| Obama's Federal Loan Modification Plan - List of Participating Lenders |
The Obama federal loan modification program is expected to benefit four to five million homeowners in America. Because foreclosure benefits neither the mortgage lender nor the homeowner, most lenders are eager to participate in this program, but they are not required to do so. Mortgage lenders agreeing to participate in Obama's federal loan modification program must agree to Treasure Department guidelines and are given incentives to work with financially strapped homeowners to handle modifying loan requests.
MHA, or Making Homes Affordable, offers this list of current lenders taking part in the Obama federal loan modification program (in alphabetical order):
1. Bank of America.
2. Carrington Mortgage Services.
3. Chase.
4. CitiMortgage.
5. Countrywide.
6. GMAC.
7. Green Tree Servicing.
8. Home Loan Services, Inc.
9. Ocwen Financial Corp.
10. Saxon Mortgage Services.
11. Select Portfolio Servicing.
12. Wells Fargo Bank.
13. Wilshire Credit Corp.
More lenders are agreeing to participate in the federal loan modification program, so continue to check back for additions to the list. Ask your mortgage lender or bank if they are participating if you don't see them listed above.
Even if you've previously been turned down by your individual lender, you may qualify and be eligible now under this new modify loan program. Completing the paperwork properly and adhering to the guidelines as set out by the government and the participation lender is the key to your modification approval. Don't meet with your lender until you've gathered the appropriate documentation demonstrating your financial situation and filled out the application in detail, carefully checking for mistakes before you submit the information.
Preparing our paperwork in advance will improve your chances for gaining assistance under the new Obama federal loan modification plan.
For more information about Obamas government loan modification program, visit the #1 loans modification resource on the net: http://HomeLoanModifications101.com
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