Providing Proof of Hardship | Loan Modification Part 3

After you determine you’re eligible

If medical expenses are making it tough for you to pay your mortgage, you could get help from the feds.

If you’ve read Part 1 and Part 2 of this series, you should already have a pretty good idea of whether you are eligible to take part in the federal Foreclosure Prevention Plan.

You also know that part of the process is including proof of hardship. This article in the Loan Modification series will discusses what that means.

The List

Federal officials have said only "at risk" homeowners can get government assistance. Applicants must prove one of these:

• serious hardship
• declines in income
• increase in expenses
• facing an interest rate hike
• high mortgage debt compared to income
• they owe more than their house is worth
• reasons for being close to default

Serious hardship

If you have had huge medical expenses or other emergencies that have hampered your ability to pay your mortgage, you can use these to appeal for government assistance. ... click here to read the rest of the article titled "Providing Proof of Hardship | Loan Modification Part 3"