Are you making a mistake on the Bank of America RMA form?  This loan modification application looks simple, but in fact it is the #1 reason that borrowers are turned down.  When you fill out the RMA, it is critical that you show the right amount of monthly income, monthly expenses and assets in order to fit right into the program guidelines.  Here are some tips to help you do this.

RMA Tips


  1. First of all, don’t rush through this-take your time so that you can avoid mistakes and show the bank exactly what they are looking to see.
  2. The RMA form is only 3 pages long-but Bank of America carefully analyzes this information and uses it to determine if you qualify or not.  This is your chance to paint the picture for the bank, and prove to them in black and white that you are the perfect loan mod candidate.
  3. Page 1 is fairly straight forward-this is your personal information such as date of birth, social security #, etc.  There is also a Hardship Affidavit on the bottom that gives you choices to describe your situation-loss of income, increased expenses, lack of reserves, high debt.  You can also give a Brief explanation what has happened.
  4. Page 2 is CRITICAL-this is the monthly budget worksheet and here is where you must prove that you are a good candidate for a Bank of America loan modification.  The monthly income, monthly expenses and assets must be shown correctly-if you put down too much or too little income then you will be automatically denied.  You can double check your budget figures by running them through the loan modification calculator first-then make the necessary adjustments to fit right into the guidelines.
  5. Verify that all of the information on the RMA form proves in black and white that you are meeting the approval guidelines.  Your

    Income,expenses Calculated

    monthly budget figures must pass the approval formula that Bank of America uses-be sure to use the loan modification calculator to verify that you are showing the right amount of monthly income, monthly expenses and assets. Your debt ratio, cash flow and other approval triggers will automatically display for you.

Why do most homeowners fill out the RMA form wrong?  It’s simple-they do not know the formula used for approval.  It’s all about the math-either you fit the mathematical formula or you don’t.  Make sure that you fit right in and prove that you are the perfect loan mod candidate.

Complete your Bank of America RMA right the first time-use the #1 resource for homeowners-The Complete Loan Modification Guide kit and

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Loan Mod Quick APP calculator.  This powerful tool gives you the real information you need-and provides you with specific income, expense and asset requirements for your situation.  The loan mod calculator helps you avoid mistakes-an increases your shot at getting approved.  Visit for more information.

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