Eligible: Home Affordable Refinance

Congratulations! Based on the information you provided, you may be eligible to refinance under the Home Affordable Refinance program.

The next step is to gather information about your mortgage and your finances that you'll need in order to get help from your servicer or a housing counselor.

Here's what MakingHomeAffordable.gov, the program's official Web site, says you should have ready when you call:

• Information about your mortgage, such as your monthly mortgage statement.
• Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.
• Your most recent income tax return.
• Information about any second mortgage or home equity line of credit on the house.
• Account balances and minimum monthly payments due on all of your credit cards.
• Account balances and monthly payments on all your other debts such as student loans and car loans.

Once you've gathered this information, contact your mortgage servicer or lender and ask about the Home Affordable Refinance application process. You should be able to find their contact information in your monthly mortgage statement. If you'd rather work through a counseling agency, you can find one on the HUD Web site.

For more information on refinancing, visit the Bankrate refinancing topic page.