Mortgage Modifications Plus frequently asked questions...???
What is a loan modification?
A loan modification is permanent change in one or more of the terms of an individual’s loan. This also allows for the loan to be reinstated and the foreclosure process to be stopped.
Do I qualify?
1. I want to retain ownership of my home
2. I have a source of income which I can document
3. I have or will experience a hardship that will affect my ability to make my monthly payments
Qualifying Hardship:
---* Personal - * Accident - * Economic - * Illness - * Death - * Divorce - * Injury - * Loss of Employment
Things You will Need:
--- *Hardship Letter - *Bank statements - *Tax returns - *Proof of Income
----*Homeowners policy declaration page - *Current tax bill - *Drivers license - *Social security card