Countrywide Loan Modification – Obama Wants Countrywide to Modify Mortgages
If you are over your head in your Countrywide home mortgage, a Countrywide Loan Modification would fit the bill: The Home Stimulus bill, that is. President Obama has signed a bill that allocates 75 billion dollars to encourage approved lenders to rework loans for homeowners who are facing imminent foreclosure. Countrywide is an approved lender on this list, fortunately for you.
President Obama and his administration want Countrywide to modify your mortgage so much that the Treasury Department is giving them 00 for every existing loan that they rework. Their goal in the new loan is to achieve a lower house payment that is less than 31% of the homeowner’s gross monthly income.
But, that isn’t all. President Obama has asked that the approved lenders actually expand their staff to accommodate homeowners faster and more efficiently. If you qualify, he wants you to be sure and be served, allowing you to stay in your home.
Countrywide has a store of resources that the government has put at their disposal through this bill to help you straighten up your mortgage mess. They can even forgive those mounting late fees. And, consequently, if you are not just late, but in default on your mortgage, it will not prevent your approval for this federal program. If you are in default, you probably need a loan modification more than anyone, because it is almost impossible to accumulate the required lump sum necessary to bring the loan up to date without this program.
Foreclosure is a nightmare, and if you can avoid it, it is in your best interest and the best interest of your family. Countrywide does not want to foreclose on your home, either, if avoidable, because it is expensive and time-consuming for them. And, President Obama does not want you to lose your home, either. He wants very much for you to receive a Countrywide Loan Modification, if you qualify
