In todays "Shabby Financial Loan Market" it can be abit confusing trying to make sense of Loan Modifications. This information provided here today aims at clearing up any confusion you may have on the subject.
1. What is a loan Modification? This is where the Lender (or Mortgage Company) agrees to Modify your home mortgage, so that it works with your present house hold income.
An essential document that will be needed for the Lender (or Mortgage Company) in order to process your request will envolve a most recent Financial Statement (or Assets & Balance Sheet)
It is pertenent that this document be filled out correctly as not to ovestate nor understate your present financial situation. The lender will be looking to see if you can still afford to keep the home, so you must be employeed and if you are not don't reveal this on your financial statement!
Yes! you heard me right, use income projections
To find out more about how a loan modification can save your home
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