If you have ever searched for the Federal loan modification program online, then you will have noticed all of the other programs trying to compete with it. There are also false agencies turning up all over the place to scam you out of your money claiming to be able to fix your mortgage woes. Well, this being said, most of the legitimate programs ? if any at all ? will not be able to compete with the program that Obama has set up for you.
Just like other institutes, there are requirements to be met to ensure that you are actually in need of the assistance. There will be many applying that aren't in desperate situations like others. This is routine for any agency. The institutions participating in this program, however, have to follow all of the same rules, no exceptions. They all have the same criteria to look at when accepting applicants and they all offer the same benefits.
To find the appropriate information for your circumstances, the Federal Government has all of the rules and regulations posted on their websites. There are different sets of criteria based on your income and loan amount. Before doing this, check the date of your loan, as it must have been taken out before January 2009. If it's not, then knowing this will save you time looking; if it is, then you have a chance.
If you can't find what you are looking for you can use the site index or search under 'loan modification' on the government site. If you search on Google, be sure to add Federal to the search. It will save you from sorting through irrelevant sites.
View this post on my blog: http://www.federalpersonalloan.com/federal-personal-loan/how-is-the-new-75-billion-dollar-federal-loan-modification-program-different-than-the-previously-ones.html
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