Restructure Your Mortgage Payments


Take the test below to see if you are eligible for a loan modification:

If you can no longer afford to make your monthly loan payments, you may

qualify for a loan modification to make your monthly mortgage payment

more affordable. Millions of borrowers who are current, but having difficulty

making their payments and borrowers who have already missed one or

more payments may be eligible. Am I eligible for a Home Affordable

Modification?


Answer these questions:

Am I eligible for a Home Affordable Modification?

1. Are you the owner of a one- to four-unit home? check markYes            No

2. Do you have a loan owned or guaranteed by Fannie Mae or Freddie Mac?
 check markYes          No

3. Are you current on your mortgage payments?
“Current” means that you haven’t been more than 30-days late on your mortgage payment in the last 12 months. 		check markYes          No

4. Do you believe that the amount you owe on your first mortgage is about the same or less than the current value of your house?

You may be eligible if your first mortgage does not exceed 125% of the current market value of your home. For example, if your property is worth $200,000 but you owe $250,000 or less on your first mortgage, you may be eligible. The current value of your property will be determined after you apply to refinance. If unsure, click "Yes" for Question #4 and go to Refinance next steps.

 check markYes          No

loan document
If you check markyes to all of these questions you qualify

YOU QUALIFY FOR A HOME AFFORDABLE MODIFICATION

Based on your answers to all of the refinance eligibility questions, you may qualify for a Home Affordable Refinance. The next step is to gather the information you will need when you speak to a housing counselor or the servicer of your mortgage. This includes:

CHECKLIST

Information about your mortgage, such as your monthly mortgage statement and

Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.

Your most recent income tax return.

Information about any second mortgage or home equity line of credit on the house.

Account balances and minimum monthly payments due on all of your credit cards.

Account balances and monthly payments on all your other debts such as student loans and car loans.


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