Most lenders have a specific modification package they’ll send to you. However, there are some lenders who don’t have one and you may be with such a lender. If that’s the case, you’ll have to put together your own package.
The Major Parts of a Good Loan Modification Application:
Primary Documents:
A Hardship Letter – This lets the lender know why you’re in this situation, and what you plan on doing about it.
An Income and Expense Statement – Usually, this document will be supplied by the lender, but we’ve included a statement you can use if necessary.
Supporting Documents:
Pay stubs – One month’s worth of pay stubs is sufficient.
W-2’s for the past two years.
Tax returns for the past 2 years.
Financial statements, if self employed.
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