Do You Qualify For A Loan Modification Under The Homeowner Affordability Plan?

The minimum requirements to qualify for refinancing under the Homeowner Affordability Plan are: 1) the loan must be guaranteed by Fannie Mae or Freddy Mac, 2) the home must be the borrowers primary residence, 3) the borrower cannot be more than 30 days late in the last 12 months, and 4) the amount refinanced cannot be more than 105% of the home value. Loan modification qualification under the Homeowner Stability Initiative is also limited to loans under $729,750, and loans that originated before January 1, 2009.