Some homeowners think that getting mortgage modification while unemployed is impossible. This couldn't be further from the case. While it is true that you will have a more difficult time being approved for a mortgage modification while unemployed, many lenders do accept homeowners who currently do not have a job.

Unemployment is no rarity in today's economic climate, and lenders are coming to cope with that.

Even someone who used to have a very stable position in their company is at risk at layoffs these days. Homeowners from all walks of life with homes that range in value from $60,000 dollars to $700,000 dollars are having problems sending in that monthly check to their mortgage lenders. Families who were having trouble before are facing impending foreclosure while those who were secure are now having trouble making ends meet.

If you are currently unemployed, it's important to highlight your possible financial possibilities in the near future and how you are planning to handle your mortgage after the modification.

If you receive unemployment checks, your chances are higher to be approved that someone who is not. In some cases you get the same chances as someone with a job, depending on your debt to income ratio. If you bring in enough through unemployment and do not have many expenses, your chances for approval are significantly higher than otherwise.

Your best chance for getting mortgage modification while unemployed is for you to state your case in your hardship letter. The hardship letter tells the lender what is going on with you right now and why you can't pay your mortgage at the current interest rate. And on top of that, you let the lender know your plans for getting out of your financial troubles and how you're going to handle the payments once the modification is approved.

Lenders are looking for homeowners who are going to be able to pay the new mortgage rate after loan modification. Even if you're unemployed, the lender will still consider you if you show that you have a real intent to get back on your feet and work with them.

Some lenders, like Citibank, are even reaching out to homeowners who have lost their jobs and attempting to work with them towards lower interest rates to keep them in their homes. Foreclosure doesn't help anybody, and lenders know that more than anyone else.

Do you want to know how to get a mortgage modification while unemployed? Show you're confident you'll be on your own two feet again and tell your lender that you will do anything to stay in your home. It may just work.