Stop Foreclosure: Documents Your Lender Needs
Today, Freddie Mac released a new video aimed to help people who are in trouble with their mortgage and wondering about a loan modification titled “Stop Foreclosure: Documents Your Lender Needs To Help You“. With many people right here in Indiana calling their lender about a loan modification for their situation – this video should help explain what is needed. With the crush of phone calls from people inquiring about a loan modification, many lenders are swamped. This video does a good job of helping people be prepared in advance of calling their lender.
Indiana Loan Modification: Documents That Will Be Required
- A copy of your most recent paystubs that show your net take home pay
- Get any other debts you have such as credit cards, car loans, etc and be sure to have the minimum payments and account balances available
- A copy of your last years tax return
- A recent copy of your mortgage statement
- If you have a second mortgage or HELOC, a copy of that statement
Indiana Loan Modification: Don’t Forget The Hardship Letter
In addition to getting the above information, you want to be sure to include in the list a description of what kind of hardship caused you to fall behind on your mortgage payments. This will help speed up the loan modification process. Hardship letters bring out the “human story” that often can make the difference between your loan modification getting approved or denied – so don’t neglect it!
