When you apply for a Bank of America loan modification, you will be required to complete the application called an RMA form.  This is a three page document that looks simple, but beware!  There are common tricks and traps that can cause denial unless you know exactly how this form needs to be completed.  In fact, the #1 reason for mortgage modification denial is this form not being completed correctly!

Here are some important things to remember when you begin completing the RMA form on your Bank of America loan modification:

1. Your application must show the bank acceptable monthly budget figures for your household.  The information you provide on page 2 of the RMA form will be used to determine if you qualify for a mortgage modification.  Make sure your monthly income, monthly household expenses and assets will all pass the guidelines.
2. One of the traps that homeowners fall into when preparing their RMA form is to not show enough monthly income-this is the #1 cause for Bank of America loan mod denial!  Make sure that the amount of
   

   Exact Requirements

   income you write down will be sufficient for the bank to qualify you.  You can determine exactly how much you need to show by running your figures through the loan modification calculator-this program is designed just for homeowners to help them complete their budget.

3. Another trick to avoid on the RMA form is how you list your monthly household expenses-you must show that you cannot afford the current mortgage because you barely make ends meet each month.  If you have too many expenses or not enough expenses you could be denied.  Double check your cash flow with the automatic calculations done by the loan mod calculator-then you will be able to make any needed adjustments before Bank of America reviews your application.
4. You must explain your financial hardship situation-there are four boxes to choose from on the RMA-loss or reduction in income, increased expenses, lack of reserves (savings) and high monthly debt obligations.  You can check more than one of these, and also give the bank a brief explanation of what has happened to you.  Loss of home value alone is not a valid reason for help.
5. Assets can often be a problem-you must pass this guideline too or you will not be approved.  Keep in mind that the Asset Ratio criteria tells the bank if you truly are in a hardship-verify if you pass by using the loan mod calculator to show you if you need to adjust any figures.

Ready, set, Approved!

The real trick to completing the RMA form when applying for a Bank of America loan modification is to know what your monthly budget figures need to be.  The lender uses a standard formula that takes into consideration your specific monthly income, expenses and assets.  You must pass this formula if you hope to qualify for the help you need.

Now you can get the REAL answers and REAL help you need-use the #1 selling resource for homeowners.  The Complete Loan Modification Guide kit and loan mod calculator are designed specifically for homeowners, and instantly compute

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and display your specific budget requirements.  Join thousands of homeowners who have succeeded.  Avoid mistakes-get it done right the first time.  Visit MyLoanModificationCenter.com and get started today.

How Much Income?

One of the important parts of the Bank of America RMA form is making sure that you pass the debt ratio guideline for loan modification approval.   This important approval criteria uses your monthly gross income as well as other information that you provide on the RMA form-so make sure you know how to complete it correctly.

RMA FORM-BANK OF AMERICA LOAN MODIFICATION DEBT RATIO REQUIREMENTS FOR APPROVAL

1. The information you provide on page two of the RMA will be used to determine if you pass the debt ratio requirement-the is the financial worksheet part of the application.  Make certain that the information you provide is acceptable.
2. Your gross household monthly income is the most critical part of the approval formula-you cannot show too much or too little if you wan to pass.  Your current monthly mortgage expenses-house payment, property taxes, homeowners insurance and any HOA dues totaled together-need to be higher than 31% of your gross monthly income.  If they are lower, then you are not a good candidate.
3. You can verify your own monthly income will pass the debt ratio
   

   Exact Requirements

   guideline by running your own budget figures through the loan modification calculator-this program will instantly compute and display your current debt ratio as well as show you how much monthly income you need to qualify.

4. Once you know how much monthly income you need to pass the debt ratio requirement, you also need to verify your monthly expenses are acceptable and that your assets pass the guidelines.  The loan mod calculator will instantly compute and display PASS or FAIL for all of these triggers, and show you where to fine tune your budget to make certain you pass.

The Bank of America RMA form is the key to getting approved for a loan modification.  Show the bank your perfect monthly budget figures and you will pass all of the guidelines-that is the only way to get offered the lower mortgage payment you need.  This is about math-not how deserving you are-so make sure you double check all of your budget figures with the loan mod calculator before you submit them for review.

Calculator Incl-Download immediately!

Get the real answers you need to complete your RMA form correctly-use the #1 selling resource for homeowners, The Complete Loan Modification Guide kit and loan mod calculator.  This proven system will compute and display your exact budget requirements for you to follow-avoid mistakes, get it right the first time.  Visit MyLoanModificationCenter.com today.

What is the secret to applying and qualify for a Bank of America loan modification?  It must be a secret, because so many homeowners get turned down for not preparing the RMA form correctly!  Nah, it’s not really top secret-you just need to know what to show the bank on your application form so that you prove you are the perfect mortgage modification candidate.

BANK OF AMERICA RMA FORM SECRETS TO APPROVAL

Approval Formula Info

1. Realize that this is all about the MATH, not how deserving you may be.  Homeowners make the mistake of not understanding the underwriting guidelines and so they slap their financial information together and assume the bank will want to help them-WRONG!
   
2. Take your time completing the RMA form-especially the Financial worksheet on page two. This is the meat-and-potatoes of the entire application process-get this part right and you have a very good shot at approval!
3. Key elements for Bank of America Loan Modification approval?  Gross monthly income, household monthly expenses and assets.  All of these figures must pass the underwriting approval formula.  Make certain all of your budget figures will be acceptable-double check yours by running them through the loan modification calculator first.  This
   

   Exact Requirements

   system was designed specifically to help homeowners apply correctly and computes the exact budget requirements for your specific situation.

4. Once you determine where your budget needs fine tuning by seeing the loan mod calculator results, make any necessary adjustments to your income, expenses and assets.  You may need more or less monthly income, or your expenses may need adjusting.  You need to know this ahead of time so that the figures you send in to Bank of America have the best shot of approval.
5. Complete your final RMA form using your adjusted budget figures-be ready to document any income that you list with paycheck stubs, bank statements, canceled checks, etc.

The RMA form for Bank of America does not have to be so intimidating-once you realize that you know the secrets for approval you can feel confident about submitting your application.  The loan mod calculator computes and displays the figures you need to know-so you can avoid costly mistakes and get it done right.

Calculator Incl-Download immediately!

Learn what you need to get approved-use the #1 selling system for homeowners, The Complete Loan Modification Guide kit and loan mod calculator.  This easy to use system will automatically compute and display your specific budget requirements-allowing you to know ahead of time just how to prepare your RMA form.  Visit MyLoanModificationCenter.com today for more information.

How important is the Bank of America RMA form?  It’s is SO critical to get this form completed correctly because it holds the KEY to your approval-no exaggeration!  In fact, the top reason for loan modification denial is due to the incorrect information being provided on this form.  Here is some important information to help you avoid this top loan mod mistake.

RMA tips

BANK OF AMERICA RMA LOAN MODIFICATION FORM KEYS to SUCCESS

Verify that your monthly expenses show Bank of America that you are in a hardship situation, and even though you have cut down to the bare bones, you still cannot afford the current mortgage payment.  You current cash flow after you pay all of your bills each month should demonstrate a

Guidelines Displayed

hardship-use the loan modification calculator to figure this out for you and show you where to make any needed adjustments.

Remember, even the most deserving borrower will be turned down for a loan workout if they cannot prove in black and white on the RMA form that they fit right into the program guidelines.  Knowing ahead of time just what is required to show the bank is the key to approval.

Thousands of homeowners have already been approved for a loan workout-you can too.   Get the real answers you need with the #1 selling

Proven Results-Download immediately!

resource for homeowners.  The Complete Loan Modification Guide kit includes the powerful loan mod calculator which instantly computes and displays your own specific budget requirements so you can complete the RMA correctly.  Visit MyLoanModificationCenter.com today and get started now.

Confused and frustrated trying to figure out the Bank of America loan modification guidelines?  Don’t feel alone-most borrowers have no idea about how to actually pass the bank’s requirements for approval and so they usually fail.  Here is some helpful, easy to use information that could make the difference for your loan mod chances.

BANK OF AMERICA LOAN MODIFICATION GUIDELINES-4 STEPS

1. Step 1:  Work on your monthly budget figures ahead of time-this is critical because the information you provide on the RMA form about your income, expenses and assets will be used by the bank to determine if you qualify or not.  This is not the time to guess at what they need to see!  Since there is a standard formula used on each and every application, you can use this same formula on your budget to avoid mistakes.
2. Step 2:  Once you have itemized all of your household monthly
   

   Guidelines Displayed

   income, monthly expenses and assets, double check your figures by running them through the loan modification calculator.  This program was designed specifically for homeowner use-the program will instantly compute and display the results and show if you are Passing or Failing.
   

3. Step 3:  Fine tune your budget figures until you are passing the approval formula on the loan mod calculator.  You may need to increase or decrease your household income, or make adjustments to your expenses in order to fit right into the approval formula.  Keep in mind that you will be required to prove any extra income you list on your application-but it is better to know ahead of time what Bank of America needs instead of getting turned down and not knowing why!
4. Step 4:  Now, take your fine tuned budget figures and transpose those onto the RMA application.  You will need to also provide a signed 4506t and a Dodd Frank Certification. Send these four forms along with your income verification to the bank with confidence-you have done your homework and have increased your chances of approval!

Approved!

While no one is guaranteed a Bank of America loan modification, thousands of homeowners have been approved because they proved that they fit into the approval guidelines.  You can be successful if you take a bit of time to work on your application ahead of time and take advantage of the tools that are available to help you.

Get the REAL answers and REAL information you need with the #1 selling resource specifically designed for homeowners.  The Complete Loan Modification Guide kit includes the powerful, easy to use Loan Modification Calculator.  Don’t guess

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at what to show the bank-get your own specific income, expense and asset requirements computed for you automatically.  Visit MyLoanModificationCenter.com today and get started now.

HELP!

How do you know if you are filling out the RMA form for Bank of America loan modification correctly?  The standard application form requires borrowers to itemize their monthly budget by listing their monthly income, monthly household expenses and assets.  What does the bank do with this information?  Everything on the RMA form is used to determine if the homeowner qualifies for a mortgage modification-that is why it is critical to make certain the correct figures are shown.  This is where using the loan modification calculator can be a big assistance.

How do you know if your  monthly income is going to pass the Bank of America guidelines-if you show too much or too little income you will be denied.  The same goes for your household expenses-groceries, utilities, car payments, insurance must all fit into the approval formula.

WHAT THE LOAN MODIFICATION CALCULATOR COMPUTES FOR YOU:

1. INCOME: Input your gross household income and automatically the
   

   Budget Calculated!

   debt ratio-both front and back-will be computed and displayed.  You will see your 31% target payment amount, and if you are passing or failing the waterfall method.

2. ASSETS: Type in the amount of liquid reserves you have-checking, savings, money market accounts (not retirement accounts).  The loan mod calculator will compute and display PASS or FAIL for the Asset Ratio guideline.
3. EXPENSES: Itemize your monthly expenses using the Worksheet provided-then simply input those numbers into the Calculator-your Current Cash Flow will compute and display-negative or positive.  The goal is to show Bank of America that you cannot make ends meet now with your current mortgage.
4. PROPERTY VALUE-LTV: Input the estimated current market value of your home-be conservative, remember if the bank takes the home back they will sell it for undermarket as a distressed property.
5. CURRENT MORTGAGE TERMS-!st & Second loans:  Here is where you show the current P & I payment for your mortgage as it is now-and well as the current loan balance (include past due payments but not penalties, late fees to arrive at the right amount)  List your monthly property taxes, homeowners insurance and any HOA dues in their own category.
6. WATERFALL METHOD OF MODIFICATION: The loan modification calculator will instantly compute the new target payment amount and display the new loan terms needed to reach that payment.  The new interest rate, 30 or 40 year term, and if any Principal Reduction is going to be needed (and the exact amount of reduction required).
7. NEW CASH FLOW: The loan mod calculator will also compute your NEW cash flow after the loan mod-proving to Bank of America that you can afford to pay and maintain the new modified mortgage.

Perfect RMA!

All of these calculations are important-you need to know ahead of time just where your budget may need adjusting so that you can submit a perfect RMA form for review.  Passing all 7 of these triggers is the only way to give yourself the very best shot at approval!

Don’t guess-get the real answers you need-use the #1 selling resource for homeowners.  The Complete Loan Modification Guide kit includes the powerful loan mod Calculator-the proven tool to complete the RMA form

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correctly.  Find out how much income, expenses and assets you need-avoid costly mistakes and get it right the first time.  Visit MyLoanModificationCenter.com today.

RMA Tips

Homeowners need to know the specific income requirements when they complete the RMA form Bank of America loan modification application.  This is one of the most important parts of the entire review process, and knowing ahead of time just what the bank needs to see on this form will help you prepare it correctly.  Learn how to find out the right amount of monthly income to show on your RMA form.

BANK OF AMERICA LOAN MODIFICATION INCOME REQUIREMENTS-STEP BY STEP

1. Write down your monthly budget figures using the WORKSHEET – break down the monthly income- Gross and Net, as well as all of your monthly expenses such as your mortgage, car payments, utilities, groceries, insurance, etc.
2. Input these numbers into the matching categories on the loan
   

   Specific Income Displayed

   modification calculator-this program will automatically compute and display if your figures are passing or failing the approval requirements.

3. Check your results-make the necessary adjustments to your monthly income-either higher or lower-until you see that your figures are passing the approval guidelines on the loan mod calculator.  The goal is to pass the 7 triggers-you may need to adjust your monthly budget to accomplish this.  Once you have the specific amount of required income, the calculator will show that you are passing.
   
4. Now, use your fine tuned budget figures to complete the RMA form Bank of America loan modification application.  Submit this correct information to the bank for review.
5. Be prepared to provide proof of the income you list on the RMA form-you may need a room mate or second job to show the right amount of required income as displayed on the loan modification Calculator.

Most homeowners guess at how to complete their monthly budget and complete their RMA form all wrong-this results in getting turned down for the help so desperately needed!  Since the bank uses a standard mathematical formula for everyone-why not use this very same formula with the loan mod calculator doing all the figuring for you?  You can know ahead of time what you need to show, and provide the bank with an accurate and acceptable application the first time.

Get the real answers you need-The Complete Loan Modification Guide kit

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includes the powerful and effective Loan Modification Calculator that will instantly compute and display your very own specific income and budget requirements.  This is information you need to know-get started right by using the #1 resource for homeowners-visit MyLoanModificationCenter.com today.

HELP!

Scratching your head trying to figure out how to complete the RMA form Bank of America loan modification paperwork?  Although this form is only 3 pages long, it holds the key to your approval-what you need are some real answers and real help to make sure that you complete your RMA correctly-now is not the time to guess at what the bank needs to see from you!

Every borrower who applies for a Bank of America loan modification will be asked to complete a RMA form.  While this may seem simple enough-only 3 pages long-the information you write down on this form will be carefully analyzed and used to determine if you qualify for a lower mortgage payment or not!

Real Answers & Real Help to Complete RMA Form

1. Do not disclose any of your financial information to Bank of America until you have had the chance to work on your monthly budget ahead of time!  If you have already provided your income, expenses and assets, then you may need to update your application with revised information to qualify.
2. Take your time completing Page 2-this is the Financial Worksheet-where you detail your monthly income, monthly
   

   Budget Requirements Computed

   expenses and assets for the bank’s review.  This is tricky-you must show just the right amount of income to qualify-too much or too little will cause instant denial!  You can double check your own income requirements by running your figures through the loan modification calculator ahead of time-then make your adjustments before submitting.

3. Double check that your monthly household expenses prove that you cannot afford the current mortgage payment-you should be barely breaking even each month or going into the red.  However, your expenses must also prove that after you get a loan mod, you will have a small amount of money left over each month as a cushion.  This is called cash flow-double check your expenses and cash flow by using the Loan Mod Calculator.  You may need to adjust your family’s expenses to pass this requirement.
4. Make sure that you can prove any income that you put on the RMA form-Bank of America does allow for non-borrower contribution as long as you can prove that you actually receive it each month.  If you are self employed, then provide a YTD P & L and bank statements to prove deposits.

Perfect RMA form!

All of this may seem daunting-and with so much on the line you do NOT want to make a mistake that could cause your Bank of America loan modification to be denied.  The secret is to know ahead of time just how to put your monthly household budget on the RMA-the right amount of income, expenses and assets are critical.

Get the real help and real answers you need-use the #1 resource for homeowners, the proven program, The Complete Loan Modification Guide kit and Loan Mod Quick APP calculator.  This system provides you with everything  you need to know-the loan mod calculator instantly computes

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and displays your own specific income, expense and asset requirements.  You can use this information to increase your chances of approval!  Get started now-visit MyLoanModificationCenter.com.

Want to know the right way to complete the RMA Bank of America loan modification form?  Yes, there is a right and a wrong way-and if you don’t understand exactly what the bank will be looking to see on your application, you could be sabotaging your chances of approval!  Here are a few easy, simple steps to follow to ensure that your paperwork will meet the approval criteria.

Apply the Right Way

RMA FORM 1-2-3 STEPS TO FOLLOW:

1. Never disclose your financial information until you have had the opportunity to work on your monthly budget ahead of time.  It is critical that the information you provide Bank of America about your income, expenses and assets are going to pass the guidelines for loan mod approval.
2. Page 2 of the RMA form is a detailed accounting of your finances-this is the financial worksheet and here is where you will list your household monthly income, monthly expenses and assets.  This is the very information the bank uses to determine if you qualify so be very careful!  If you list too much income or too low income figures, you will be instantly denied.  Your monthly expenses must also pass the formula and your assets must be acceptable as well.
3. Verify your budget will work!  You can verify that all of your figures will fit right into the program by running them through the powerful
   

   Sample Budget Displayed

   loan modification calculator-you will immediately see Pass or Fail-and then you can make the required adjustments in order to pass every approval trigger.  You may need to fine tune your figures-more or less income, more or less expenses-but since you can make these changes before the bank reviews your RMA, you will greatly increase your chances of approval.

Do you know how important the information you provide on the RMA Bank

Perfect RMA Application!

of America form is?  It is literally the difference between Approval and Denial!  Good news for homeowners who use the loan mod calculator and take the time to fine tune their own budget figures ahead of time-then you can feel confident that your application has been prepared correctly and that you are the perfect loan mod candidate.

Proven results-real answers and real help are what you need: use the #1 best selling resource online for homeowners.  The Complete Loan Modification Guide kit and Loan Mod Quick APP calculator give you the critical information you need-specific income, expense and asset

Proven Results-Download immediately!

requirements that help you prepare your RMA correctly the first time.  You can get started right away-visit MyLoanModificationCenter.com for more information.

How Much Income?

When you complete the RMA form for Bank of America loan modification, you will need to itemize your monthly income, monthly expenses and assets for the bank’s review.  Based on this information, you will either qualify or be turned down-learn just what income is acceptable and how to complete your RMA form correctly.

EXCLUDED INCOME-BANK OF AMERICA RMA FORM

1. Income tax refunds
2. Non borrower non-household income
3. Grants, including mortgage assistance payments
4. Severance payments
5. Unemployment benefits

ALLOWABLE INCOME-BANK OF AMERICA RMA FORM

1. Wages and salaries, overtime pay, commissions, fees, tips, bonuses, housing allowances and or other compensation for personal services
2. Social security payments, food stamps, adoption subsidies, including those received by adults on behalf of minors or by minors for their own support
3. Monthly income from annuities, insurance policies, retirement funds, pensions and disability or death benefits.
4. Rental income and other miscellaneous sources of income.
5. Non borrower income is allowed if the non borrower resides in the home and can document evidence of monthly contribution to household

If only net income is available, Bank of America will multiply the net ncome amount by 1.25% to estimate the monthly gross income.  All non-taxed income, including social security income, is considered net income.

Income, Expense, Assets Computed for You

Homeowners must submit the RMA along with evidence of their income as noted on the financial worksheet.  Too much income to too little monthly income will be cause for loan modification denial.  This is tricky to figure out, but homeowners can use the loan modification calculator to automatically compute the required income, expenses and assets.  Then use this critical information to fine tune the budget to increase the chances of passing the guidelines for allowable income.

Get the real help and real answers you need to prepare your RMA form Bank of America loan modification application-use the #1 best selling resource for homeowners.  The Complete Loan Modification Guide kit and Loan Mod Quick APP calculator provides the information you need-the

Best Seller-Download immediately!

powerful system includes the loan mod calculator that will instantly show your specific requirements for income, expenses and assets for your RMA form.  Do it right, avoid mistakes-visit MyLoanModificationCenter.com and get started immediately.