In order to submit a modification application to your servicer, a series of forms and documents are needed. One of the key in obtaing a quick answer from the servicer/lender is to provide the most complete as possible modification package. There are rules known as guidelines which the servicer and lender institutions will follow during a modification process that is why it is important that before submitting a modification package this be as complete as possible.
Proof of Income
If pay weekly, last four consecuvite pay stubs
If pay bi-weekly, last two consecutive pay stubs
If self-employed, last three month profit and lost statement with:
Name of the Person for whom the P&L is for
Specifying the begining and end of the P&L
Gross Income
Detail List of Expenses
Total Expenses
Net Income
Last Two Months of Bank Statments with all Pages
Rental Income? Needs Rental Agreement, Proof of Rental Income for last two months (cancel checks from tenants or your bank statements with the rental income deposited)
Family Contribution? Name of contributor, family relationship, pay stubs, last year tax returns, proof of occupancy showing this person live with you
Hardship letter indicating the reason(s) why you fell behind making the payments.See more for a good hardship letter.
Proof of Occupancy: most recently utility bill (electricity, gas, telephone, etc.)
Copy of all your bills: credit cards, utilities, tel, cell, electricity, gas, auto loan, etc.
How much do you pay for?:
Food
Gasoline
Auto insurance
Last two years of tax returns (1040's) with the second page signed and dated with w-2's, 1099, etc.
Copy of most recent mortgage statement
If applicable, copy of second mortgage, credit line, other mortgages on other properties
