Homeowners who need to lower their monthly mortgage payment need to prepare and submit required Chase loan modification forms so that the bank can review their situation for eligibility. This paperwork must be completed by the homeowner so that the lender will be able to determine if a loan mod is a possible solution to avoid foreclosure. Here is some helpful information about the required loan modification forms and how to apply correctly.
Chase Loan Modification Forms:
- RMA- Request for Modification and Hardship Affidavit is the official 3 page application that must be completed. This form includes your personal information as well as a detailed accounting of our monthly budget – your income, expenses and bank balances. This is the most critical part of the form because your income must be sufficient to fit into the standard approval formula.
- 4506T- This form is used by the lender to verify your federal tax return information
- Dodd Frank Certification: signed by the borrower stating that they have not been convicted of a mortgage related felony in the last 10 years
- Hardship Letter: a brief explanation signed by the homeowner explaining what has happened to cause the current mortgage to be unaffordable. Ideally one page long, with details about loss of income, increased expenses, lack of cash reserves or excessive debt obligations.
The Chase loan modification forms must be prepared accurately and so that the homeowners information proves that they fit right into the loan mod guidelines. This means that the monthly income, monthly expenses and bank balances all fit right into the program guidelines. You can run your figures through the loan modification software calculator to make certain you are passing the triggers before submitting your final application. You will also have to provide proof of your income, pay check stubs, bank statements, tax returns, rental agreements or award letters.
Need help with your Chase loan modification forms? Make sure you complete your application correctly, use the #1 resource for homeowners, The Complete Loan Modification Guide kit – includes the Loan Modification
Software calculator, all required forms and detailed step by step directions. The calculator automatically generates your very own sample monthly budget to help you fine tune your monthly expenses correctly. Visit MyLoanModificationCenter.com for more information.