There are different categories of mortgages that qualify for modification under the Administration Housing Plan.
There is a program for mortgages that are still current, and a different one for mortgages facing foreclosure.
The story linked to above has a FREE online questionnaire that takes you through the steps to see if your mortgage qualifies.
DO NOT PAY SOMEONE TO DO THIS PAPERWORK FOR YOU!
Do some homework first, have the balance on any mortgages you owe, and the current value of your home written down.
You will also need to have your monthly income amount, and calculate what percentage of that is taken up by your mortgage payment or payments, and by those mortgage payments and credit card and other debt payments.
Simple example, as that is all I can follow without a calculator:
Mortgages total $100, house worth $101. So, mortgages owed are 101% of the house value.
Monthly income, $100, monthly mortgage payments, $35. Monthly mortgage payment = 35% of monthly income.
Monthly income, $100, monthly mortgage and other debt payments, $60. Monthly mortgage payments and other debt payments = 60% of mothly income.
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