Francine Willingham, Willingham Real Estate  

Expert assistance and advice in real estate short sales, lender negotiations and the Home Affordable Foreclosure Alternatives Program

Home Affordable Modifications

If you can no longer afford to make your monthly loan payments, you may qualify for a loan modification to make your monthly mortgage payment more affordable. Millions of borrowers who are current, but having difficulty making their payments and borrowers who have already missed one or more payments may be eligible.

Am I eligible for a Home Affordable Modification? Answer these questions:

Is your home your primary residence?
   Yes
   No
   

Is the amount you owe on your first mortgage equal to or less than $729,750?
   Yes
   No
   

Are you 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)?
   Yes
   No
   

Did you get your current mortgage before January 1, 2009?
   Yes
   No
   

Is your payment on your first mortgage (including principal, interest, taxes, insurance and homeowner’s association dues, if applicable) more than 31% of your current gross income?
   Yes
   No
   

First name:
   

Last name:
   

Email address:
   

Phone (optional):
   

By clicking SUBMIT, your answers will be analyzed, and you will be directed to the next steps for the Home Affordable Modification or to other options for additional help.

This site can help you determine if you are eligible, but only the servicer of your loan can tell you if you qualify. To qualify, you will generally need to show that you have adequate income to make the reduced payments on an ongoing basis and that modification is an appropriate option given the characteristics of your mortgage and the value of your home.