Obama's Federal Loan Modification - Help in a Hurry?

If you are in a mortgage mess, you probably feel like you need to do something as fast as possible. Foreclosure may seem very imminent. Obama's Federal Loan Modification may be just the help you are looking for, but the wheels may not turn as fast as you would like!
President Obama has signed a Home Affordable Plan that is intended to help qualified homeowners who are in trouble with their mortgage. It works by encouraging banks and lenders to rework a homeowner's existing mortgage by granting a loan modification. They receive $1000 for every loan modification that they do. These reworked mortgages have a much less monthly payment, less than 31% of the homeowner's gross monthly income.
The process may not be as streamlined as President Obama had hoped. He has requested that lenders bump up the number of employees that they have assigned to help homeowners frantically seeking help to avoid foreclosure. But, it is not quite "fixed" yet. You can just about count on somewhat of a wait.
It may take some time to get your application processed, and it may even take time to get through the phone lines! You definitely should begin to study the guidelines of the program, and prepare your application accordingly, but you should not contact your lender until you have done all of your homework. You are only allowed one application for Obama's Federal Loan Modification, and you need to be sure that it is done right the first time!
So you need help in a hurry, that's for sure, but you don't need to hurry too much and forget any details. They could cost you your home.

View this post on my blog: http://www.federalpersonalloan.com/federal-personal-loan/obamas-federal-loan-modification-help-in-a-hurry.html