Plan A

Federal Bailout-Owner Occupied

FHA-Hope/Secure

Actual Steps to Loan Modification

Questions to ask yourself to see if this is the program for you.

             Do you live in the home or is it your permanent residence?

             Is your credit score above 580?

             Is your debt to income at 38% or less?

If your answer to ALL of the above questions is yes.  THIS IS THE PROGRAM FOR YOU.  If you answer no to any of the above questions, please go to PLAN B

Steps to getting started.

1          Fill out credit authorization and pay $25 for credit check.  We don't know if your loan will be a credit modification or new loan.  The credit check will tell us what we can do.

2          Upon review of the credit report a loan officer will contact you and discuss options.

3a        Loan modification-  I can't tell you why, but millions of borrowers can confirm that lenders generally will not talk directly with borrowers.

Under a loan modification you will need to provide the following:  All of these things we either can assist you with, or provide the form for you to use.

Authorization for us to contact your lender

Hardship Letter

Pay Check Stubs

Recent Bank Statement

Copy of Payment Coupon

Brokers' opinion of Value with current comparable sales.

3b        If it is determined that a new loan is the right path an application will be taken.

This process is just like every loan that you have ever applied for.

$250 application fee-will be applied to closing costs at end.

$250 appraisal fee

In addition we have negotiated lowered escrow fees and discounts on title policies.

4          Your loan officer will be your contact but do not wait for them.  Call, Call, Call please keep in contact, provide the paper work required.

Short sweet and easy to do.  Not really but it can be done and has to.