THE FEBRUARY 2009 PRESIDENT OBAMA HOME AFFORDABILITY LOAN MODIFICATION PROGRAM


In early 2009, President Obama committed over $75 billion to help to help rescue the failing housing market and rework troubled mortgage loans.

Although exciting and much needed, his ambitious modification plan has left lenders overwhelmed with inquiries from homeowners desperate to participate.

Banks are struggling to review and implement the many layers of this program. Because it is voluntary, a lender is also free to make their own modification rules, meaning you can be denied even if you fit the Obama guidelines.

Unfortunately for the consumer, no uniform set of modification guidelines exists. The exact same borrower may qualify at one bank and be denied at another.

 

AM I ELIGIBLE FOR A LOAN MODIFICATION?




If you can answer YES to these questions, you are entitled to apply for a modification, however there is no guaranty you will qualify for lender approval.

  • Is the loan you want to modify associated with your primary residence?
  • Is the amount you owe on your first mortgage equal to or less than $729,750?
  • Have you suffered a hardship (like job loss or medical bills) or faced a significant increase in payment that has made it difficult to keep up with your mortgage?
  • Is your first mortgage payment (including principal, interest, taxes and insurance) more than 31% of your gross monthly household income?

DO I NEED AN ATTORNEY TO MODIFY MY LOAN?



The answer is NO, you are not required to have legal assistance when submitting your modification request.

It is a proven fact, however, that borrowers who apply without proper representation are met with resistance, misinformation and poorly informed customer service. Consumer groups are reporting that despite thousands of applications submitted each day, only a small percentage of homeowners are approved to modify. Borrowers seeking help directly from government housing offices are being compared to Hurricane Katrina victims still waiting for aid.

Many questions on the application are vague or confusing. As a borrower you have no way of knowing what information will increase you chances of approval and what can lead to denial. At Aiossa and Associates, we do know.

The benefits of a successful loan modification are staggering. It can literally mean the difference between saving a home and losing it. Our mortgage attorneys are fully versed in all provisions of the federal affordability and stability act. And our 98% approval rate speaks volumes about the value of legal representation during the process.


98% LOAN MODIFICATION APPROVAL RATE AND MONEY BACK GUARANTEE


  • 98 OUT OF 100 CLIENTS WHO PASS OUR INSTANT ELIGIBILITY THRESHOLD TEST ACHIEVE A PERMANENT LOAN MODIFICATION WITH AIOSSA AND ASSOCIATES
  • IF YOU ARE RECOMMENDED FOR A MODIFICATION BUT YOUR LENDER ULTIMATELY DENIES THE APPLICATION, WE WILL REFUND 100% OF YOUR LEGAL FEES
  • EVEN IF YOU DO NOT MEET THE OBAMA AFFORDABILITY GUIDELINES, WE WILL WORK WITH YOU TO RESTRUCTURE YOUR INCOME AND DEBT PROFILE SO YOU HAVE THE BEST CHANCE OF MANUAL SUBMISSION APPROVAL