Why would a homeowner faced with foreclosure slap some paperwork together, to their lender send it over for review and just hope it all works out? That is really taking a big chance-a chance with your family’s home and financial future. Since the approval guidelines and loan modification criteria are mandated by the Treasury Department, doesn’t it make more sense to take the time to learn and prepare before you apply for Obama’s home affordable modification plan? Some homeowners may feel that they don’t have the experience or skills to be able to prepare their loan modification application correctly. Well, the truth is that you do not have to be expert-in fact if you can follow simple step by step directions, do simple math and use easy charts, you can complete a really good proposal for your lender. Obama’s loan modification criteria is standard for everyone – so take a minute to learn the basics and increase your chances of approval. The centerpiece of the home affordable modification plan is called a target payment.

This is the goal-a low affordable payment that equals 31% of the household big income. In order to reach this target payment, certain

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right into that formula. Sometimes adjusting your family’s budget just a couple hundred dollars can make all the difference! You can get the help you need to apply and qualify for a loan modification by ordering and downloading the best selling handbook for homeowners, the complete loan modification Guide. This is a low cost, easy to read home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. The complete loan modification guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender.