Residential Real Estate
Believe me, there are millions of homeowners in the same scenario. Your Loss Mitigation Specialist will send you a detailed packet to fill out and return or schedule a meeting if they’re nearby. You will want two months of bank statements, two months of verify stubs and two years of your federal tax returns.
In a mortgage modification, the lender or bank doesn’t check your credit rating or history. Your present state of affairs is all that matters and they’re keen to work together with your present earnings, expenses and explanation why you could have fallen behind on your mortgage agreement. A loan modification is a permanent scenario, not temporary, so be sure that it is possible for you to to meet new terms agreed to. Sometimes a loan modification can be done with out an attorney. The larger financial establishments now have a Loss Mitigation Division …