| A loan modification is one of the option that Obama's | | | | . Washington Mutual and EMC |
| Stimulus Package offers. This relieves the frustrated | | | | . Saxon Mortgage |
| home owners from foreclosures. People are trying | | | | . GMAC |
| their best to get a modification for themselves. But the | | | | These lenders would be interested in the modifications |
| government has set certain conditions that you need | | | | as they are being provided $1000 for each modification |
| to fulfill before applying for one. | | | | deed that they make. These incentives are announced |
| Lenders Approved for Loan Modification Help | | | | & provided by the US Federal Government. Now |
| You need to check that the lender you are | | | | you can directly contact these lenders through a call at |
| approaching for a modification is approved by the | | | | their loan modification department or can visit their |
| Stimulus package. Not all the lenders come under this | | | | official website. |
| list. Up till now there are 6 lenders that have been | | | | These are the lenders approved for Loan Modification. |
| approved for the loan modification. These can accept | | | | But there are many others still trying for their approval. |
| the applications for approval and only these lenders | | | | So, in case you are planning to apply for a loan |
| are able to receive the incentive that the Federal | | | | modification check out the given eligibility apart from |
| Government has decided to pay for each modification | | | | the knowledge about these lenders: |
| deed. | | | | . Your mortgage deed must be owned & or |
| Here is a list of these lenders: | | | | insured by Fannie Mae & Freddie Mac. |
| . Chase Home Finance: It manages loans fore JP | | | | . Your mortgage value must exceed the current |
| Morgan Chase | | | | market value of the house over 105%. |
| . Wells Fargo: It serves Wachovia and Wells Fargo | | | | It is your legal right that you may ask the lender if they |
| . Citi Mortgage: It looks after Citi Bank mortgages | | | | are insured by Fannie Mae & Freddie Mac. |