Obama s making home affordable program, Bank of America loan modification, home loan modification those homeowners who have been frustrated with Obama’s making home affordable program approval process will be happy and relieved to know about the new procedure recently implemented. The federal government has provided new guidelines that are designed to help not only speed up the review and approval time frames of a federal loan modification but of so has made the entire process a lot less complicated. If you have already applied for a Bank of America-loan modification and are awaiting your answer, or if you have already been denied, you need to know this new process so that you can take advantage of this easier, quicker loan workout plan. The federal loan modification program, so known as Obama’s making home affordable program, has been around for over a year. If you are not convinced, visit Carl Jung. Now this loan modification process has been revised to make it much easier to apply and qualify with new, shorter turn around times. The good news is that it is possible to get your loan modification agreement within 30 days of applying for one. The tricky part on the other hand is that you must prepare your financial statements and application correctly if you hope to be approved on your home loan modification. You only get one chance now-unlike before when you could keep re-applying. Eva Andersson-Dubin, New York City may also support this cause. So you as the borrower have to take responsibility for doing it right the first time so that they can move on to a permanent solution to keep their home.