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Government Loan Modification Program

How does the Obama Plan Work?

If you have been turned by your lender for a loan modification, you can try again under the new Obama Plan. President Obama has implemented the Home Affordable Modification Plan (HAMP), also called the Making Homes Affordable plan, to help distressed homeowners get a loan modification to lower the payments on their existing loan. In order to qualify, the home must be your primary residence, you need to be having difficulty paying your mortgage, you need to owe $729,750 or less on your first mortgage, get your mortgage before January 1, 2009, your first mortgage payment, including principal, interest, taxes and insurance, and applicable HOA dues, is currently more than 31% of your gross income.

In addition to helping American keep their homes, one of the intentions of the program is to make lenders more willing to modify loans, as they have incentives to participate in this program by being given $ 1000 for every loan modification, plus an additional $1000 per year for 3 years if the borrower's payments are current.

A Kansas Loan Modification Attorney Will Fight for You

It is suggested that the borrower can easily negotiate through this process without the help of an attorney. The practical reality of this proves this to be incorrect, as borne out by those who have attempted to go it alone who have:

  • gotten the runaround
  • ended up talking to someone in India though their lender was in Florida
  • have a lender who is not participating in the program
  • had their request denied and the now the lender will not return calls
  • a lender that is too small and does not do loan modifications

An experienced Kansas loan modification lawyer, Rick Hodge, Attorney at Law will fight to get your loan modified under the government loan modification plan, and review you loan documents to ensure no loan violations have occurred with your lender. He will also discuss other options with you that may work for you such as foreclosure defense, a short sale, or deed in lieu. He understands the stress and frustration financial problems can cause. He has provided peace of mind to hundreds of families in Kansas by helping them resolve their mortgage difficulties.

Contact a Kansas Loan Modification Attorney to discuss all of the alternatives for modifying your loan.

300 West Douglas  Suite 145  Wichita, KS 67202

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Rick Hodge, Attorney at Law - Kansas Loan Modification Lawyer
Located at 700 N. Market Wichita, KS 67214. View Map
Phone: (800) 836-3617