The Application For a Loan Modification

What is a Mortgage Loan Modification Application?

Keynote: All homeowners must complete a Loan Modification Application.  If you are unsure of which one call your bank and they will let you know whch application a homeowner should complete.

While there are many different loan modification applications the majority of banks ( most homeowners use the term bank or lender when the financial institutions they receive their mortgage statements from are actually called a Servicer) will require a borrower to complete the Request for Loan Modification and Affidavit (RMA). While this application is specifically for the Making Home Affordable Program (HAMP) it can also be used for many traditional and in-house loan modifications.   There are also a few banks that have developed their own customized versions of the RMA.

View all the loan modification documents and information
Loan Modification Main Page

 


loan modification application help

What you need to be concerned about with a Loan Modification Application.

These applications must be completed carefully and completely.  Missing any one section or even forgetting to check a box could delay your application a month or two.

It is a good idea to complete a financial worksheet prior to completing the application.  Your finances are the most important part of this so you need to have accurate information on hand.

Mant times a husband or wife may not actually be on the mortgage so technically should not be part of this application.  If you will be using all of their income (instead of part as a contribution) it is generally okay to include them.

The financial section, page two of the RMA, is obviously the most important section so make sure it is accurate.  We have income worksheets on our wedsite to help you calculate your monthly gross income.  The expense section on this loan modification application is poorly written and does not really contain enough space for all of your expenses.  In the last section named “Other”, include everything else together, untilities, food, gas, car insurance, cable, TV, cell phones and any other regular monthly expenses.

Where Can You Find a Total Loan Modification Guide?

At Hometitan we work with loan experts who provide a Loan Modification Toolbox with the most detailed instructions you can find, how to complete every form and every field of the loan modification application and all supporting documents.

 
 

Get The Loan Modification To Go Toolkit

So Well Designed It Has Your Work Done in Hours. Seriously.