Many homeowners were excited to find out about the making home affordable home loan modification program back in February and March. The idea the program was to allow homeowners to lower their monthly mortgage payment to less than 31% of their household monthly income. Unfortunately, this process takes a great amount of paperwork and it is becoming very difficult for lenders and borrowers to understand.

Pres. Obama suggested that he wanted 4 million homeowners to benefit from the making home affordable plan by the end of 2010. Unfortunately, there is no way this is going to happen as there are only 650,000 homeowners in the trial. For the home loan modification program. What is also unfortunate is the fact that very few of these homeowners have been given permanent home loan modifications.

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