Homeowners facing delinquent mortgage payments or at risk of becoming delinquent, may be eligible for part of the $75 billion stimulus plan that President Obama has implemented to provide affordable home loans.  The program is called Home Affordable Modification and will seek to modify loans for homeowners who can meet certain approval guidelines.  If you need help to afford your mortgage, learn just what is required to apply and qualify for this aggressive plan.

The first step for an interested homeowner is to find out if you meet the basic criteria so that your application will be accepted.  Can you answer yes to:

1. Live in the home as your primary residence?
2. hummingbird loans 24 month loans direct lenders originated prior to January 1, 2009?
3. hummingbird loans where to get a loan with no credit amount less than $729,750 for 1 unit properties
4. Current payment equals more than 31% of monthly gross income? (including property taxes, homeowners insurance and any homeowner dues)
5. Facing a financial hardship situation?

Once you pass this initial questionnaire, you will be asked to provide information about your income, expenses and assets.  The process involves completing a simple financial statement that details your income and your monthly bills.  You will be asked to provide:

• Proof of your income-paystubs, tax returns, award letters, rental agreements, etc.
• 2 months bank statements
• Hardship letter explaining your financial -Affidavit of Hardship
• Financial statement detailing your income and expenses

Of all this paperwork, the most critical is your financial statement.  This is really a snapshot that shows the lender if you are a good candidate for the Obama Federal Loan Modification plan.  What is the bank looking for?  Basically, they need to verify that you fit within the program guidelines and will be able to afford and maintain the new modified payment.  The secret to get approved is to know how to prepare your financial statement, make any necessary adjustments to your budget to qualify and know how to compute your debt ratio to meet the 31% target payment.

You don't want to miss out on this federally subsidized program because you did not understand how to prepare you application.  Take the time to learn the basics and your chances for approval will increase greatly.  Over 250,000 homeowners have already worked with their lenders to get a Home Affordable Modification.  If they did it, so can you!

You can get the help you need to apply and qualify for a hummingbird loans online loans direct lenders only modification by ordering and downloading the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. Learn how to apply and qualify for the Obama federal program too. Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide.