How to get a loan modification. Learn about all of the various new loan modification programs being offered by the government and big banks.

1. GUIDE TO LOAN MODIFICATION
IMPORTANT FACTS ABOUT MODIFYING YOUR MORTGAGE AND SAVING YOUR HOME
Monday, February 9, 2009

2. What is a Loan
Modification?
Like a mortgage refinance
Modify existing mortgage terms
Requires proof of “hardship”
Eligible after missing payment(s)
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Monday, February 9, 2009

3. Why Not Refinance?
Loss of income
Loss of home value
Declining credit score
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Monday, February 9, 2009

4. Am I Eligible?
Documented hardship
Missed one or more payments
Primary residence
Not filed bankruptcy
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Monday, February 9, 2009

5. Where Do I Get One?
Mortgage lender
Mortgage servicer
Attorney
Beware of loan
modification
“specialist”
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Monday, February 9, 2009

6. What Documentation?
Hardship letter
Mortgage payment history
Monthly budget (income and debt)
Document responsiveness to lender
Other, as requested by lender
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Monday, February 9, 2009

7. Loan Modification
Programs
IndyMac Bank
Federal Housing
Finance Agency (FHFA)
Citigroup
JP Morgan Chase
Bank of America
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Monday, February 9, 2009

8. Need More Information
Loan modification programs continually change
New loan modification rules and eligibility
More banks offering loan modifications
Get the latest:
Guide to Mortgage Loan Modification Programs
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Monday, February 9, 2009

9. MortgageLoan.com
Latest mortgage news and information.
Find informative mortgage guides, rates,
and preferred lenders:
http://mortgageloan.com
Monday, February 9, 2009