Am I Eligible?
What are the loan modification plan qualifications?
To find out if you may be eligible for one of the FDIC loan modification programs, ask yourself the following 5 questions:
- Is the home under questions your primary residence? Yes or No (If this is an investment property a Loan Modification may still be possible)
- Is the amount you owe on your first mortgage equal to or less than $729,750? Yes or No
- Are you having trouble paying your mortgage due to an adjustable interest rate change or employment change? Yes or No
- Did you get your current mortgage before January 1, 2009? Yes or 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 or No
If you answered YES to at least 4 out of the 5 questions above you may likely qualify for the homeowner affordability and stability plan. To avoid Reno foreclosure and to find out more details please go to part 2 of "Am I Eligible?".
