Digital News Report – Thousands of Americans are taking advantage of the loan modification program created by the Obama Administration. It is believed that between 7 and 9 million homeowners are eligible for the program.
The program is free to the homeowner and there are incentives for the bank to follow through with a modification. Candidates need to be in financial trouble and owe more on the house than it is worth. There is also a plan to help homeowners who have lost their job.
On Wednesday through Friday there will be an event in New York to help homeowners. Beginning April 28th and running through April 30th at the Nassau Veterans Memorial Coliseum, residents will be able to meet with their lender’s representative or a HUD official.
Bring your mortgage statements, your bank statements, pay stubs, and estimates of your expenses. Homeowners can request a modification at that time.
More events like this are planned around the country and throughout California.
By: Tina Brown