| If you are trying to get a loan modification with Bank | | | | this plan if: |
| of America but worried about beating the clock that's | | | | |
| ticking towards foreclosure, good news. The lender | | | | 1. You live in the home as your primary residence |
| has announced an extension to it's moratorium on | | | | 2. Your loan was originated prior to January 1, 2009 |
| foreclosures for another two weeks, until April 30th. | | | | 3. Your loan amount is under $729,750 |
| This means that you have some more time to | | | | 4. Your current payment equals more than 31% of |
| contact the lender and apply for a loan modification | | | | your gross monthly income (including taxes, insurance |
| that may save your home. | | | | and homeowners dues) If you answered yes to the |
| The Bank of America loan modification program is | | | | above, you should begin your application process |
| being implemented using the federal governments | | | | immediately. You will have to provide certain forms, |
| program, Home Affordable. The lender needs more | | | | including a financial statement that details your income |
| time to get set up so they can begin accepting | | | | and expenses, a financial hardship letter, and proof of |
| applications from homeowners who may be eligible | | | | your income. Your eligibility will be determined in large |
| for this aggressive loan workout plan. The Home | | | | part by the paperwork you provide, so make sure |
| Affordable loan modification program is Obama's | | | | that you know how to complete your application |
| federally subsidized rescue program designed to offer | | | | correctly so that it has the best chance of meeting |
| help to approximately 5 million borrowers. | | | | the approval guidelines. A Bank of America loan |
| How do you know if you might qualify for a Bank of | | | | modification may be the solution you need to stay in |
| America loan modification? You may be eligible for | | | | your home-make sure you do it right! |