Rating
Exceed For Mac
Exceed For Mac
How To Approach Fannie Mae And Freddie Mac For A Mortgage Loan Modification
The federal government is offering an option for desperate homeowners. Under President Obama’s Making Home Affordable program, a homeowner can ask for a mortgage loan modification.
There are a few requirements that have to be met before the owner can ask for a modification. The homeowner has to have his or her mortgage insured through either Fannie Mae or Freddie Mac. Homeowners who do not meet this requirement have the option of participating if their mortgage lender has agreed to participate in the program.
Hector Milla Editor of the “Best Mortgage Loan Modification” website — http://www.BestMortgageLoanModification.net — pointed out;
“…Freddie Mac’s specific requirements for a mortgage loan modification are:
- The borrower is late on their mortgage payments;
- The borrower is making their mortgage payments on time, but the mortgage is no longer feasible because of a documentable circumstance;
- The borrower spends more than thirty-one percent of pre-tax income on mortgage payments;
- The borrower took out the mortgage on or before January 1, 2009;
- The mortgage is for a one-to-four unit property, and the borrower uses one of the units as his primary residence…”
Fannie Mae’s requirements are the same as Freddie Mac’s with two exceptions:
- The home being considered must be the borrower’s primary residence;
- The amount owed on the mortgage must meet or exceed the amount of $729,750.
How to Approach Fannie Mae and Freddie Mac
You actually don’t have to approach Fannie Mae directly. You can start by either talking to a housing counselor that has been approved by the Department of Housing and Urban Development (HUD) or talking to your mortgage lender. Check with your lender to make sure they are participating in the Make Home Affordable program.
Documentation
“…The program requires documents certifying your eligibility for a mortgage loan modification. Have these documents at hand when you speak to a counselor:
- Your most recent income tax return with all W-2s and schedules;
- Your two most recent bank statements;
- Your two most recent pay stubs or other documents that state the amount of earned income you receive;
- Your monthly mortgage statement, which must show information about the mortgage lender and the mortgage loan account number;
- Any information about other mortgages on your home, if you have more than one;
- The account balances and monthly payments due on your credit card or cards;
- The account balances and monthly payments on all other forms of debt, like student or car loans;
- Estimates of your monthly expenditures;
- A hardship letter documenting any extraordinary circumstances that have either raised your expenses or reduced your income…” added H. Milla.
Further information about how to get professional assistance with a mortgage loan modification by visiting; http://www.BestMortgageLoanModification.net
About the Author
Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.
|
|
MacCase 17 MacBook Pro / PowerBook Binder – Stealth Black Top of the line YKK zippersA Custom design to fit each size MacBook, PowerBook and iBookA semi-rigid structure utilizing dense foam over structural panelsFully padded wrap-around protectionYou can work in the Binder without taking the computer out of the case -Materials:… |
|
|
Noreve Leather Sleeve for 13 Notebook and Macbook Air -Sandy Vintage- Protect your device with one of the most luxurious cases in the international market. The Noreve brand was created in the capital of fashion & luxury, in St. Tropez, so expect only the best materials & fitting every time…. |
|
|
Noreve Leather Sleeve for 13 Notebook and Macbook Air $79.99 Protect your device with one of the most luxurious cases in the international market. The Noreve brand was created in the capital of fashion & luxury, in St. Tropez, so expect only the best materials & fitting every time…. |
|
|
Livescribe 2GB Pulse Smartpen (APA-00002) $159.99 Sleek ergonomic design with anodized aluminum housing, high speed infrared camera, 300 mAH rechargeable lithium ion battery, smartpen microphone, 3-D recording headset, and USB mobile charging cradle…. |
|
|
VL370M 37IN LCD TV 1080P 16:9 SRS $799.99 The VL370M 37″ Class (36.55 inch diagonal) is a beautifully styled, dark java brown finish and packed with features such as full 1080p resolution for razor sharp images and a 50,000:1 contrast ratio for deep blacks and bright, vibrant colors. SRS Trusurround HDTM completes the package bringing the action to life. Connections: HDMI – 3, Tuner – 1, 2 – Component, 2 – Composite, 1 – S-Video, 1 – VGA/… |
|
|
Hotel Giant 2 [Download] $4.99 … |
|
|
Phanton EFX Reel Deal Slots: Gods of Olympus $13.60 Visit the Realms of the Gods as you spin your way towards Mount Olympus and Zeus the King of the Gods. Visit the realms of Aphrodite the god of love and passion Poseidon the lord of the sea and Hades the master of the underworld in this gripping adventure to Olympus. Appease each of these Gods and you may just earn their key to the Gates of Olympus!With 22 never before seen slot machines each with… |
|
|
Hotel Giant 2 $0.72 Following its international success, Hotel Giant is back and bigger than ever. In Hotel Giant 2 you will create the hotel of your dreams and manage prestigious locations around the world. Your goal is to attract as many guests as possible and make sure they are satisfied throughout their stay. In order to meet your objective, you must develop a high standard of service, hire an excellent staff, de… |
|
|
RND Power Solutions black long sync & charge (6ft) cable made for Apple (iPad / iPhone / iPod). Our cable is APPROVED & Licensed by Apple, is Bumper and Case compatible, and meets/exceeds Apple’s high manufacturing/quality standards. $10.99 Getting frustrated with how short your original Apple cable is? RND Power Solutions black sync & charge Apple Dock to USB Cable allows you to extend your device by 6 feet (double the length of the standard cable) and offers full performance that enables you to sync and charge your devices. You can use this sync cable to connect your device with your Windows PC or Mac, allowing you to easily transf… |
|
|
SanDisk 4GB Memory Stick PRO Duo Flash Memory Card SDMSPD-4096-B35 $5.98 For optimum compatibility capture all of your digital storage needs with these high-performance memory cards. Ideal for digital cameras camcorders handheld gaming and mobile devices. Versatility includes recording and playback of DVD-quality video high-resolution digital images and CD-quality music. Storage Capacity: 4 GB For Use With: Electronic Devices Memory Card Type: Memory Stick Capacity Ran… |
Have A Question?
Are you looking for something but can not find it, or have a question for us? We would love to help you. Just fill out the form below and we will get back to you as soon as possible.
