Wells Fargo is currently accepting loan modification applications from people who are interested in the Obama Federal program. This program is known as Home Affordable, or HAMP. This program is currently designed to offer loan modification help to a little over five million people. Of course, the program does not help everyone. There are certain guidelines that you must pass before you receive help on your mortgage.Who Can Apply to the Home Affordable ProgramAlmost anyone who is currently experiencing financial problems as a result of a too expensive mortgage payment can apply to the Home Affordable Program. All you need to do is ask Wells Fargo for help. If you have been declined for loan modification help or if you are currently going through the application process for loan modification, you still have a chance at the program that is offered by Wells Fargo. All you need to do is pass certain qualifications. For example, a good candidate for this program is someone who has a mortgage loan that originated before January 1, 2009. In addition, the amount owed on the loan has to be less than or equal to $729,750. If you owe an amount that is more than this, you will not be able to receive help through Wells Fargo and the Home Affordable program. In addition, your current loan mortgage payments have to be less than thirty-one percent of your gross monthly income. This includes your taxes, your insurance, and your homeowner dues.You should apply for HAMP as soon as possible. This program only has a limited amount of government funding available. There are millions of people asking Wells Fargo for help. You should ask for your help before funding runs out.Applying for HAMP from Wells FargoBefore you can apply for HAMP, you will need to prepare a financial statement. This statement has to list all of your monthly expenses and your current income. It will allow Wells Fargo to figure out if you can qualify for HAMP.If you have two loans, you can receive loan modification help for both loans. Your rates on the second loan can be reduced to one percent. It could even be eliminated. The Department of Treasury will pay the lender with a subsidy.If you do not understand HAMP, you should ask a professional for help. He or she will know how to complete your application and provide all of the needed documents.