Mortgage loan modification, contrary to popular belief, is no longer almost impossible to qualify for.
There isn't a big eligibility secret.
Of course you can never guarantee acceptance onto a loan modification program, but more recently it has become more accessible to everyone and there are some sensible things you can do to give yourself a better chance, regardless of which lender you are applying to.
Bear in mind that you can obtain specific requirements for your lender by calling their mitigation department.
Doing so will give you something of a head start when you sit down to complete your application for mortgage loan modification.
There are certain things, however, that will apply regardless of which lender you are seeking loan modification from.
For example, all lenders require a hardship letter.
Mail this letter with your application.
If your lender receives everything at the same time, it makes the process more convenient for them and will probably result in a quicker response time for you.
Another people is to ensure that your application is completely honest.
It must be entirely transparent.
Even the tiniest little doubt in the mind of your lender on just one point will cast the whole application into doubt and probably result in your being declined for mortgage modification loan.
You should double check the application and the hardship letter several times before sending.
Tailoring your application to the specific requirements of your lender will increase your chances of being accepted.
The hardship letter is your real opportunity to explain to them how it is that you meet the criteria of the ideal candidate for mortgage loan modification.
Essentially, your chances of acceptance are vastly increased by spending some time on the application.
Consider this time an investment into the future of your home.