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Government Help for Homeowners
Government Help for Homeowners
Do you find yourself unable to keep up with mortgage monthly payments? Do you find you are sacrificing a lot because you are too busy in working hard making payments? Do you “curse yourself because you are not getting paid well? I am sorry you have to go through all this! The answer to all questions is Obama’s loan modification program.”
Abilene,
TX,
United States of America
(prbd.net)
25/02/2011
Manhattan, New York, 25-2-2011: People who are in a real bad condition financially and having hard time paying for the bills of the family should consider refinancing. But their Loans should be the under the Fannie Mae and Freddie Mac. These refinancing agencies are giving 125 percent of the value of the home. The Obama Administration is also providing extra cash to everyone who is having trouble even after loan modification. They are helping by giving more cash and helping them sell of their properties and rent a home that affordable to them.
The administration has done an incredible thing by overruling the private real estate sector. The administration understands its commitment to the homeowners and aims on supporting the homeowners on many levels by loan modification programs.
You might have heard negative comments on the loan modification, but if people were really not happy then 237457 Mortgages should not have being modified in past July. The Obama Administration also provides Foreclosure Alternatives Program also.
The Obama Administration has also appointed representatives in the housing and development department which are free and only for the people. There are several other grants available to the citizens who need extra support through Obama loan modification program.
Application Process of Obama's Loan Modification Programs:
•Complete the Request Form (Request for Modification and Affidavit)
•Complete the Tax Authorization (IRS 4506T-EZ Form)
•Gather Proof of Income
•Send the Documents to Your Mortgage Servicer
Who can qualify for this Loan Modification Program?
1.Your home should be your primary residence
2.Includes second mortgages
3.Proof of your income
4.Your current house payment must equal 31% or more of your gross monthly income
5.You need to have clean criminal records to apply for this loan modification program
6.No charge to apply-Free loan modification program
7.Your loan must have been taken out prior to January 1, 2009
8.Loan amount is less than $729,750
9.Attestation that you are facing financial hardship.
Obama has allotted $ 75 billion to 3-4 million people just to support them financially in this economic crisis. Read my article to learn how this loan modification plan can help you save from the possible foreclosures.
Due to the insecurity in jobs of the homeowners the Bank and lenders are finding it difficult to approve mortgage modifications and refinances. Hence, looking at the condition of all the homeowners Obama took the initiative and made this economic plan to help the homeowners by modifying their loans by 2 % and also by giving 1000 dollars to all the lenders for the first three years of the loan amount.
For more information visit http://www.refinanceitt.com/