Loan Modifications, How To Find Out If You Are Eligible Online

" Loan Modifications can be a way to save your home from an imminent foreclosure. It will also affect your credit score, and this could affect your chances of getting another loan or when applying for a job. This makes many people think twice before applying for a loan modification. The truth is that you could end up without being accepted for a loan modification but still suffer a drop on your credit score. There is also the time wasted applying and waiting for a response. Some troubled homeowners automatically assume they are not eligible for such a modification. A good way to make sure you are even eligible for a loan modification under the HAMP program is to visit http://makinghomeaffordable.gov/modification_eligibility.html and see if you pass the program’s requirements. "