Is a Home Affordable Modification right for me?


Home Affordable Modification is one of the federal government’s Making Home Affordable programs. The government’s goal for modifying your loan is to make your monthly payments 31% of your gross (pre-tax) monthly income.


You may be eligible to modify your home loan under the Home Affordable Modification Program, if:
your home is your primary residence the amount you owe on your first mortgage is equal to or less than:

– $729,750 for 1 unit
– $934,200 for 2 units
– $1,129,250 for 3 units
– $1,403,400 for 4 units

you are experiencing a financial hardship, such as a job loss, divorce or medical emergency
your current mortgage was taken out before January 1, 2009 your payment on your first mortgage (including principal, interest, taxes, flood and hazard insurance, and homeowners association dues, if applicable) is more than 31% of your current gross (before taxes and deductions) monthly income

Is your loan an FHA loan? If so, try modifying your loan under the federal government’s FHA Home Affordable Modification Program.Estimate your reduced home loan payment 1f you are not eligible.


Step 1: If you meet the minimum eligibility requirements, call us to request a Home Affordable Modification. We’ll review your situation over the phone, confirm that you meet the requirements for this program and then send you a financial information packet.

Step 2: Once you’ve received your packet, you’ll need to fill -out the forms and collect your documents. Sign where necessary and return the information to us as soon as possible. We can’t evaluate you for a trial modification without all of your required documentation.

Step 3: If you qualify for the program, you’ll enter a trial period of at least 3 months. Making all of your payments during this trial period will demonstrate that you can afford the modified payments and that they work within your budget.

Step 4: If you successfully make all of your Trial Period Plan payments, you will receive a Modification Agreement explaining the changes to your loan terms. After this document has been signed, notarized and returned to us, your modification will be officially made permanent.Get more details on the Home Affordable Modification Program.

There are no fees and no minimum credit requirements with the Home Affordable Modification Program, a part of the federal government’s Making Home Affordable program..


If we can’t find a modification option that works with your budget, you may need to consider options that involve leaving your home. If your home is currently worth less than the amount remaining on your loan, you may be able to sell your home in a short sale. We offer programs—such as the federal government’s Home Affordable Foreclosure Alternatives program—that provide a streamlined approval process and financial incentives to help you with relocation. By working with us to successfully complete a short sale, you may qualify for financing for future credit sooner than if you do nothing and allow your home to go through a foreclosure. In addition, you may be eligible for financial assistance of $3,000-30,0002 for moving, rental, and relocation expenses.


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