| Obama's Federal Loan Modification Program Can Save You Thousands - Find Out if You Qualify! |
In an effort to help those who are finding it financially difficult to stay in their homes, President Obama has initiated a new program called the Affordability and Stability Plan. This plan puts $75 billion aside for banks and other mortgage lending institutions to help people who may be in danger of losing their homes.
The Plan has two different types of homeowners that it is designed to help. The first is those people who are current on their mortgage but who are having financial hardships and may become delinquent in the near future. The second part is designed to help those who are already behind on their payments and facing foreclosure.
Not all banks or mortgage lending institutions are required to participate. However, it only makes sense to help those who need it keep their homes. If you fall into one of the above categories, here is a brief list of guidelines to help you decide if one of these plans may be for you:
* The home must be your primary residence.
* The plan does include second mortgages.
* Your payment must equal 31% or more of your gross income.
* You need to be able to prove your income.
* You do not need to currently be delinquent on your payments.
* There is no charge to apply for the loan.
* Your loan must be older than January 1, 2009.
* The total loan must not be more than $729,750.00.
* You must be facing some type of financial hardship.
Now, please bear in mind that not all homeowners will meet every guideline. Even if you only meet several of the above situations, you may want to investigate further into how you may benefit from the Loan Modification Plan. There are incentives provided to those who take advantage and participate in this program. If you are able to keep your new mortgage current, you may be rewarded up to $1,000.00 towards the principle of your loan at the end of each year for up to five years.
This is a good time for those who are suffering from financial difficulty to look into how the loan modification program can work for you.
***Update***
I have done a bit of research for you. These loan modification experts can help you. You can find out if you would qualify for a modification loan for free! Don't wait; your home could depend upon it! Take the first steps to saving your home today! You will be thankful tomorrow!
There is hope, click here to fill out a short form to save your home! You will be matched with a qualified loan modification specialist.
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