Freddie Mac: Information about Loan Modification
Freddie Mac has produced a brief video titled “Stop Foreclosure: Documents Your Lender Needs To Help You” via YouTube. For anyone right here in South Carolina who is speaking with their lender about a loan modification, this video is helpful and shows what documents are needed in the process. No doubt, lenders are busy with calls about loan modifications and this video will help people who need help with a loan modification be prepared for the process.
Documents Needed By Your Lender
- Paystubs that show your net take home pay
- A copy of your most recent tax return
- Any second mortgage or home equity line of credit statements that you have
- Get any other debts you have such as credit cards, car loans, etc and be sure to have the minimum payments and account balances available
- A recent copy of your mortgage statement
South Carolina Loan Modification: Hardship Letter
Think a hardship letter doesn’t matter? Wrong. A good hardship letter can make or break your case and will help speed up the loan modification process. A well written hardship letter that describes the “human story” can often be the key that makes the difference between your loan modification getting approved or denied – so don’t neglect it!
