|Countrywide home loan modification program is a process that has proven to be beneficial to most of the home loan borrowers. This is because, the bank provides a modification program that helps the homeowners to modify their housing loans that have been availed earlier. It is estimated that with the help of Countrywide home loan modification program, around 4,00,000 home owners will heave a sigh of relief. In its home loan modification program it plans to provide $150 million as to borrowers who are not able to retain their houses even after paying the relocation costs. It also plans to offer all the eligible borrowers FHA loans that indeed affordable.
Countrywide Home Loan Modification Department
The Countrywide home loan modification department looks in to the modification of home loans. In order to apply for a Countrywide home loan modification program, you need to fill up an application form and submit it at the concerned department. The bank officials will get in touch with you if they feel that your form is up to the mark and according to the standards set by Countrywide financial corporation. Home loan modification process is a program for making people retain their homes. The eligibility for home loan modification program is as follows:
Eligibility for Home Loan Modification Program 2009
- The present existing loan to value is at least 75% or above
- The borrower should be more than 60 days overdue
- Borrower must not be in a position to follow the rates mentioned below
- Reasons for home loan modification program must be mentioned
- Investors are waived off the pre-payment penalty fees
Countrywide Home Loan Modification Program
The success of this loan modification program is seen only through statistics and the statistics show that more and more people have emerged to be quite satisfied after availing the modification program. Countrywide offers FHA loans to those people who are really not in a position to pay back the home finance as discussed. Thus, the modification program emerges as a hope to all the home owners. You can also call the concerned department on their number 1-800-669-6607 for any further details on the same. The customer service department will be the best ones to guide you with your existing loan amount.
For more information on Countrywide home loan modification, its program, department or the application process you can log on to their official website: