Documents/Items Needed For a Loan Modification

 

Lenders will want to see all income, expenses and savings. We will give you a list of documents needed but keep in mind to keep all correspondence (even the envelopes) from lenders. That includes anything that you have unopened from the lender. Don't throw away envelopes from the servicer.

 

Remember to collect everything that relates to income and expenses. If your income is very sporadic, support your story by showing how you're getting paid so we can calculate an average over time. Remember to list all expenses including utilities, auto payments, credit cards, student loans, child support, medical bills and ALL cash expenses. Don't forget the winter and summer heating and cooling bills. You need to also include everything that documents why you fell behind. An employer's notification of reduced hours or a layoff, an invoice for an auto repair or a furnace replacement, a shutoff notice from a utility.

 

If you look at it from the lender's point of view it's very logical. They want to know how and why you got behind? Do you have the ability and willingness to repay the loan? How much can you realistically afford to pay? Does it make sense for the lender? If we work together we can get a resolution that works for you.

 

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