Modify Your Mortgage Loan

You know how hard you have worked to make your house a home, the place where you and your family feel welcome, safe, and secure. Although you do not want anything to threaten your home, a change in your mortgage interest rate or a reduction in your income may have put your dream of home in jeopardy. A home mortgage modification may save you.
If you are struggling to met your home mortgage obligations, do not wait until you go into foreclosure. Take action right away. With timely action, you probably can save your home and protect your credit rating. Most importantly, you can spare your family the heartache and humiliation of eviction.
Qualification
If you own and occupy your home worth $720,000 or less, and if you have missed at least one mortgage payment, you meet the basic eligibility criteria for a federally insured home loan modification. Your mortgage must have backing from "Fannie May" or "Freddie Mac"; most home loans have that backing. And you must have suffered a serious financial hardship, which you can explain in detail and document. Most struggling families meet exactly these criteria. In fact, nearly nine million families are eligible for home mortgage modifications.
To begin the application process, contact your local Office of Housing and Urban Development; or you may visit HUD on the internet or dial one of their toll-free numbers. The information and application forms cost you nothing, and HUD offers technical assistance in the application process.
Work with your lender; your lender can become your most valuable ally and collaborator.
Do not imagine your lender is the enemy. He wants you to keep your home almost as badly as you want to keep your family in it. Banks and other lenders do not want the headache and complication of trying to sell your home at a reduced price, cluttering their books with "toxic assets," which cripple their borrowing status, and driving housing prices down even further. They would rather help you restructure your loan, making it manageable; and the federal government will support you in these efforts. Most lenders will help you demonstrate your credit worthiness and document your financial history. Most lenders also will guide and support you systematically through the modification process.
For tips and facts about how to get approved for a Mortgage Modification - Visit our simple, no nonsense loan modification guide and resource: http://MortgageModificationLoan.net
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