Obama’s New Loan Modification Plan Guidlines: “Making Home Affordable” Act to Lower Payments, Prevent Foreclosures

Obama’s New Loan Modification Plan Guidlines: “Making Home Affordable” Act to Lower Payments, Prevent Foreclosures

The Obama administration’s Making Home Affordable (MHA) plan went into effect March 4, 2009. That means troubled homeowners may be able to get their lenders to adjust their mortgage loan terms and decrease their monthly payments. Overview of Making Home Affordable With the current economic recession, many people are suddenly unemployed or forced to take …

How to Apply for a Home Mortgage Loan: Mortgage Loan Documents Needed to Buy a New Home, Applying for Loan

How to Apply for a Home Mortgage Loan: Mortgage Loan Documents Needed to Buy a New Home, Applying for Loan

Home mortgage loan lenders typically have strict lending requirements. This is particularly true for traditional fixed thirty-year home mortgage loans. In order to comply with the lender’s policies, the potential homeowner should gather documents and make appropriate copies for the mortgage lender or bank files. Home Mortgage Loan Application Each lender will have its own …