| For most homeowners, the thought of having to file | | | | residence, you might not qualify for this program. |
| bankruptcy is one of the most terrifying things one can | | | | Another factor to look at when applying for this |
| experience. If you're having trouble paying your | | | | curriculum is your payment history. If you have been |
| mortgage because of outside factors, you might able | | | | making the payments to your mortgage on time and in |
| to qualify for a loan modification program. The FHA | | | | the full amount, then you will look better to your lender |
| loan modification program has set forth to help | | | | when applying for your modification. If you haven't |
| consumers refinance their mortgage before they go | | | | been making your payments, you might find it hard to |
| into foreclosure. With this plan, you will be able to lower | | | | qualify. Your credit score will also come into play when |
| the interest rate on your mortgage and even lower | | | | you are applying. Make sure that you have a good |
| your monthly payment to something manageable. | | | | credit score or are willing to take a hit on an interest |
| However, there are several factors that will decide | | | | rate. This can save you from loosing time. |
| whether or not you qualify for this program. Here is a | | | | All of these factors will determine whether or not you |
| list of tips to help you apply and qualify for this new | | | | will be able to qualify for this plan. The best thing to do |
| plan. | | | | is get all of your income tax returns from the previous |
| The first thing you need to determine when applying to | | | | years together along with your current mortgage |
| this program is whether or not your loan was taken | | | | documentation. When you have all of this together, |
| out from your lender before January 1, 2009. If your | | | | contact your lender and see if you can qualify. They |
| loan was taken out before this date, then you could be | | | | will be willing to take a look at all of your information |
| a good candidate for this plan. You also need to be | | | | and tell you whether or not you are a good candidate. |
| living in the home that you are going to refinance and | | | | Do not wait to make a difference in your life. Act fast |
| have it listed as your primary residence. If you are not | | | | and start saving your money. |
| living in the home and it is not listed as your primary | | | | |