The only way to get approved for a Chase loan modification is to PROVE to the bank that you fit right into the approval guidelines-but that is hard to do if you DON’T KNOW what you need to prove to qualify. Here is the MOST important thing that you need to do: learn exactly how to complete your application BEFORE you submit it for the bank’s review. But how can you find out this very important information?
It is possible to learn just what you need to report on your Chase RMA application form so that you can easily PROVE that you qualify for help. Here are some simple steps to take before you submit your loan modification paperwork:
- Really work hard on your budget figures-page two of the RMA form require you to list your household income, expenses and assets-this is the MOST important part of the entire process-don’t rush and make sure you are reporting acceptable figures.
- Verify that your monthly income will pass the guidelines-you may need more income to pass, or sometimes LESS income! This is critical to know-your debt ratio and even your new loan terms are decided by this important income figure! You can check ahead of time to find out what you need to prove-run your income through the Loan Mod Calculator and see what adjustment may need to be done
- Confirm your current cash flow and expenses qualify you for a Chase loan mod. You may need to make some adjustments to your expenses to pass this criteria-even a small change can make the difference. Use the Loan Mod Calculator to find out exactly how to fine tune your figures and then use the perfected figures on your RMA form.
- Once the Loan Mod Calculator shows that you PASS for income, expenses and assets, you will need to supply PROOF of the income reported. Pay check stubs, bank statements, P & L for self employed borrowers, rental agreements will all work. You can get a sample P & L if you are self employed along with the Loan Mod Calculator.
It’s simple-learn what you need to prove to Chase to get approved for a loan modification – then SHOW THEM WHAT THEY NEED! You don’t have to guess or try to figure this out by yourself-the bank uses the standard federal formula, and the Loan Mod Calculator mimics this same formula, so you get the inside info you need in order to make sure you pass all the approval guidelines. Most borrowers get denied for one reason-they DID NOT show CHASE the right financial information-don’t make this same mistake on your RMA application form.
Need some real answers to apply correctly? Use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Mod Calculator. This system
was designed specifically for borrowers-it will automatically compute and display your own specific budget requirements. Find out how much income, expenses and assets you need to prove in order to qualify for help. Visit MyLoanModificationCenter.com and get started now.