Documents You Will Need

Are you struggling to make your mortgage payments?

When you apply for a loan modification, your lender will typically request certain documents to help them determine if you are eligible for a modification and to understand your financial situation. The specific documents required may vary depending on your lender and the type of loan you have, but some common documents that you may be asked to provide include:

Proof of income: This may include pay stubs, tax returns, or other documentation showing your income from employment, investments, or other sources.

Proof of expenses: This may include bills, receipts, or other documentation showing your monthly expenses, such as rent or mortgage payments, utility bills, credit card payments, and other debts.

A hardship letter: This is a letter that explains the circumstances that have led to your inability to make your mortgage payments. It should detail your financial situation and explain why you are seeking a loan modification.

A financial worksheet: This is a form provided by your lender that you will need to fill out to provide information about your income, expenses, assets, and debts.

Other documentation: Depending on your situation, your lender may request additional documentation, such as a bankruptcy filing, divorce decree, or medical bills.

It’s important to note that the documentation requirements may vary depending on your lender and the type of loan you have. It’s always a good idea to check with your lender to find out exactly what documentation they will need in order to process your loan modification request.