This is probably the most asked question when the topic of Obama's Home Stimulus Plan is brought up. Can it save my home? Millions of American homeowners are struggling to afford their mObama mortgage rescue plan payments, many of which are actually facing foreclosure. You need answers and you need them now! The home stimulus plan can save your home! The loan modification packages have already saved hundreds of thousands of homes from foreclosure and are making great strides in stopping the housing crisis. This may be the only chance you have to save your home; the time to act is now! So where do you begin?
Step 2: Kiss Worry Goodbye! Fear is real. Fear can take a problem that can easily be solved, and turn it into a gigantic obstacle that will guarantee failure if it isn't dealt with. We worry about the things we fear. The good news about worry and fear is that once again, it's a matter of perspective. And in this case, when you take a realistic look at your situation, you'll realize there are plenty of reasons for you to have hope. For starters, consider this ... you are not alone! There are enough other Americans in the same situation you're in to make helping you turn things around a priority. It's in everyone's best interest that you survive. Which is why your government has created a new program, a "two-pronged attack" to help as many "at risk" homeowners as possible find a way to keep their home.
Second Lien Removal Payments:
To reduce the debtor's overall indebtedness and improve loan performance, additional incentives will be provided to extinguish junior liens on homes with first-lien loans that are modified under the Plan. Government Loan Plans:
FHA, VA and rural housing loans will be addressed through standalone modification Plans run by those agencies. FHA's Hope for Homeowners refinancing Plan will also be included in a parallel incentive Plan.
The next part of this series deals with financial calculations of the Net Present Value NPV and how it relates to receiving a loan modification under the Obama loan modification program. The next article can most likely be missed without affecting your chances to receive a loan modification. If you want to begin back at the begging of this article series you can start at Part 1 of this series.
Contact your lender, do your homework! Get all the requirements and documentation that are needed and make sure to fill them out completely and accurately! The sad reality is many people are denied simply because they rushed through the application process and either neglected to provide all required information or they were inaccurate with the information they did provide. Don't be one of these people! This may truly be your last chance to save your home! You need to be diligent!
Step 2: Kiss Worry Goodbye! Fear is real. Fear can take a problem that can easily be solved, and turn it into a gigantic obstacle that will guarantee failure if it isn't dealt with. We worry about the things we fear. The good news about worry and fear is that once again, it's a matter of perspective. And in this case, when you take a realistic look at your situation, you'll realize there are plenty of reasons for you to have hope. For starters, consider this ... you are not alone! There are enough other Americans in the same situation you're in to make helping you turn things around a priority. It's in everyone's best interest that you survive. Which is why your government has created a new program, a "two-pronged attack" to help as many "at risk" homeowners as possible find a way to keep their home.
Second Lien Removal Payments:
To reduce the debtor's overall indebtedness and improve loan performance, additional incentives will be provided to extinguish junior liens on homes with first-lien loans that are modified under the Plan. Government Loan Plans:
FHA, VA and rural housing loans will be addressed through standalone modification Plans run by those agencies. FHA's Hope for Homeowners refinancing Plan will also be included in a parallel incentive Plan.
The next part of this series deals with financial calculations of the Net Present Value NPV and how it relates to receiving a loan modification under the Obama loan modification program. The next article can most likely be missed without affecting your chances to receive a loan modification. If you want to begin back at the begging of this article series you can start at Part 1 of this series.
Contact your lender, do your homework! Get all the requirements and documentation that are needed and make sure to fill them out completely and accurately! The sad reality is many people are denied simply because they rushed through the application process and either neglected to provide all required information or they were inaccurate with the information they did provide. Don't be one of these people! This may truly be your last chance to save your home! You need to be diligent!
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