FHA Secure Loan Modifications Option Has been canceled.....However, The Making Home Affordable may be just the answer for you
The FHASecure 2007 program was adopted by the Bush Administration and is no longer a viable avenue for homeowners looking to refinance. Please read below to see if you may qualify for the Making Home Affordable Modification Program.
Read more about President Obama's making Home Affordable Modifications Program...
Making Home Affordable Modification Program is an OK loan modification option that can give creditworthy homeowners how are current or may be a little late on their monthly mortgage payments.
To Qualify for the Home Affordable Modification Program, homeowners wishing to modify their current home loans must meet the following requirements
The home in question must be your primary residence.
The amount you owe on your first mortgage must be equal to or less then $729,750.
Must currently be having difficulty paying your first mortgage, such as mortgage amount has gone up, monthly income has gone down, or other hardship.
Current mortgage valid before Jan. 1, 2009.
Your current first mortgage(including all fees) must be more than 31% of your current gross income.
If you have all of these requirements you may be eligible for Home Affordable Modification! Your next step is to gather all of your current loan information. Such as your most recent monthly mortgage statement, recent pay stubs or proof of other income, statement for any savings or other assets, current tax return, second mortgage or home equity loan statement (if applicable) credit card information, any other information about other loans such as car or student loans and a completed Hardship Affidavit
Now....Call today for a free pre-approval and let's get you out of your adjustable rate mortgage!
