Step 1

We lowered our monthly mortgage payment on our home nine hundred ($900.00) dollars! Our new monthly house payment dropped from $2,000.00 (65% of our income) to $1,100.00 (31% of our income)

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Along the "Trail To Mortgage Modification Hell" you will run into NEGOTIATON over how much your mortgage payment will be. The Banks don't always make it clear that their PROPOSED mortgage modification is NOT a take-it-or-leave-it proposal. Tell the Bank that you insist on the Obama Plan mortgage modification with a monthly house payment of 31% of your total household monthly income. Also, your "certified" Housing Counselor does not know that you can insist on the 31% figure. They are ignorant of that fact. They will agree with the Bank that 31% in "merely" a "target" figure "calculated under HAMP". HAMP is just another name for the Obama Plan. Through this blog you now know that the 31% figure is NOT just a target fugure.
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This blog will tell you what we did and how we did it. Knowledge is power! Read the nine steps we went through, start with Step 1.
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The first step is, are you qualified?  All you have to do is have an income reduction.  For example, you were layed off, you retired, a medical condition caused a decrease in your income.  In our case I was ill for most of the past few years and saw a dwindling of income to the point where we were not paying our taxes in order to pay for the mortgage, we ran out of savings, we had to sell my pick-up truck (sob!).  Also, your principle home must be worth less than $700,000 or so and purchased before 2008.