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What are the requirements to qualify for a loan modification?

No matter if you are current or delinquent, anyone who has a financial hardship which is hindering them from making their mortgage payment may be eligible for a loan modification.

Listed below are a variety of financial hardships that may qualify you for a loan modification.

• Mortgage interest rates or payments that have recently adjusted or will adjust in the near future
• Negatively Amortizing Mortgage (NegAm) that adjusts monthly
• 30-60 days behind on existing mortgage payments
• Self employed during tough economic times
• Decrease or loss of home equity
• Nearing or actively involved in foreclosure proceedings
• Experienced significant reduction in income
• Encountered additional expenses due to divorce/separation
• Recent death or other family hardships that have placed a financial strain on your situation
• Severe medical issues or disease

       *The final decision on qualifying for loan modification is determined by your lender(s).