Federal Plan

There are new program guidelines effective April 2010 that borrowers needing a Wells Fargo loan modification should be aware of.  The Fed has been frustrated with the low number of completed loan workouts so far, and has made some changes to the HAMP procedure to help homeowners and the lenders process applications much more quickly. The updated process for HAMP approval is much more streamlined and promises a quick answer for borrowers who apply correctly.

How do you apply for a Wells Fargo loan modification and more importantly how do you qualify for a loan workout?  HAMP is a federal program that the lender uses to modify qualified borrowers using that standard guidelines and methods.  The good news for homeowners is that since the guidelines are standard for everyone, you don’t have to guess about what it takes to qualify.  Simply learn those guidelines and apply them to your own application so you have the best chance of appoval.

A Wells Fargo loan modification in 2010 can mean that your interest rate could be as low as 2%, and

Know the Guidelines

your total monthly mortgage payment will be much more affordable for you.   Remember, Wells Fargo will only get paid from the Treasury Dept to modify your loan if you can prove that you fit into the federal guidelines.  Your job is to prepare and submit an accurate, complete and acceptable loan workout package.

If you are not sure just what it takes to qualify, take the time to learn the federal formula for qualifying.  This formula uses your gross monthly income, loan amount and standard methods of modifying-like lowering your interest rate.  Sometimes a minor adjustment to your financial statement is all that it takes to qualify-but if you don’t know that ahead of time you could find yourself denied for a loan modification.

Does all the calculations for you!

There is a software program designed just to help homeowners prepare their loan modification application and will do all the calculations for you automatically.  You will see immediately if you need to make any minor adjustments to your figures in order to fit into the approval guidelines for HAMP.  This will save hours of time and frustration, as well as help you avoid costly mistakes.

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 Loan Mod Quick App and it calculates it all for you! You can save hours of time and avoid costly mistakes.

Download immediately!

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 download!