The Obama administration had launched the home affordability plan to stabilize the housing market in early 2009. In less than a year, more than 85,000 homeowners have registered for trial and permanent loan modification programs. Transferring all the homeowners who have successfully completed the trial period to a permanent plan has become a task of prime importance for the government. With this regard, the administration has issued a list of documentation requirements to the service providers. These guidelines will help in refining the procedure, and at the same time, accelerate trial modification conversions to permanent ones.
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