any loan older than 9 months will be considered for a modification. Balance Sheet strength: Whether you have significant additional assets beyond the property may be an issue, especially if the loan was a refinance with equity taken out or is a Home Equity Line of Credit (HELOC). The first guideline is most important ability to pay. The modification will be approved by an underwriter who will apply standard qualifying criteria to your application. YOU MUST BE ABLE TO DEMONSTRATE THAT YOU …