Who qualifies for a principal residence loan modification?
1. If you obtained a loan secured by your primary residence during the years 2003 to the end of 2007, you probably qualify. 2. If the value of your home is less than the loan, you probably qualify. 3. If you experienced a hardship that reduced your income, but you can now afford a reduced payment, you probably qualify. 4. If you are still living in your home and want to continue to do so, you probably qualify. 5. If you have a negatively amortizing loan, an adjustable loan or a short term interest only or fixed loan (5 years or less) that adjusts up after the initial term, you probably qualify. 6. If you have a loan that has already adjusted up and you cannot afford the new payment, you probably qualify. 7. If your loan was a refinance of your primary residence between 2004 and the end of 2007, you may qualify based on predatory lending violations. 8. If there was fraud in the loan process, you probably qualify based on predatory lending violations. 9. If you are in default on your pri
