This question is impossible to answer without more detailed information. However, there are some general guidelines that we follow to determine if you are eligible.

1. Hardship - is there a reason why your house is no longer affordable? Qualifying hardships include reduced income, increased expenses, divorce, illness, disability, and/or and interest rate that has reset at a higher rate (among others).

2. Debt to Income ratio - generally, if your mortgage expense is greater than 31% of your gross income, you are eligible.

3. Potential Savings - is the potential savings significant enough to warrant a modification?

4. Ability to pay after modification - If a modification is likely to ensure that you are no longer a foreclosure risk, you are more likely to succeed.

The Treasury Department insists that loan modifications are FREE. We have found that this is simply not the case and homeowners continue to waste valuable time trying to manage this difficult process on their own. By handling the negotiation yourself, you are simply placing your future in the hands of the same people that placed you into this loan in the first place.

Ask yourself this: what’s at stake? Do you think it makes sense to hire a professional to ensure your loan modification is handled properly?