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Follow on Google News | Home Affordable Loan Modification Plan - The US Government has Announced a Major ExpansionBy introducing the Home Affordable Loan Modification Plan the Obama administration has taken the next major step in expanding coverage of the federal loan modification program to cover a much broader range of financial circumstances.
By: Refinanceitt The Home Affordable Loan Modification Plan is directed to homeowners who have been making mortgage payments, but who are unable to refinance their mortgages because their homes have become "upside-down" Click Here for Free Counseling on Loan Modification >> http://www.refinanceitt.com/ 1. You aren’t over 30 days late in paying your mortgage payments for the past year but this can be adjudicated by showing personal financial hardship. 2. Your home is your primary residence. 3. This is now available for all mortgages not just loans through written under Freddie Mac or Fannie Mae are eligible but this is rapidly being changed and soon most mortgages that qualify will be eligible. You must have had the mortgage prior to 1/1/2009. 4. Tour mortgage cannot be more than 105% of the home’s value. 5. You need some proof of your earnings to show that you are financially able to make the refinanced mortgage payments. 6. Home Affordable Loan Modification Plan applies to first mortgages only and the principal balance can’t exceed $727,500.00 This loan modification plan ( http://www.refinanceitt.com/ Due to this expansion of the Home Affordable Loan Modification Plan many more homeowners are not qualified for loan modification and this is good news for everyone. # # # At RITT we are committed to helping you, our valued customer find solutions for managing your debt effectively during these interesting economic times. Visit http://www.refinanceitt.com refinance your mortgage, auto refinancing and loan modification. End
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