Countrywide Reo Forms - Loan Modifications With Countrywide
Loan modifications with Countrywide are getting more available due to some additional loan workout options that offer a lower monthly payment for struggling borrowers.
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Feb. 18, 2011 - PRLog -- Countrywide Reo Forms
Loan modifications with Countrywide are getting more available due to some additional loan workout options that offer a lower monthly payment for struggling borrowers. The Obama federal loan modification plan is one option for homeowners to consider, as well as several programs that the bank has available to borrowers facing financial hardship. Do you know which one you might qualify for? Here is some information to help you get started.
Loan modifications with Countrywide involve preparing an application and providing proof of your income and assets. This is easily done by using standard financial statements that are simple to complete. Basically, you just fill in the blanks with your specific information, such as your monthly bills and miscellaneous expenses. You list your gross monthly income (before taxes) and disclose any assets, like savings or retirement accounts. A word of caution-borrowers who show a lot of untapped assets in the bank not be deemed to be in a financial hardship situation. Get Internet #1 - Countrywide Reo Forms @ http://realestatecure01.webs.com and change your financial life forever!
Loan modifications with Countrywide under the Obama federal plan require an application and income documentation as well. Under this program, a new modified payment is designed to equal only 31% of your gross monthly income. This new lower payment is arrived at by using a combination of methods-lowering the interest rate to as low as 2%, lengthening the term to 40
years, and deferring some principal balance to meet the target payment. You may qualify for this plan if you live in the home as your primary residence and your loan was originated prior to January 1, 2009. Your current monthly payment must equal more than 31% of your income and the loan amount cannot be greater than $729,750.00.
Loan modifications with Countrywide are not for every homeowner. You must be able to prove that you meet certain approval criteria for all programs. This means that your application paperwork is completed accurately to demonstrate your ability to pay and maintain the new payment now and in the future. The secret to success is having a general understanding of the approval guidelines so that you can prepare your application correctly to meet those guidelines. It is not hard to do when you follow simple, step by step directions provided in a loan modification handbook.
If you are a struggling homeowner wondering about how to apply for loan modifications with Countrywide, you should get started right away. Many of the programs are only available for a limited time and have limited federal funding. You don't want to miss out on the chance to get the affordable home mortgage you need to stay in your home. It's time to get serious about saving your family's home-begin today to learn and prepare your Countrywide loan modification application. Get Internet #1 - Countrywide Reo Forms @ http://realestatecure01.webs.com and change your financial life forever!
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