Streamlined loan modification is a mean to quicken up the whole loan modification process. This method of loan modification relies on the benchmark ratio, which is the ratio of the mortgage payment to the borrower’s gross income. This program was designed to provide similar results as the standard loan modification, with faster processing to reach more needy borrowers.

There are certain requirements that have to be met in order for a borrower to qualify for a streamlined loan modification.

• The borrower has to be at least three payments behind on the loan.
• The home in question must be the primary residence of the borrower.
• The borrower must not have a bankruptcy on record. Proof of financial hardship is also a major requirement.

Some people will not meet some or all of the eligibility requirements for a streamline loan modification. If this is you, do not panic yet. You may still be able to qualify for a standard loan modification. There still may be help for you to keep your home, and change the terms of your loan to fit your current financial capabilities. To this end, our specialized lawyers get assist you through the process.