Legal Loan Relief
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California Homeowners Can Stop Foreclosure with Loan Modifications, Forensic Loan Audits and Negotiated Mortgage Loan Modification Terms.
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07 Jun 10 Qualifying for the Federal Loan Modification Program

The last thing distressed homeowners need is more run around when they apply for a loan modification plan. The Obama administration has extended mortgage relief with the new federal loan modification program. One of the concerns people have is loan modification eligibility. Not every borrower will qualify so before you risk losing your house, find out if you qualify for the federal loan modification program. These home loan relief initiatives were created to help struggling homeowners, overcome financial hardships with foreclosure preventions with a loan workout.

Are You Eligible for a Government Loan Modification Plan?

Are You Eligible for Obama’s Loan Modification Program? To be eligible for mortgage loan modification options under the federal initiative, borrowers should be able to meet the following basic requirements:

o The home for which the loan being modified must be the primary residence of the applicant.

o The value of the present home mortgage cannot exceed $ 729,250 for a 1-unit property.

o The existing home loan should have been approved before 1st January, 2009.

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