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Mortgage loan modifications typically are handled on a case-by-case basis. Homeowners having difficulty meeting their mortgage obligation or interested in finding out more about a loan modification program should start by contacting their lender. Prior to calling a lender or loan servicer, homeowners should have the following information available:

• Loan number
• Income information and documentation
• Most recent mortgage statement
• Bank statements
• Letter demonstrating financial hardship
  
  In the meantime, these may be helpful for you to review:

Making Home Affordable Program
This program is designed to help homeowners in existing Fannie Mae or Freddie Mac loans that are current on their mortgage payments to refinance and take advantage of today’s lower interest rates. Under the Administration’s plan, Fannie and Freddie will be allowed to refinance qualified homeowners up to a 105 percent loan-to-value of the current value of the home.

Loan Modification Information Meeting certain requirements may allow you to modify your existing loan to make it more affordable. Criteria for this program and details on what is offered are available here.

HOPE for homeowners
If you are in risk of default or foreclosure, learn more about what you can do here.

Countywide (Bank of America) Program The Homeownership Retention Program for Countrywide Customers Program will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principle reductions for nearly 400,000 Countrywide customers nationwide.

Citigroup, CitiMortgage Program The Citi Homeowner Assistance Program will preemptively reach out to homeowners in need of assistance and will not initiate a foreclosure or complete a foreclosure sale on any eligible borrower where Citi owns the mortgage.

JP Morgan Chase & Co. Chase is expanding the mortgage modification program by undertaking multiple initiatives designed to keep more families in their homes, including extending its modification programs to Washington Mutual (WaMu) and EMC Mortgage Corp.

Washington Mutual Information See Chase Information by clicking on the link above as they now own WAMU and plan to extend their programs to WAMU customers as well.

IndyMac Federal Bank, FDIC Program IndyMac Federal Bank has implemented this program.