You should apply for a Loan Modification if you meet ONE of the following:
Late or Delinquent Payments 7% Interest Rate Or Higher Current or Pending Foreclosure Adjustable Rate Loan Hardship Situation Negative Equity
On May 20th, 2009, President Obama signed the Helping Families Save Their Homes Act: "The Helping Families Save Their Homes Act advances the goals of our existing housing plan by providing assistance to responsible homeowners and preventing avoidable foreclosures."
-President Barack Obama
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