Apparently, it is no longer hidden that people all over the world have been battered by the recent economic meltdown that hit every body like tsunami especially in the area of mortgage. Salary cuts, company downsizing or resizing and some problems associated with the economic recess have made it difficult for people to repay their loans mortgage on time because of this many people are facing foreclosure. If not for this present administration which brought succor to many people through his loan modification program, he made it easier for borrowers who could not repay their hummingbird loans bad credit direct lenders only and have lost hope to regain their confidence back.

In order to be a partaker in this program, you have to meet certain criteria like your hummingbird loans direct short term lenders bad credit must not be in the excess of $730,000, it must commence before the beginning of 2009 and with legitimate mortgage papers. With the above in order your lender has no option than to extend your term or as the case may be reduce the interest rate.

Secondly, it is very important you write a good hardship letter for hummingbird loans tribal installment loans with high interest rates modification, with your signature appropriately signed by you and explain the reason why you defaulted in your payment.

Thirdly, provide up to date financial status I mean your income deducting from your expenses.

Fourthly, you have to give your lender the assurance that if your loan is modified, you will be able to repay in the new term without defaulting.

After all these, address your letter and application to the lender's loss mitigation department for on ward review and approval, and if you qualify there will be appropriate communication to your lender the for modification process to kick off. If you encountered any difficulty on the way you can consult your attorney or specialist for help.

Grab this golden opportunity make use of it now and save your home from foreclosure before it is too late.