The 2009 Stimulus Package of the Federal Government is primarily based on loan modification. Also in some cases refinance would lend great help for the home owners. Usually the terms & conditions required for home loan mortgages are similar for all the banks & mortgage companies. The right way to approach any given bank or the mortgage company for loan modification or refinance is to research well about their eligibility criterion. One among the leading banks in US is Countrywide.

Here are tips to get a loan modification or refinance from Countrywide:

· The earlier deed of home loan mortgage must allow you for a refinance. At time these is a clause levied that that you can not get the loan refinanced. So, first of all you must be eligible for mortgage modification or refinance.

· The best means to contact the bank is through a hardship letter followed by a prompt phone call in the bank’s mortgage modification department. Simultaneously, you must contact the Countrywide bank through their official website.

· The bank would get in touch in touch with you through various means like internet, posted letters, etc. You must be prompt in responding them.

· When you contact the bank you must update them with all the details of your prior mortgage. Then you must also tell them the exact changes you are looking for; for instance, the monthly installments you can pay, etc.

· Make sure that you do not hide any crucial details or do not misinform any thing. Remember once your loan application is rejected, you shall have enormous problems in the future dealings.

· With the 2009 Stimulus Package you can seek for professional help from the experienced counselors appointed by HUD (US Federal Housing & Urban Development Department) absolutely free of cost. They would help you mange you finances, draft the right application and become your representative while dealing with the Countrywide bank, if required.

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