There are millions of homeowners in America who are finding it very hard to cope up with the payment of the heavy installment amount of their home mortgage loan. With the initiative taken by the present government to modify the existing loans of the homeowners, many are trying to get their current home loan restructured so that they can comfortably repay the loan. Many want to have bank of America loan modification program approved. If you are one of them you should first of all know how to qualify and apply for this loan modification.If you follow some guidelines and tips, you will be able to find it easy to apply and qualify for the loan modification program of Bank of America. In fact you will have to meet certain requirements and it will be better to consider few things before you go for negotiating for the loan modification process. The first thing is to find out the requirements of the Bank, then read and understand it and look into the matter. This means you will have to find out whether you have some money in spare with you, as you will need them as down payment. Also find out your debt ratio and see whether it matches with the requirement option or not.Bank of America loan modification process has been simplified but the requirements are strictly monitored and unless until you fulfill them, you are not considered eligible. The next step is to file up the documents that are required in systematic order and arrange it in such a manner that when the bank officer reviews them, they come one by one as required and desired by him. If this process is simplified for them your application gets maximum chances of approval and if your documents are improper or incorrect, your application will be rejected then and there.While writing the hardship letter be sure that it is convincing, compelling and clearly outlines your financial condition and the real cause behind it. Remember one thing that every statement you give there will be verified and so it must have supportive documents so that when required you can produce them in support to your statements' authenticity. You will also have to give your monthly budget and for this you will have to submit a thorough data that has your monthly income and expenditure in it.