www.freemodificationhelp.com Click here for a FREE loan evaluation in Southern California: ocgoldmine.com Having a complete and organized modification package is vital to the success of being approved for a modification. According to the Treasury's Making Home Affordable Servicer Report, lenders claim that "missing documents" is one of the main reasons for denial. We will cover the other reasons for denial in other videos. Keep in mind that this video applies to the majority of servicer "non portfolio" loans. In other words, your lender is only the "servicer" of the loan and there is an investor of your "note." Some portfolio loans that meet certain criteria have a fast track process which reduces the number of documents needed. Lenders such as CitiMortage and GMAC have programs available for certain loans. Your lender may be willing to share your loan type. Again, this video applies to most "non portfolio" loans. Your servicer's website will provide a list of documents that will be needed to consider your application. Make sure to double check with a live representative from the bank that the list matches what they will need. Most lenders will require the following: 1. RMA form (Request for Modification Affidavit) 2. DODD Frank Certification Form 3. Signed hardship letter 4. Proof of income for past 2 pay periods 5. Copies of last 2 bank statements (all accounts) 6. Copies of last 2 full tax returns with W-2's and 1099's 7. IRS Form 4506T We will cover the basics of a ...
Saturday, July 7, 2012
Loan Modification Help :Tips for submitting a loan modification package
Loan Modification Help :Tips for submitting a loan modification package Video Clips. Duration : 7.45 Mins.
www.freemodificationhelp.com Click here for a FREE loan evaluation in Southern California: ocgoldmine.com Having a complete and organized modification package is vital to the success of being approved for a modification. According to the Treasury's Making Home Affordable Servicer Report, lenders claim that "missing documents" is one of the main reasons for denial. We will cover the other reasons for denial in other videos. Keep in mind that this video applies to the majority of servicer "non portfolio" loans. In other words, your lender is only the "servicer" of the loan and there is an investor of your "note." Some portfolio loans that meet certain criteria have a fast track process which reduces the number of documents needed. Lenders such as CitiMortage and GMAC have programs available for certain loans. Your lender may be willing to share your loan type. Again, this video applies to most "non portfolio" loans. Your servicer's website will provide a list of documents that will be needed to consider your application. Make sure to double check with a live representative from the bank that the list matches what they will need. Most lenders will require the following: 1. RMA form (Request for Modification Affidavit) 2. DODD Frank Certification Form 3. Signed hardship letter 4. Proof of income for past 2 pay periods 5. Copies of last 2 bank statements (all accounts) 6. Copies of last 2 full tax returns with W-2's and 1099's 7. IRS Form 4506T We will cover the basics of a ...
www.freemodificationhelp.com Click here for a FREE loan evaluation in Southern California: ocgoldmine.com Having a complete and organized modification package is vital to the success of being approved for a modification. According to the Treasury's Making Home Affordable Servicer Report, lenders claim that "missing documents" is one of the main reasons for denial. We will cover the other reasons for denial in other videos. Keep in mind that this video applies to the majority of servicer "non portfolio" loans. In other words, your lender is only the "servicer" of the loan and there is an investor of your "note." Some portfolio loans that meet certain criteria have a fast track process which reduces the number of documents needed. Lenders such as CitiMortage and GMAC have programs available for certain loans. Your lender may be willing to share your loan type. Again, this video applies to most "non portfolio" loans. Your servicer's website will provide a list of documents that will be needed to consider your application. Make sure to double check with a live representative from the bank that the list matches what they will need. Most lenders will require the following: 1. RMA form (Request for Modification Affidavit) 2. DODD Frank Certification Form 3. Signed hardship letter 4. Proof of income for past 2 pay periods 5. Copies of last 2 bank statements (all accounts) 6. Copies of last 2 full tax returns with W-2's and 1099's 7. IRS Form 4506T We will cover the basics of a ...
