Answer: If you are completing a do it yourself loan modification or short sale, here are the up to date forms you will need....
Loan Modification
- HAMP Affidavit download here http://www.makinghomeaffordable.gov/get-started/what-you-will-need/Documents/RMAFormRev0412.pdf
- 4506T form download here http://www.irs.gov/pub/irs-pdf/f4506t.pdf
- Monthly mortgage statement
- Information about other mortgages on your home, if applicable
- Two most recent pay stubs for all household members contributing toward the mortgage payment
- Last two years of tax returns
- If self-employed, the most recent quarterly or year-to-date profit and loss statement
- Documentation of income you receive from other sources (alimony, child support, social security, etc.)
- Two most recent bank statements
- A utility bill showing homeowner name and property address
- Unemployment insurance letter, if applicable
- Account balances and minimum monthly payments due on all of your credit cards
- Information about your savings and other assets
- It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.)
Short Sale
If you are interested in doing a short sale in which you are going to sell your home for less than what you owe, you will need all of the documents above PLUS
- Contract of Sales/Purchase Contract
- Proof of Funds for the Buyer or Mortgage Approval Letter
- Proposed HUD/Settlement Statement showing fees to be paid and the net to the lender. Download here http://www.hud.gov/offices/adm/hudclips/forms/files/1.pdf
- Listing Agreement
- MLS Listing
We have helpful tips on submitting loan mod applications and short sales in previous posts here and here.
If you have any questions or need assistance filling out the do it yourself loan mod or short sale applications, please email us at info@myforeclosureconsultant.com
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