I am on a  mission is to provide information and/or a solution for struggling homeowners to be able to remain in their home.  Through the process known as a “Loan Modification”.  If you know of ANYONE, a family member, friend, coworker, neighbor, etc., that is with a mortgage product that is adjusting or recasting to the point where it might be hard to keep their home, a person experiencing a hardship financially, medically, or due to employment issues, PLEASE let me know! 

One of the Government assisted programs for a loan Modification is the Home Affordability and Stability Plan,  which offers the following terms*:

1.-Lenders would have to reduce the mortgage payments to no more than 38 percent of the borrower’s income.

2.- The Treasury would share the cost for lenders to cut that debt-to-income ratio to 31 percent.

3.- The modifications would allow a lender to drop the interest rate to as little as 2 percent to achieve the ratio, and if necessary, extend the term or amortization of the loan to as long as 40 years.

Below are some of the items you will need to submit for your request for a loan Modification: