Feed: Loan Modification Help Center – Can a Loan Modification Save - AggScore: 14.0

Statistics show that divorce happens more often due to financial troubles than anything else.  Sexual challenges, family issues, health issues and other areas are all less important to a healthy marriage than solid financial footing.

One of the biggest areas of stress for any couple is buying a home and keeping it.  There are four major life decisions:  choosing a spouse; buying a home; picking a career; and having kids.  Buying a home involves incredible amounts of money, complete sacrifice on the parts of both spouses, a long term dedication and more.  The process of buying a home can be traumatic, because people are taking so many factors into consideration – schools, work, neighbors, etc.  After investing so much time and effort into choosing a home and putting up the money to buy it, it can be completely heartbreaking to see that home go into foreclosure.  Many marriages have ended because of the strain that foreclosure has brought on the people involved.  Spouses begin to question themselves and each other, all the time wondering why they find themselves in the midst of foreclosure proceedings.

Loan modifications are a way to avoid foreclosure, and a California  loan modification attorney can help you stay in your home for a very long time.  A loan modification is a renegotiation of your home mortgage loan where you and the lender agree to new terms.  A loan modification can occur in a number of ways:  your interest rate can be lowered; your adjustable interest rate can become a set interest rate at a much lower rate; you can get a principal reduction; you can have all of the late fees waived; you can have the length of your loan changed, say from a 30 year mortgage to a 40 year mortgage; and much more.

A loan modification attorney can sit down with you and discuss your options, as well as how the process works.  This will afford you the chance to learn about the process, learn more about your particular situation and give you some perspective as to your situation.  California loan modification attorneys work with people from all walks of life who are facing foreclosure and difficult financial situations.  You may be surprised to learn that you are not alone in your struggles or in your hardships.  These days, even corporate executives are declaring bankruptcy, and professional athletes are losing their homes.

With a loan modification, you can have the peace of mind that so many people are struggling to get these days.  The stock market is like a roller coaster and the real estate market is in freefall.  With a loan modification attorney working with you to get a California loan modification, you can get free from foreclosure and stay in your home.  While California loan modification attorneys are not counselors or psychologists, they can help your marriage a great deal by giving you the tools and the power to become free from the hardships you are currently in.  Your future could be much brighter with the help of a California loan modification attorney.

Loan Modification Help Center -- Visit us at http://www.loanmodificationhelpcenter.org for more about mortgage loan modification and loan modification programs.

How can I get qualified for a loan modification of a WAMU home equity line of credit?

I need to submit an application in order to be considered for a loan modification. Does anyone know what Debt/income ratio they look for? Please help!

Answer
They are not looking at your D/I. They are looking at your housing ratio. Modifications aren't generally given in regard to other bills, but to your total p & i payment, any escrow, home owners assoc. fees, etc; compared with your gross income. They will ask you for proof of any income reported. Most mortgage companies now qualify anyone with an H/I of >30%. They reduce interest rate on a temporary basis to get the H/I within an acceptable 30% H/I. If you're H/I with honest gross income is