Refinancing or getting a home loan modification through Countrywide can seem difficult and confusing, but it does not have to be. Millions of homeowners are stuck with mortgages they can no longer afford and need to lower their monthly home loan payments to save their home, or enough money to pay other bills. So, How do you apply, qualify, and get approved for a home loan through Countrywide? We will go over some simple things you can do to help ensure you have the best experience possible when dealing with Countrywide for a home loan refinancing or modification.

Simple Steps in the Countrywide Home Loan Modification or Refinancing Process:

1)Create an easy to track and follow checklist of all information, forms, and documents which may be needed from a bank or mortgage lender when applying for a refinance or modification of your home loan, Having everything organized and easily at your disposal will save you a lot of time and frustration in the future.

2)Establish a new family and personal budget using the predicted mortgage payments after the refinancing or modification as the center point. This payment should what your goal is when you decide the time is right to use Countrywide to refinance or modify your mortgage. This payment should be an amount which you can easily afford, and still fall within the guidelines established by Countrywide. Be sure to minimize any expenses you can do without when creating this budget for a lender such as Countrywide. It is important to them that you are able to pay the new monthly loan payment, especially after a refinancing or loan modification.

3)Write a detailed letter of “Financial Hardship” stating your financial problems. Make sure it includes the debts you have, your income, and facts that indicate your financial situation will not be getting any better anytime soon. This will help instill a sense of urgency in the lender and push your refinancing application through. Explain any causes of your financial hardships and what will be done to prevent such things from happening in the future, and how much you want to save your home, and be sure that Countrywide believes that you will never miss another mortgage payment should they approve your refinance or modification application.

4)Since you have gotten all of your applications and paperwork completed, make sure to review your budget and tune it where you can, write your letter of financial hardship, and call Countrywides Home Loan Refinancing and Modification Department. Make sure you clearly state your situation and write down everything that is said by the lender you speak with.

These are some super simple steps any homeowner who wishes to get a mortgage modification or refinancing through Countrywide can do to help ensure their approval. Being prepared is the key to making this process as easy as possible. This is the chance you have to get your financial future back on track, so take the time and do it right.

-M Petrone

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