Loan Modifications Eligibility Criteria, The Rules Explained.

Providing loan modifications to those that need them and are eligible according to the current criteria is the goal of the cash happy loan modification aid program. The goal is to keep out scammers and those who wish to take advantage of the system while not letting the ?deserving? fall through the cracks. This is an ambitious goal. As we have discussed in previous blogs making good rules that keep out the cheats and welcomes the eligible is very hard. Here is the current ten point criteria for loan modifications: 1.)    Loans must be conforming conventional loans or conforming jumbo mortgage loans and they must have been contracted before January 1, 2008. What is a ?conforming? loan is changing all the time. 2.)    You must be three payments past due. This r