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How to Get a Countrywide Loan Modification


Source : http://mixkore.com

Getting a Countrywide loan modification is easier than ever. The lender has started a streamlined approval process and their Debt to income requirement has fallen to 34%. If you're looking to get a countrywide loan modification, keep the following points in mind to make your chances for approval rise and to take a load of stress off your shoulders filling out the paperwork and waiting to get a response. You're statistically more likely to be approved if you know Countrywide's requirements first. A few lenders do have the information online, but in most cases you will need to call and speak to their loss mitigation department to get the requirements. You can also get the details on their modification programs from the loss mitigation department. You can either choose to handle your countrywide loan modification yourself, or you may hire some assistance. Under the Home Affordable Modification Program all homeowners attempting to get a modification are eligible to speak with an FHA representative and to possibly have them negotiate with Countrywide. There are also modification companies available to give you the same services as the FHA reps, but for a fee. These are useful if the wait for an FHA representative is too long. It's recommended to get assistance when trying to get a modification from Countrywide. You don't just have to fill out the application for modification, you also have to write a hardship letter to explain why you need to have your Mortgage modified. The hardship letter may seem intimidating, but there are plenty of sources on line for samples and tips on writing it. If you use some sort of specialist, they will help you write up the letter.

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