An Indymac loan modification may be the solution for converting your high mortgage payments into low affordable terms so that you can stay in your home comfortably.  But just how does this loan workout program work?  Who qualifies and what is the best way to apply?

Indymac Loan Modification Process Details:

1. Designed only for borrowers who live in the property-not rental or second homes
2. You must be able to prove that you are facing a financial hardship situation-this could be due to loss of income, medical reasons, marital issues, high credit card debts, etc.
3. Your Indymac loan should have been taken out before January 1, 2009 and the balance is less than $729,750
4. The current mortgage expenses-including taxes, insurance and any HOA dues must exceed 31% of your gross household monthly income

Learn how to fill them out correctly

Ok,  so that is the basic application criteria for an Indymac loan modification, but just how to you apply correctly and most importantly make certain that you have the best chance of approval?

1. Contact Indymac and ask to apply for HAMP-Home Affordable Modification Program
2. Take a short telephone interview to determine if you meet the basic eligibility (detailed above), then you will be sent an application package in the mail
3. You must prepare a short 3 page application that includes a financial statements detailing your income and expenses.
4. You will sign a 4506T form, a hardship affidavit and write a brief explanation of your current situation, and provide proof of your income-paychecks or Profit  & Loss for self employed borrowers
5. Mail this all back for review and final determination of qualification
6. When your are approved, you then begin a trial loan modification for 3 months before loan mod becomes permanent

What is the secret to being sure you have a good chance of Indymac loan modification approval?  Simple-it’s your financial statement-this must prove that you fit into the guidelines.  This means that your current income and expenses have been filled out so that they fit into a 4 step formula that includes your debt ratio, new target payment, disposable income and more.

Does all the calculations for you!

This may sound confusing, but if you need help you may want to use a software program that is designed specifically to help homeowners complete their application correctly.  Just put in your income and expenses, and all the calculations are done for you immediately.  You can see if you need to make some adjustments to your budget in order to fit into the guidelines.

This is critical information to know when applying for your Indymac loan modification.  The lender will not tell you this information, but as long as you meet the triggers for approval on your financial statement, you will have a much better chance of success.

Not sure how to qualify for a loan modification?  Loan Mod Quick App software takes the confusion out of preparing your application.  This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you.  Why take chances with your application?  Simply input your unique financial information into the

Download immediately!

Loan Mod Quick App and it calculates it all for you!  You can save hours of time and avoid costly mistakes.  The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more. Visit myloanmodificationcenter.com and order today-Immediate do