What is the information that is needed in a typical loan Modification Financial worksheet?

*A typical loan modification financial worksheet (Or Assets Liabilites worksheet) will include:

• Contact Information
• Details of Property including estimated value
• Current monthly income
• Other sources of income (not wages) such as social security, child support, welfare, etc.

Estimated value of all assets

• Home
• Other types of real estate
• Checking and Savings accounts
• 401(k) accounts
• IRAs
• Stocks, Bonds, CDs
• Auto, Boats, RVs, etc.
• Other investments

Liabilities (monthly payments and balance owed)

• Dependent care / Child care / tuition
• Cable /Cell phone
• Other mortgage(s) / Rents/ Personal loan(s) / Credit cards
• Alimony - Child support
• Medical Expenses
• HOA fees /Taxes /Insurance
• Utilities
• Auto loan and incidental expenses (gas / maintenance)
• Tax liens

When filling out this information for your Lenders examination, make sure to complete all that apply. This will give the Lender a good overview of your present house hold expenses to consider in qualifying for a loan modification.