To be eligible to participate in this program, a borrower must:
1. Have a loan on an owner-occupied principal residence. Investors, speculators, or borrowers who own second homes cannot participate in this program.
2. Have a monthly mortgage payment greater than at least 31 percent of the borrower's total monthly income, as of March 1, 2008.
3. Certify that he or she has not intentionally defaulted on an existing mortgage, and did not obtain the existing loan fraudulently.
4. Not have been convicted of fraud.
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Provided by: Steve Linin
http://www.linnin.info
