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AnyLoans.com has been providing information to borrowers since 1999.  One of the most frequent questions we get asked about is Home Loan Modifications.

Wikia

In general:

You may qualify for a LOAN MODIFICATION if:

  • You own and occupy your home as your primary residence.
  • You are either current, at risk of imminent default, or behind in your mortgage payments, or are in foreclosure or bankruptcy.
  • The unpaid principal balance of the first mortgage on your primary residence is $729,750 or less (loan limits are higher on owner-occupied multi-unit properties).
  • You have verifiable source(s) of income to put towards a mortgage payment each month, even if that income has recently been reduced.
  • You can provide copies of your most recent tax returns and will sign an affidavit of financial hardship.
  • You have not previously modified your mortgage under the MHA program.
  • Note: Mortgages on second homes, vacant homes and investment properties are not eligible for modification under this program.

Check your financial institution for more information.

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