Loan modification checklist

The process of getting a loan modification can be very complicated. Along with the legal issues involved, you need to understand that lenders are going to do everything in their power to make sure they make as much money from you as possible.

It is really in your best interest to have a professional on your side during the negotiating process. It could literally save you hundreds of dollars each month or tens of thousands of dollars over the course of your loan and take away the burden and the stress of trying to do this yourself.

Time is against you on this and the longer you wait the more it could cost you. It can even result in the loss of your home.

The last thing a lender wants to do is wade through a pile of paper work being sent to them a few pages at a time. If you omit something, your application will be backed up and the whole process will be slowed down. In fact, many lenders won’t even look at your case until all of your paperwork is organized and all in one place.

To help expedite the process you should make sure to get the following items in order;

• Mortgage Statements
• Hardship Letter
• Correspondence from Lender or Attorney
• Creditors List with Account Numbers
• Proof of Income
• Copy of Any Assets
• Driver’s License
• Social Security Cards
• Copy of Homeowners Insurance Declarations
• Annual Real Estate Tax Assessment
• Loan Docs signed when refinancing/purchasing your property
• Final HUD-1 Settlement Statement