HAMP Federal Loan Modification Plan Stops Foreclosure Immediately - Details on How It Works
The HAMP federal loan modification program is designed to stop foreclosure and give homeowners the chance to save their home.
If you are facing the possibility of losing your home, you can stop your bank from proceeding with the foreclosure by specifically requesting that you be considered for this government program.
If your lender is participating in this stimulus program, and over 90% of banks are, they agreed to review every borrower who requests consideration for HAMP and they also agreed under the federal guidelines not to proceed with a foreclosure sale while the review is in process.
Of course it is extremely stressful when your home is on the line, but now is the time to take action and be very determined when speaking with your lender.
Even if you have already applied for a loan modification, you are allowed to re-apply as long as the information you are providing is updated and different than the original.
The key is to not wait any longer, get on the phone and call you bank immediately.
Specifically request that you be reviewed for HAMP and explain that you have new, updated financial information to give them.
Make certain that you tell them that your home is scheduled for foreclosure, and that you want this postponed while your updated loan modification application is being reviewed.
Of course, you must really be prepared to give your bank new, updated financial information so that they can review your situation again - and ideally this time around you will prove that you fit right into the HAMP guidelines for approval.
The only way to have the best chance of success is to complete your financial statement showing the correct amount of monthly income, monthly expenses and bank balances.
If you are not sure just how much you need to show, then you may want to use a loan modification software program that will do all the calculations for you automatically.
This helpful tool actually mimics that standard formula and will show you immediately where you may need to fine tune your figures.
The HAMP federal loan modification plan is designed to stop foreclosure - don't miss your chance to qualify for this government program.
A low, affordable mortgage payment could be the answer that will stop foreclosure and allow you to keep your home.
Thousands of homeowners have already been helped, why not you?
If you are facing the possibility of losing your home, you can stop your bank from proceeding with the foreclosure by specifically requesting that you be considered for this government program.
If your lender is participating in this stimulus program, and over 90% of banks are, they agreed to review every borrower who requests consideration for HAMP and they also agreed under the federal guidelines not to proceed with a foreclosure sale while the review is in process.
Of course it is extremely stressful when your home is on the line, but now is the time to take action and be very determined when speaking with your lender.
Even if you have already applied for a loan modification, you are allowed to re-apply as long as the information you are providing is updated and different than the original.
The key is to not wait any longer, get on the phone and call you bank immediately.
Specifically request that you be reviewed for HAMP and explain that you have new, updated financial information to give them.
Make certain that you tell them that your home is scheduled for foreclosure, and that you want this postponed while your updated loan modification application is being reviewed.
Of course, you must really be prepared to give your bank new, updated financial information so that they can review your situation again - and ideally this time around you will prove that you fit right into the HAMP guidelines for approval.
The only way to have the best chance of success is to complete your financial statement showing the correct amount of monthly income, monthly expenses and bank balances.
If you are not sure just how much you need to show, then you may want to use a loan modification software program that will do all the calculations for you automatically.
This helpful tool actually mimics that standard formula and will show you immediately where you may need to fine tune your figures.
The HAMP federal loan modification plan is designed to stop foreclosure - don't miss your chance to qualify for this government program.
A low, affordable mortgage payment could be the answer that will stop foreclosure and allow you to keep your home.
Thousands of homeowners have already been helped, why not you?
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