Do You Qualify for a Loan Modification?
If you are having problems making mortgage payments, you could qualify for a loan modification under the "Making Home Affordable" plan.
Is this home your primary residence (owner-occupied)?
This only applies to homes that are primary residences (not second homes, rentals or vacation properties). Speculators or those who bought homes for investment purposes are not eligible.
Did you get your current mortgage prior to Jan. 1, 2009?
Only loans originated prior to Jan. 1, 2009 are eligible for this loan modification plan.
Is the amount you owe on your primary mortgage equal to or less than $729,750 (for a single-family home)?
Only mortgages with amounts equal to or below the conforming loan limit of $729,750 are eligible.
Is your monthly mortgage payment (including principal, interest), more than 31% of your gross income?
Anyone with high combined mortgage debt compared to income or who is underwater (i.e., has a combined mortgage balance higher than the current market value of his house) may be eligible.
Are you having trouble paying your mortgage?
If you are facing financial hardship because of significant changes in income or expenses, you could qualify. You will be required to enter an affidavit of financial hardship.
Loan Modification
CALL: 561.622.3223
Give Chris a Call at 561.622.3223
