Are you looking for a way to reduce your monthly mortgage payments in order to keep your home? Well now, using Obamas housing bailout stimulus plan, it is easier than ever for a homeowner to get a loan modification on their own, and lower their monthly payments. This is all possible because of Obamas plan. Here is some advice to get you started on a DIY Mortgage Refinance Or Modification with Obamas stimulus package:

-Before completing or even starting any paper work for your home loan modification, make sure you know the approval requirements. It is not likely you will get approved for anything that you do not know the approval requirements for, and odds are if you do not learn them you will not be approved. Learn what is required and customize your application in a way which meets these needs.

-Make sure to use a check list or other type of organizer. This way you will be certain that every single document needed by the mortgage lender or bank is completed and easily accessible. This will help you when your bank or lender is asking you questions to which you know the answer for, and have it in front of you.

-Ask your lender or bank for a document requirement list. This way you can be certain you have turned in a complete and approval friendly, loan modification application. A good way to make sure your application gets processed without delay is making sure every single document is included, complete, and acceptable, prior to turning in the application.

-Once you have turned in your application, call to in a day or two to make sure your application did in fact get received. Then after that, call once per week to check the status of your application. Sometimes your bank or lender will tell you they will call you if anything happens, do not wait for them ever. Be persistent and take action to ensure your home loan modification goes through.

Almost all homeowners who are qualified for Obamas stimulus plan will be approved for a mortgage refinance or modification, even if they do it themselves. Now, a homeowner can save hundreds of dollars per month through using President Obamas mortgage stimulus plan for themselves. The savings can easily equal hundreds of dollars per month. A homeowner should do themselves a favor and call their mortgage lender or bank and see the potential savings every month.

-M Petrone

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