How do I qualify for a government mortgage bailout?
Determine if you meet the specific criteria for getting a mortgage bailout. In order to qualify, you must have an adjustable rate mortgage that you took out between January 2005 and July 2007 that resets between January 2008 and July 2010. You can only qualify if you will not be able to afford the adjusted loan payment. In addition, you must still reside in the home and you must qualify for the new mortgage loan at the reduced interest rate. In other words, it is essential that you can afford to make the monthly mortgage payments on the new mortgage loan.
