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Are there definite parameters for the Obama interest modification program? I am told I qualify

Profile picture for FLBeloved
What are the %'s that are required, as income, expenses, etc. There was something about 33%??
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June 17 2011 - Central
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Profile picture for Military Loan Expert
Make sure your hardship documentation is very very good!
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June 17 2011
Profile picture for nononoononoddo
Nothing is set in stone.  The only advice i can give you is that when you submit your paperwork to the bank stay on top of the bank and keep your documents (pay stubs, tax returns, hardship, 4506T form, DODD FRANK forms anything else that banks requests from you going to the bank. Banks will use that as an excuse not to give you a loan modification.  Staying on top of the bank is where many borrowers and loan modifications companies fail to do.  Click on my name and follow my news on loan modifications.  Good Luck! 
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June 17 2011
Profile picture for daveskow
1st step is to see if your loan is eligible ..use link in previous post to check the freddie and fannie sites ...if loan isnt eligible , contact present lender directly to inquire about options 
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June 17 2011
Profile picture for wetdawgs
Qualified is the first step, then the lender has a lot of discretion.  You can walk through the questionnaire on the official website here.
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June 17 2011
 

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QuestionAre there definite parameters for the Obama interest modification program? I am told I qualify
  • Latest answer by David Stein
  • June 17 2011
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