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loan modification what is specifics to achieve

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July 12 2009 - Windermere
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The basic qualifications based on HAMP guidelines (Homeowner Affordability Modification Program are located here: http://www.makinghomesaff ... lity.html .However, these are government "suggested guidelines" and no bank is required to adhere to them.  If they participate in the program there are financial incentives for every phase including taking your application, doing your temporary modification, your completion, 1 year anniversary, etc.  Most lenders can be coxed into qualifying you at the 31% Gross Income requirement which will in all probability lower your payment.  But there are many things to watch out for.


Here are the basics.  Every homeonwners case is unique:
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September 28 2009
 
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  • Asked by rene raaberg
  • In Mortgage
  • July 12 2009
Mortgage Rates
 
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