The Obama administration announced the Home Affordable Modification Program on March 4 2009, officially allowing up to 9 million homeowners to reduce their mortgage payments by modifying their loans.
The 75 billion dollar program provides lenders incentives to help homeowners. A Loan Modification is a process of having your lender modify your existing loan, giving you a lower interest rate. This allows you to receive a lower monthly payment, without having to refinance.
How it Works.
Determine your basic eligibility by answering the questions on Step 3.
Fill out the form below to get your Free Loan Modification Consultation.
Once you complete the form, you will be contacted by a Loan Modification Provider who can submit the necessary documentation to get your Loan Modification Approved with your lender.
Complete the Form Below If You Answer Yes to The Following Questions.
1. Is Your home your primary residence? 2. Is the amount you owe on your mortgage LESS than $729,750.00? 3. Are you having trouble paying your mortgage?
*Your payment history is not a factor in qualifying for this program, you may be behind on your mortgage or current.
“If lenders and homebuyers work together, and the lender agrees to offer rates that the borrower can afford, we’ll make up part of the gap between what the old payments were and what the new payments will be. And under this plan, lenders who participate will be required to reduce those payments to no more than 31 percent of a borrower’s income. ”
