Wachovia Loan Modification Calculator Calculate Your New Mortgage Payment
Do you need a Wachovia loan modification?
Homeowners who are a good candidate for a loan modification include:
1. People who are late on their payments
2. People suffering from a financial hardship
3. People who's payments have adjusted or are going to adjust
4. People who have tried to get a loan modification and have been denied
With the loan modification calculator, you will be able to tell if you qualify and find out what your new payment would be. This is a great little free tool that only takes a few seconds to use.
The guidelines for the calculator are the Obama mortgage plan guidelines. Under these guidelines, homeowners mortgage payments will be capped off at 31% of their net monthly income. This is accomplished by lowering your interest rate to as low as 2%, extending the terms of your loan and reducing the principal balance. Don't get your hopes up for a balance reduction, usually the first two options take care of the payment cap. The thing to remember is that your payments are going to go way down and you will be able to afford your home once again.
Also, if you are in danger of losing your home to foreclosure, this plan will help. When you get approved, it takes some time to work out the paperwork, but your lender will not be able to foreclose on your home for 90 days. So, if you are WAY behind on your payments and scared about losing your home, this will allow enough time to complete the loan modification and save your house.
To see if you qualify for a Wachovia loan modification, just visit the link below and get started! It only takes a few seconds to find out if you will qualify and what your payment would be if you get approved. If you need help to get your loan modification to go through and get those new low payments, you can fill out the form for a free consultation if you like.
