EXPEDITE your Affordable Loan Modification Process
Consolidate Your Debt to One Low Monthly Payment
Reduce the Balance to 30% to 60% of the Original
Pay Off as Fast as 12 Months
Housing counseling is REQUIRED for borrowers whose total monthly debts are very high in relation to their incomes.
It is voluntary for other applicants.
When you apply for a Home Affordable Modification, your servicer will analyze your monthly debts, including the amount you will owe on the new mortgage payment after it is modified, as well as payments on a second mortgage, car loans, credit cards or child support. If the sum of all of these recurring monthly expenses is higher than the program standar, you must agree to participate in housing counseling as a condition of getting a Home Affordable Modification ( Obama Housing Program).
