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Here are the documents that your bank will need to process a loan modification. If you would like free copies and samples of all the documents listed below please send me a request and I will email them to you: Send me documents FINANCIAL WORKSHEET - Provides a quick snapshot of the overall financial information for both the borrower and co-borrower. Must be fully completed with most current and accurate information.
EXPLANATION OF FINANCIAL - This form allows you to explain in detail the reason(s) behind your current financial situation. In addition to filling out this form, you will need to provide proof of your hardship claim, such as medical bills, death certificate unemployment stubs. MORTGAGE COUPONS AND RECENT LENDER CORRESPONDENCE - This will provide the most recent items received, this provides us with an accurate picture of the standing of your mortgage loan. PROOF OF INCOME - For W-2 employees, two most recent payroll stubs for the month most recently worked. For self employed borrowers a year to date Profit and Loss Statement. COPIES OF THE TWO MOST RECENT FEDERAL INCOME TAX RETURNS - Please provide copies of the originals, signed and dated. Please provide all schedules. For incorporated self employed borrowers we will require two most recent corporate returns as well. COPIES OF TWO MOST RECENT BANK STATEMENTS & ASSETS - Please provide all accounts and should contain all pages. Assets should include retirement accounts, CD’s, Stocks Etc.
Actual Copies of your Monthly Expenses are Optional. Do not include them unless you are asked to. COPIES OF MONTHLY EXPENSES - Please provide copies of any and all monthly expenditures. These should include utility bills (HOA, electric, gas), insurance bills (car, home, health), credit card statements, child care, home maintenance.
PLEASE BE ADVISED THAT EVERY CASE IS UNIQUE, ADDITIONAL TIMES MIGHT BE NEEDED DEPENDING ON YOUR SITUATION. |
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