What Loan Modification Programs Are Available?


  • There are many different loan modification programs available depending on the type of loan you have.
  • If you can apply for the Obama Plan, that would be the best loan modification program as your arrearages are put on the back of the loan, your interest rate is reduced and you will pay 31% of your gross income for principal interest, taxes and insurance.
  • If the Obama Plan is not available because of the type of loan you have, there are many other options such as an internal modification, a re-payment plan over a period of time and Chapter 13 bankruptcy.

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