Request A Home Affordable Modification

Home Affordable Modifications are part of the federal government's Make Home Affordable program to help Americans in danger of losing their homes get relief and avoid foreclosure. This modification will revise the terms of your home loan in order to help you get back on top of your payments and stay there. This is part of a broader program designed to stabilize home prices and help homeowners regardless of who issued or owns the mortgage. By requesting a home affordable modification, you can modify you home loan terms and conditions. You can get a lower mortgage rate and make your home loan payments more affordable.

About Make Home Affordable

The Make Home Affordable program is an important part of the Obama government's strategy to help American homeowners avoid foreclosure, stabilize housing markets in the United States and promote the American economy. How Can You Request a Home Affordable Modification at Makinghomeaffordable.gov?

• Requirements
1. You need to have a computer with internet access.
2. You must be the both the owner and occupant of a one to four unit home.
3. Your home must meet a certain minimum market value requirement.
4. You first mortgage must go back to at least 1 January 2009 or earlier.
5. You must have a monthly mortgage payment greater than 31% of your monthly pre-tax income.
6. You must be able to document how financial hardship has made your mortgage payments unaffordable to you.

• Step-By-Step Guide
1. Go to the Making Home Affordable website at: www.makinghomeaffordable.gov.
2. Go to the drop down menu labeled "Get Assistance," and click on "Request a Home Affordable Modification."
3. Print out and complete the four forms required to request a modification.
4. Gather Proof of Income.
5. Send your materials in to your mortgage servicer.

Related Links

1. Making Home Affordable Website: http://www.makinghomeaffordable.gov
2. Making Home Affordable Program and Home Affordable Modification Program FAQ: http://www.justice.gov/ust/eo/public_affairs/consumer_info/docs/HAMP_FAQs.pdf
3. Request a Home Affordable Modification Website: http://www.makinghomeaffordable.gov/get-assistance/request-modification/Pages/default.aspx