To be eligible, all of the following must be true:
- Is the property owner-occupied?
- Is the unpaid mortgage balance less than $729,000?
- Did the mortgage originate on 1/1/09 or earlier?
- Are you having trouble paying the mortgage?
If you answered yes to the above four questions, continue using their calculator. If you qualify, the calculator also tells you what your new payment would likely be under Obama’s plan.