WASHINGTON (4/15/09)—The current economic climate may be causing problems for an unprecedented number of mortgage holders, but for some it will not be the first time they have faced difficulties making mortgage payments. Are they still qualified for help under the Obama administration’s loan modification plan? That’s what Martha Member, featured in the April Credit Union National Association (CUNA) Compliance Challenge wants to know. She asks her federal credit union if she can apply for a mortgage modification under “Making Home Affordable” program, even though six years ago she requested modifications to her loan due to temporary job loss. Compliance Challenge says, Go ahead, Martha. The administration’s plan does not bar individuals whose mortgages have been previously modified under another program. Any mortgage holder, of course, must meet eligibility and verification requirements. They include such things as: the mortgage involved was originated on or before Jan. 1, 2009, and it’s first-lien loan for an owner-occupied property. However, a mortgage borrower can apply for assistance under this program only once. “If a member needs additional mortgage assistance at a later date, then the credit union should attempt to address those needs with other loss mitigation alternatives,” the Challenge advises. Use the resource links below for more information.