The idea of getting your loan modified is a tempting one. Imagine getting lower interest rates and not having to pay so much every month. That’s why many homeowners are applying for the program.The problem is that not all qualify for the program. It is more right to say that hardly anyone qualifies for the program. There are so many who re-apply again even on the third time and are still denied.Why they deny your ApplicationNormally, a loan works like this: A lender will check your credit history and your financial status. The amount that they are going to lend you plus interest depends on your monthly salary. If you are able to earn big time, your chances of getting a loan are high.If you have bad credit, then you cannot qualify for a loan. This is business so what would be their guarantee that they can trust you when they give you a loan? If you have bad credit history, then how would you be able to pay them?Before you loan money, think about your other financial payments. There are a lot of bills to pay and if you have children going to school, then that’s also an added expense. Keep in mind that what you loaned has interest.When you apply for a loan, don’t lie especially about your salary. Lenders can find out everything about you. They do a background check before they loan you money so that they know whether you are telling the truth or not.Sometimes lenders see it differently. Homeowners think that they can add value to their home by improving and adding a few things to it. If you are going to borrow money for this purpose, lenders won’t agree to it because they do not see the point in it.Not being able to qualify for a loan modificationWith so many homeowners being denied, it’s no wonder that your application will also get denied. Second time, third time or fourth time, who knows when your application will get approved?Your best bet is to hire the services of a reputable and professional lawyer. They know how to handle these kinds of cases in a legal way. Just be sure to provide them with accurate information.They not only get your application approved but they also get the interest rate to go lower. You will save a lot from this. However, hiring the services of lawyers do not come in cheap. Although this is the case, you will benefit from this for a long time.