Today I like to post the topic about President Barack Obama's HAMP plan .Really it will help all the home owner who are struggling to receive a mortgage or to the people, who are suffering with financial problems such as family problem , loss of job and death of any family member.
There are certain requirements to eligible for the HAMP
1) Show documents that you are suffering with financial hardship
2) The loan must be originated before one year means on or before 1st January 2009
3) The total amount of loan should not be more than $729,750 for one property
4) The mortgage should be the borrower's primary residence.
The process to apply
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1) Contact the loan lender and request him to consider your loan for Obama's HAMP plan.
2) Prepare the documents to prove you are suffering with financial hardship.
3) Collect all the financial statements to show details of income and expenses.
4) Show two months banks statements
5) Show all the proof regarding tax returns, award letters and income statement .
This plan is designed to help the borrowers .They can apply it . They can qualify by directly from their lenders.This program is completely free to the borrowers .So prepare all the financial statements and contact your lender to approval for the process .
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