Foreclosure Prevention tips - a few important things to confirm before submitting loan mod pckg

If you are getting ready to submit your Loan Modification on your own you may want to double check a few things before submitting your package:

1) Typically the lender will want your most recent tax return.  Make sure you sign page 2.   Our clients forget this page all of the time.

2)  Make sure you have a hardship letter SIGNED AND DATED!!.  

3) 30 days paystubs  two months bank statements ALL PAGES 

You will also want to put your loan # on EACH AND EVERY PAGE...
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Each lender has different requirements so make sure and call before submitting. 

This is probably the most important:  Call your lender on day 3 or 4  after submitting your loan mod to confirm receipt of the package. 


  • September 05 2011 - Livermore
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Answers (3)

Profile picture for shapiroamg
Is there a question in your post? This is an Advice area.
  • September 06 2011
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Profile picture for Dunes....
The Realtor/Secretary.Assistant who is hoping to someday be a Paralegal/Legal Assistant figures this is Advice.....Advice needed in the Mortgage Section ;)

The Short Sale Attorney Crap is just that...Crap

  • September 06 2011
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If your applying for Hamp you will need to submit the Dodd Frank form

when you submit your 4506t make sure you call your server first to double check what box you should check.

Chase wants you to check on box 6 c and aurora wants a different box check.

Typcially the reason homeowners are denied most often is paperwork that is out dated or not signed and dated.

For homeowners who are facing a financial hardship there is home lenders are now doing 2 NPV worksheets,

once at the current market value and a second one at the balance you owe.

The goal for hamp is to be able to get you to 31% of your gross income.  If your Net Present Value positive.

Per CA Civil Code 2923.6 services are required to maximize your net present value vs doing a short sale.

If you want to keep your home instead of short selling it there are options. 

Best of luck. 
  • February 23 2012
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