FIX MY MORTGAGE Do-It-Yourself Kit

If you are struggline to pay your monthly mortgage payments, you should:

1. Figure out if you are eligible for President Obama's "Making Home Affordable" Loan Modification Plan.
   Please use the self-assessment tool to see if you may benefit from "Making Home Affordable." You'll find it at: http://www.makinghomeaffordable.gov
   
2. Gather the Necessary Documents & Don't Panic!
   In being prepared to Fix My Mortgage, borrowers on the loan will need to gather all the necessary paperwork, including proof of income, mortgage information, savings/assets, and expenses. See the checklist of what your lender will need.
   Required Documents Checklist
3. Check to see if your lender is participating in the "Making Home Affordable" Loan Modification Program
   A wide array of servicers have agreed to participate in the Home Affordable Modification program and have already engaged borrowers and expanded capacity to begin the modification process for eligible homeowners. In addition, all servicers for loans owned by Fannie Mae and Freddie Mac are required to participate. The following is a list of servicers who have formalized their commitment to the program through a signed contract: List of Servicers

President Obama's "Making Home Affordable " Loan Modification Program Do-It-Yourself Kit

In March 2009, President Obama announced the government was investing $75 billion to help 3 to 4 million homeowners avoid foreclosure. The Plan works by incentivizing your lender to reduce the monthly mortgage payment on first mortgages to 31% of the household's gross monthly income.

The documents for the 9-Page Fix My Mortgage Do-It_yourself_Kit are below.

• A cover letter to your lender (one page)
• An explanation of President Obama's Plan and How to Apply (3 pages)
• A Hardship Affidavit, which details the events (job loss, loss of income, etc.) that contributed to difficulty in making the mortgage payment (3 pages)
• IRS Form 4506-T, which authorizes the IRS to send your 2007 & 2008 tax returns to your lender to verify information. (2 pages)

Don't Qualify? Contact Your Lender. (If you are unemployed for have a VA Loan, you are NOT elibible for this new Federal Foreclosure Prevention Program.) But you still have some options: We urge you to contact your servicer for assistance. What to do if you don't qualify.

REMEMBER:
Reputable help is available — you don't have to pay anyone to help you get loan modification.