Are you eligible for a loan mod?

A look at 2 options for troubled borrowers

In case you haven’t heard, the Obama administration has asked major lending institutions to commit to doing at least 500,000 loan modifications before then end of 2009. Is this a viable solution for your home?

Have you lost your job? Has your income declined significantly since you first purchased your home? Has your mortgage readjusted to a higher interest rate that you can’t afford? If so, there’s a good chance that you may be eligible for a loan modification.