If you are having trouble making those mortgage payments and desperately need help then you may be interested in hearing this. Obama has put 75 billion dollars into a fund for a loan modification program to help people like you keep your home and ease that financial burden. That's right � there is still hope for you.
If you have a loan that was taken out before January 2009 on your primary residence then you have just fulfilled the first requirement. Aside from this you will need to prove that you are experiencing vast financial difficulties by providing proof of income, and any other documentation relevant to this application. If your home is one unit, then there can be no more than $729, 750 owing on it. For homes with more units, the amount will be higher.
Once approved for this program, the government officials working on your case will use a special formula to calculate the amount of your monthly payments. This number will not exceed 38% of your family's gross monthly income. The interest rate will be reduced by 2% as well. After making three months worth of payments, $1000 will be taken off of your principle loan amount and this will happen every year that you are a part of this program. This money will be given to the institution by the government instead to ensure that even they are being profitable from this. If need be, your mortgage payments may be extended up to a forty year payment period.
For the full details of eligibility information and how to apply, visit the United States Federal Government website. They have all of the facts that you need.
***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.
