July 1 2013 a new simplified loan modification process starts for anyone with a Fannie Mae or Freddie Mac Loan. Simplified means that you do not have to go through the process of documenting your income and hardship situation.
First find out if that is you – go to this site and see if your loan is owned by Fannie or Freddie
Fannie Mae Look Up: http://www.knowyouroptions.com/loanlookup
Freddie Mac Look Up: http://www.freddiemac.com/mymortgage
Then call your loan servicer and ask for for the the new Streamlined Modification
To participate in this program you must be 90 days delinquent on your loan and you must be able to make the three monthly trial payments after which the loan will be permanently modified.
If you have questions on the short sale or loan modification process please call or email us today. More information can also be found on our website psagent.com
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