Countrywide Loan Modification Programs

We understand that you may be dealing with financial challenges right now and we are offering programs to help qualified Countrywide borrowers stay in their homes.

If your mortgage is serviced by Countrywide Home Loans and is either a subprime or pay option type mortgage originated with Countrywide Home Loans, then you may qualify for Countrywide Loan Modification assistance through the Countrywide National Homeownership Retention Program. After December 1, 2008, Countrywide began reaching out to more than 400,000 of its borrowers potentially in need of a Countrywide loan modification. Our objective is to work with you to find the best possible Countrywide loan modification solution possible.

If you are behind on your mortgage payment, or think you may fall behind due to financial hardship, click here to find out how we may be able to help.

Countrywide Loan Modification Program Details

Countrywide have the ability to offer eligible borrowers these additional program options based on product type:

Subprime 2-, 3-, 5-, 7- and 10-Year Hybrid ARM borrowers who become seriously delinquent following an interest rate reset may receive a restoration of the introductory rate for five years and additional relief if they are unable to afford the introductory rate. Borrowers who cannot afford the introductory rate may be offered one of the following loan modifications within the limits certain limits:

• A fully amortizing loan modification with an interest rate reduction to the introductory rate or lower for five years and an automatic conversion to a fixed rate for the remainder of the loan term. If the new payment will not be affordable at the time of conversion, the borrower can be considered for a single two-year period of reduced rate financing and the conversion to a fixed rate will occur at the end of the seventh year.
• An interest-only loan modification with a ten-year interest-only period at a reduced interest rate with fixed step annual rate adjustments, subject to an interest rate cap.

Pay Option ARM borrowers accepting a streamlined Countrywide Loan Modification option will have the negative amortization feature eliminated from their loan. For owners of only one residential property who currently have little to no equity in their homes, the Countrywide Loan Modification Program may write-down the principal balance to as low as 95% of the current value of the property to restore an equity position. The Countrywide Loan Modification Program may offer a fully-amortizing modification consisting of:

• An optional ten-year interest-only period on the loan; and
• Reduction of the interest rate with fixed step annual rate adjustments, subject to an interest rate cap.

Other Subprime borrowers may receive a streamlined Countrywide Loan Modification consisting of a fully amortizing loan modification with:

• An optional ten-year interest-only period on the loan; and
• Reduction of the interest rate with fixed step annual rate adjustments, subject to an interest-rate cap.

Our goal is to help keep you in your home. If you think you might fall behind on your payments or have already missed a payment, our specialists will work with you to determine your eligibility for one or more of these potential solutions:

• Refinancing
• Extending the term of the loan
• Interest rate reductions
• Temporarily freezing monthly mortgage payments
• Extended repayment schedules
• Decreasing the principal balance of the loan

For more detailed information about Countrywide Loan Modification Program or the Countrywide National Homeownership Retention Program, fill out the contact form now.

Contact us today to find out if you're eligible for a Countrywide Loan Modification.