O'Brian & O'Brien Associates

Home Affordable Loan Modification

Loan Modification is an option in which the lender assist struggling homeowners by altering the present terms of a borrower's original mortgage agreement in the following areas;     

• Interest rate - ARM to Fixed
• Terms - payment period up to 40 years
• Balance - principal balance, past due, fees

Loan Modification was designed to help keep struggling homeowners stay in their homes and prevent foreclosure.

Note: A Loan modification is always done at the lender's
discretion although the Federal Government has been actively
encouraging lenders to modification mortgage loans. 

Am I Qualified

A homeowner may qualify for an Affordable Loan Modification if their mortgage falls under the following guidelines:

    1.  The home must be your primary residence.
    2.  The amount you owe on your first mortgage must be equal 
          to or less than $729,750.00.
    3.  You must demonstrate that you are having trouble paying 
         your mortgage.
         For example, have you had a significant increase in your 
         mortgage payment OR reduction in your income since you 
         got your current loan OR have you suffered a hardship that 
         has increased your expenses (like medical bills)?    
    4. Your current mortgage was obtained before January 1, 2009.
    5. Your payment on your first mortgage (including Principal, 
         Interest, Taxes, Insurance and Homeowner's Association 
         dues, if applicable) are more than 31% of your current 
         gross income.         
          
If you answered YES to these questions, then you may qualify for a Affordable Loan Modification.

In just a few simple steps, you'll be on your way to contacting your mortgage lender/servicer with confidence.

We have made processing your loan modification easy and
affordable and can be done in the comfort of your home. 

Click here to access the Do It Yourself Loan Modification Processing Tool.