Mortgage loan modifications
posted by DianneSpooner.com - Your REALTOR @ 2:55pm, Tuesday 15 December 2009.
Are You Eligible for a mortgage loan modification? To be eligible, you must own the property and live there. Your mortgage must have originated on or before January 1, 2009, and your monthly payment – taxes, insurance, homeowners association dues – must be greater than 31 percent of your monthly gross income. Also, your mortgage balance must be no more than $729,750, and you must document that your mortgage is no longer affordable due to a financial hardship such as a job loss. Call the nonprofit Homeownership Preservation Foundation’s hotline at 1–888–995–4673 toll free. (Inf. per DEC. 2009 AARP Bulletin)
REALTOR®/Broker Associate
Hill Spooner & Company Inc.
850-508-1846
FAX 850-907-2087
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