a very strict underwriting process and each borrower must pass all of these qualifications or they will not be approved.  It’s  not surprising that so many fail-this can be too complicated for most folks to figure out on their own.  Unfortunately, your bank will not tell you exactly how to complete your application, or explain how much income, expenses and assets you should report to actually qualify.

You need to know ahead of time just how to fine tune your own budget figures so that you can qualify for the HAMP loan mod you need and deserve.  You can use a powerful tool designed specifically for homeowner use to help you with the information you need to know.  The Loan Modification Calculator mimics the approval qualifications for HAMP, and will instantly compute and display your own specific budget requirements.  You can then fine tune your income, expenses and assets using the Loan Mod Calculator until you see that you pass all of the criteria.  Visit MyLoanModificationCenter.com today to get started right.

Apply Correctly

Ask any struggling homeowner how they are doing on their Indymac loan modification, and they will undoubtedly tell you how difficult it is to pass the approval guidelines. Although the bank does offer the HAMP government program, most borrowers do not really understand exactly what they need to show the bank in order to get approved for a new lower mortgage payment.  The only way to get the help you need an deserve is to prepare your application correctly-and prove to the bank in black and white that you are a perfect candidate for loan mod help.

Indymac loan modifications have been difficult to get from the very beginning, and although the process has been streamlined over the last year, the approval guidelines are still the same.  In order to get approved, the bank will be looking at your application very carefully to determine if you pass the criteria.

INDYMAC LOAN MODIFICATION APPROVAL GUIDELINES-QUICK CHECKLIST

1. Right amount of monthly income-this is critical because if you show too much or too little gross income, you will not pass the Waterfall Method of modification and your loan mod will not be approved, and your debt ratio may not be acceptable.
2. Monthly household expenses meet the banks guidelines for cash flow and financial hardship.
3. Assets-do you pass the asset ratio test?
4. Can you current loan be modified to achieve your target payment and still be cost effective for Indymac?  This is called loss mitigation, which means that the bank
   

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   will determine if modifying or foreclosing is cheaper for their bottom line.

When you apply for an Indymac loan modification, you must complete the 3 page RMA form.  Page two of this form is the financial worksheet-this is where you must break down your household budget.  Your gross monthly income, monthly expenses and assets will be carefully reviewed and checked to see if they pass the approval guidelines.  Before you send this in for review, you can verify that your budget will be acceptable by running it through the Loan Modification Calculator.  This powerful tool will instantly show you if you are passing or failing, and where you may need to make adjustments to your budget before you send it in for final review.

Make sure that you pass the approval guidelines, use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit

and Loan Mod Calculator.  This proven system will instantly compute and display your own specific budget requirements-allowing you to know ahead of time just how much income, expenses and assets to show on your RMA form.  Visit MyLoanModificationCenter.com today.

Success

Getting approved for a Bank of America loan modification can be tricky-if you don’t know the specific guidelines for approval then you are probably not going to complete your application correctly.  There is standard criteria for every homeowner who applies, and most borrowers are simply lost when it comes to understanding exactly what they need to report on their financial worksheet application form.

The basic approval guidelines are easy enough, you must be facing a financial hardship situation and be able to prove that you have enough monthly income to support the new modified payment.  But where it gets tricky is knowing just how much monthly income you need-if you show too much or too little your application will be denied.  Here are the main things that Bank of America will be looking for on your loan mod application:

1. Gross monthly household income-cannot be too high or too low or you won’t pass the Waterfall Method of Modification
2. Loan to Value-how much do you owe on your home as opposed to its current market value
3. Debt to income ratio-how much of your income is spent each month on your mortgage expenses
4. Asset Ratio-how much money do you have in liquid assets
5. Current cash flow-do you have money left over each month after paying all your bills or are you barely making it
6. Do you pass the Waterfall Method to modify your current mortgage
7. What is your post mod cash-will the new modified payment be a solution for you or are you still unable to afford the new, lower payment

Basically, the Bank of America loan modification approval guidelines are a tiny box that you must fit into-that is very hard to do for most people who have no

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experience with this process.  Your goal is to fine tune your own budget figures before you submit it for review and know ahead of time just what you need to report in order to pass the approval criteria.

There is a program designed specifically for homeowner use that will automatically compute and display your own specific income, expense and asset requirements.  The Loan Modification Calculator will show you all 7 of the above guidelines-and let you see where and how to adjust your own figures before you submit them for final approval.  Visit MyLoanModificationCenter.com to learn how this powerful system can help you.

HELP!

Hitting a brick wall with your Wachovia loan modification?  Trying to figure out just what the bank needs to see from you in order to get approved for a loan workout can be very frustrating.  Good luck with trying to get any real answers from the bank, they will not explain to you just how you need to complete the application forms or give you any idea of how much monthly income you need to report in order to qualify.

What you need are some real answers-and you need them before you submit your application for review.  Here are 7 Tips to help you increase your chances of approval.

WACHOVIA LOAN MODIFICATION-7 TIPS TO BEAT THE BANK

1. Don’t disclose your financial information until you have verified that it will fit into the approval guidelines-you need to show just the right amount of monthly income, monthly expenses and assets in order to pass.
2. Work on your monthly financial worksheet ahead of time-fine tune your figures before you submit them for final review.  Wachovia uses the same approval formula on every application-you can verify your own figures by running them through the loan modification calculator-a program designed specifically to help
   

   Budget Requirements

   homeowners complete their application correctly.

3. Make sure that whatever income you report on your financial worksheet you can substantiate.  If the loan mod calculator shows you need more income, then you will need to show the bank canceled checks, bank deposits, etc. or they will not count it as income.
4. Your current mortgage must be able to be modified using the Waterfall Method-this means that a new, lower target payment can be achieved by lowering the interest rate to 2%, extending the term to 40 years or if needed, reducing the loan balance.  You will FAIL the waterfall if you do not report the right amount of monthly gross income on your Wachovia loan mod application.
5. Once you know exactly how much income, expenses and assets you need from the loan mod calculator, transpose those figures onto the official RMA form.  Be sure to provide the required income documentation and the signed 4506T form and Dodd Frank Certification.
6. Make a complete copy package for your records, and keep a folder with a contact log where you note everything that happens during the application process.
7. Call into Wachovia one week after submission to confirm that they have received your paperwork and make sure nothing is missing.

Getting a Wachovia loan modification is no walk in the park, but it is possible if you have the inside information needed to meet the qualifications.  Use the loan mod calculator to help you fine tune your own budget figures and you will have a good shot at approval.

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Get the real answers and real help you need-use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  This proven system was designed specifically for homeowner use, and will automatically calculate and display your own specific budget requirements.  Income, expenses and assets will be calculated and displayed to  help you know how to fine tune your budget figures.  Visit MyLoanModificationCenter.com today.

Why is it that some homeowners get approved for a Chase loan modification while other homeowners who are just as deserving fail?  There is some hard, cold facts about just why the majority of borrowers get turned down, and once you understand what they did wrong maybe you can avoid the same pitfalls.

CHASE LOAN MODIFICATION TIPS FOR SUCCESS

1. Don’t disclose your financial information-monthly income, expenses, assets-until you have had the chance to verify that your budget will pass the approval formula.
2. Work on your financial worksheet ahead of time, you must show just the right amount of gross monthly income to fit the program requirements and to pass the Waterfall Method of Modification.  If you show too much or too little income, your expenses are too high or too low or your assets are not listed right, you will be denied.  You can find out how to fine tune your budget by running your figures through Loan Modification Calculator, a program designed specifically for borrowers that computes your specific budget requirements for you.
3. Be prepared to document any income that you list on your Chase loan modification financial worksheet, if you find out that you need more income after
   

   Income Requirements

   using the Loan Mod Calculator, then you could rent a room or perhaps some other source of income.  If you know ahead of time how much income you need, then you can work on getting it documented ahead of time for the bank.

4. The Loan Modification Calculator will show you the very best terms that you qualify for on your loan workout-this is important because now you know what to ask for and won’t accept something that is not the best you qualify for.
5. Fine tune your budget so that the Calculator shows you passing on all the guidelines, then use those figures on your final application form.  You must prove to Chase that you fit right into the program guidelines for income, expenses and assets if you hope to get approved.

CHASE LOAN MODIFICATION PITFALLS THAT LEAD TO DENIAL

1. Not working on your budget and making any needed adjustments to your income, expenses or assets before you submit it.  If you show too much or too little income you will be denied immediately.
2. Not knowing what you should be asking Chase for, unless you know the best loan mod you qualify for, how can you understand just how to qualify for the very best new terms?  You may accept a loan workout that is not as good as you could have received.
3. Not having the information and confidence you need to fight back when the bank declines your application.  Unless you know specifically that your financial situation fits the guidelines, you won’t have much success convincing the bank to approve you.

Success

Make sure that you are among the Chase loan modification success stories and not one of the failures.  Don’t expect the bank to help you out, it is up to you to prepare your application correctly and fight for your rights.  This is much easier to do once you are informed and prepared with the knowledge that you pass the program guidelines.

You can get the real answers you need-use the #1 best selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator.  This system was designed specifically to help homeowners prepare their financial worksheet correctly-it automatically generates and displays your specific income, expense and asset requirements for you.  Visit MyLoanModificationCenter.com today and get

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started now.