Confused about the correct way to complete your RMA loan modification Form?  There are certain things that your lender will be carefully reviewing on your application, so you need to sure that you have completed it correctly so that you have the best shot at approval.  Here are some tips on the best way to list your monthly household expenses when you prepare the financial worksheet.

RMA LOAN MODIFICATION FORM-WHAT EXPENSES YOU NEED TO LIST

Apply Correctly

1. The current mortgage payment-whether it is a fully amortized (principal and interest) or an interest only payment-show whatever the base monthly payment that you are required to pay
2. Do you have a second mortgage on the property?  If so, list that monthly payment amount.
3. Property taxes-even if they are currently impounded as part of the amount you pay each month, take your annual tax bill and divide it by 12, then list that amount as your monthly tax obligation.
4. Homeowners insurance, again take the annual premium divided by 12 months, equals your monthly obligation for this.
5. Credit card or installment payments-only list the minimum payment due, even if you sometimes pay more.  The bank will only budget you for the amount you are required to pay.
6. Alimony, child support payments should be listed on your RMA form financial worksheet page.
7. Rental Expenses-do you own rental properties? If so then list the mortgage, maintenance, etc expenses.
8. HOA Dues for the property you are applying for the loan modification need to be listed as an expense
9. Car Payment-only list those that you are responsible for and actually paying
10. Misc. expenses such as groceries, utilities, tuition, gasoline, transportation, health insurance, prescriptions can all be listed

Exact Requirements

The RMA loan modification form when completed correctly shows your lender that you are in a financial hardship situation, meaning that your current payment is not affordable.  Your monthly expenses are so high that you are barely making ends meet each month, and if they do not help you then you will be at risk of defaulting on the mortgage.  However, just as important is to show them that a loan mod will be a solution for your particular situation.  You need to make sure that the total expenses you list prove this-you can verify your current and proposed cash flow by running you figures through the loan modification calculator.  This program is designed specifically for homeowner use and it will instantly compute and display your own specific budget requirements.

Most homeowners do not understand how to complete their RMA form and so they get turned down for a loan workout.  Remember, it is up to you to prove to your bank in black and white that you are a good candidate for a loan mod.  The only way to do is to prepare and submit your monthly budget figures-income, expenses and assets-correctly and so that they pass all of your lender guidelines for acceptance.

Get the REAL help you need to succeed-use the #1 selling resource for homeowners-The Complete Loan Modification Guide Kit and Loan Mod Calculator.  This powerful system will automatically compute and display your own requirements for income, expenses and assets so that you can avoid mistakes and get it

Calculator Incl-Download immediately!

done right the first time.  Visit MyLoanModificationCenter.com today and get started now.

Loan Mod Forms

Homeowners who apply for a Chase loan modification will be asked to complete the application for submission and final review by the bank.  If you don’t know how to prepare these forms correctly, your chances of loan mod acceptance will not be very good.  Here are some common questions along with answers to help you prepare your own loan mod forms:

1. What Chase loan modification forms will I have to complete?  The application is called the RMA-it is three pages long and includes a Hardship Affidavit.  You will also be asked to sign a 4506t, a Dodd Frank Certification.
2. What information am I required to provide to the bank?  You must give them your residence, employment and other personal information as it affects the loan modification.  You must also provide an explanation about your hardship situation, and a detailed breakdown of your monthly income and monthly expenses, as well as your assets.  Chase will also require verification of your income, such as paycheck stubs, bank statements, P & L for self employed borrowers.
3. How should I complete the monthly budget form-how do I know how much income, expenses and bank balances I should have?  This is the
   

   Fine Tune your Figures to Pass

   trickiest part of the Chase loan modification application-and this is where most homeowners stumble.  You must show enough income to pass the Waterfall Method of Modification, too much or too little monthly income will be cause for denial.  Your expenses must also prove your hardship situation, and your bank balances must pass the Asset test.  You can get help figuring this out by using the Loan Mod Quick APP calculator, all of these calculations are done you automatically and show you if you are passing or not.

4. Do I include other household members on these forms, even if they are not on the mortgage?  You can use non-borrower income as long as they are contributing to the household and you can prove that you actually receive that money each month.
5. Can I resubmit new Chase loan modification forms if I have already been turned down?  Yes you can resubmit but the information on your application has to have changed-for example, more or less income, expenses, etc.

Guidelines Met!

Keep in mind that a Chase loan modification can only be given to homeowners who prove that they fit right into the program guidelines-this means that your income, expenses and assets are all acceptable and meet the criteria.  If you don’t know how to determine just what will be required, you can use the Loan Mod Quick APP calculator to do all the calculations and show you just where you may need to fine tune your figures before submitting your Chase application.

Get help to complete your Chase loan modification forms-use the #1 selling resource for homeowners-The Complete Loan Modification Guide kit and

Download immediately!

Loan Mod Quick APP calculator.  Step by step directions, required forms and the calculator automatically generates your sample monthly budget.  Visit MyLoanModificationCenter.com for more information today.

Loan Mod Forms

Homeowners who apply for a Citimortgage loan modification will need to complete the 3 required loan mod forms – but be careful because the information provided on these forms will be used by the bank to determine if you qualify or not.  In order to have the best chance of success and avoid the common pitfalls that cause denial, learn what these loan mod forms are and how you should prepare them.

Citimortgage Loan Modification Forms:

1. 4506T – This form must be signed by all borrowers and is used by the bank to get a copy of your federal tax return.
2. RMA – The official application form is the Request for Modification and Affidavit.  This 3 page form includes your employment and residence information, the nature of your financial hardship, and most important a detailed accounting of your monthly income, expenses and bank
   

   Sample Monthly Budget-Follow It

   balances.  Your income cannot be too high or too low or you will not fit into the loan mod guidelines for approval.  To make certain that your information is passing the guidelines, run your budget through the Quick App Loan Modification software Calculator to see where you may need to make adjustments prior to submitting it for review.

3. Dodd Frank Certification:  Signed under penalty of perjury you are stating that you have not been convicted of a felony involving mortgage related fraud in the last 10 years.

Remember, Citimortgage will carefully review your loan modification forms and use the information you provide to determine if you pass the approval

Guidelines Met!

guidelines.  The most common reason for loan mod denial is because homeowners did not know exactly how much monthly income they should show, or their monthly expenses were not acceptable.  You can save time and avoid mistakes by using the Quick App Loan Mod Calculator to double check you figures and make certain that you have the best chance of approval.

Get help to complete the Citimortgage loan modification forms.  Use the #1 kit that has helped thousands of homeowners, The Complete Loan

Download immediately!

Modification Guide kit and Loan Mod Quick APP loan modification software calculator.   You get step by step directions, all the required forms, and a sample monthly budget is automatically generated for you to follow.  Visit MyLoanModificationCenter.com for more information today.

Tips for Approval

Homeowners who wish to apply for a Wells Fargo loan modification will need to prepare and submit the required forms and paperwork for the lender to review.  The only way to get approved for a loan mod is to prove to the bank in black and white that you are an eligible candidate, and the information you provide to the bank on the loan modification forms will be the deciding factor on whether you qualify for help or are turned down.  Here is some information you need to know before you send in your paperwork.

Wells Fargo Loan Modification Forms – 3 Important Tips:

1. TIP:Never disclose your income, expenses and bank balances over the telephone until you have had the chance to run your figures through the loan modification software calculator.  If you tell the bank the wrong information it will remain in their system and could hurt your chances for approval.
   

   Sample Budget-Automatically!

2. TIP: Understand the standard approval formula used by Wells Fargo to determine which borrowers will qualify for a loan mod.  It is a mathematical formula that uses your gross monthly income, monthly expenses, bank balances, current mortgage information and the Waterfall Method of modification.  You must pass this formula or you will not qualify-the loan mod calculator will automatically figure your debt ratio, new target payment and new loan terms and show you just where you need to make adjustments to your budget in order to pass.
3. TIP: Be prepared to provide documentation for all income you put on the loan modification forms-this could be with paycheck stubs, bank statements, award letters or Profit and Loss Statements.  If you have a room mate you will need a rental agreement, canceled checks or bank deposits showing that you do receive the money.

Know the Qualifications

Most homeowners make the same mistake on their Wells Fargo loan modification forms-and this mistake will cause denial – the monthly budget information must prove in black and white that you fit right into the program guidelines.  Too much or too little income will not qualify, and your monthly expenses must also fit the guidelines.  This can be confusing to try to figure out without knowing the standard formula or using the loan modification software calculator to help you.

Make sure your Wells Fargo loan modification forms are completed for approval-use the best selling resource for homeowners, The Complete Loan

Download immediately!

Modification Guide kit and loan mod software program provides step by step directions, required forms and the software calculator generates your very own sample budget to follow.  Visit MyLoanModificationCenter.com for more information.

Apply Correctly

The Bank of America loan modification forms include an application which must be completed by homeowners who wish to apply for a loan workout.  This is a 3 page form called the RMA – Request for Modification and Affidavit.  The information provided on this form will be used by the bank to decide if the borrower qualifies for a loan mod, so it is important to take the time to complete it accurately and so that it is acceptable.

The required Bank of America loan modification forms also include a 4506T, and Hardship Letter and a Dodd Frank Certification.  Along with the RMA, these forms are provided in The Complete Loan Modification Guide kit and Loan Modification Software Calculator. Here are some tips on how to prepare the most important form correctly.

Bank of America Loan Modification Forms – Application:

1. The first page of the form includes personal information on the borrowers, job information, number of dependents, if you live in the home, have you filed Bankruptcy and do you wish to keep the home or sell it.
2. The bottom of the first page includes the Hardship Affidavit – there are 4 boxes that can be checked describing the acceptable financial hardship situations – loss or reduction in income, increased expenses, lack of savings or reserves and excessive debt obligations.  There are two extra lines to write an explanation, but it is recommended that you use a separate piece of paper to write a more detailed explanation.  This is your chance to gain Bank of America’s
   

   Work on your budget now

   cooperation, so compose a compelling description of what has happened to make the current payment unaffordable.  Be sure to date and sign this page, and include it with the application form.

3. The second page of the Bank of America loan modification application form is the most important part – this is the monthly budget or financial statement.  Here is where you will indicate the gross monthly income, monthly bills and expenses and current bank balances.  There is actually a standard formula that the bank uses this information in, and if the figures you provide fit the formula, you have a very good chance at approval.  Be sure your income, expenses and bank balances are correct by running them through the loan modification software
   

   Sample Budget-Automatically!

   calculator first – then you will know ahead of time if you need to increase or decrease any income or expenses to have the best chance at approval.

4. Provide copies of your 2 most recent paycheck stubs, a P & L if you are self employed, 2 months bank statements and any other type of income documentation – such are proof of room mate income, etc.
5. Make sure everything is legible, sign everywhere needed, write your loan number on top of each page.  Gather all of the Bank of America loan modification forms together, make a copy for your file, and then submit the entire package for review.  The process usually takes between 30-60 days.

If you need help preparing your Bank of America loan modification forms correctly, use the #1 resource for homeowners The Complete Loan Modification Guide kit and Loan Modification Software calculator.  This kit includes step by step directions, all required forms, and the software

Download immediately!

calculator will automatically provide your very own sample monthly budget to help you prepare your financial budget correctly.  Visit MyLoanModificationCenter.com for more information.

Learn the Process

Confused about the Bank of America loan modification process and struggling to understand how you can qualify for mortgage assistance?  Only homeowners who can prove that they meet the basic requirements will be approved, so take a minute to learn how the process works, what loan modification forms are required and how to complete them correctly.

Loan Modification Forms – What they are and How to complete them:

1. Official Application – This is called the RMA or Request for Modification and Affidavit.  It is three pages long and includes your monthly budget detailing your income, expenses and bank balances.  This is the most important part of the entire loan mod process because if you do not complete your financial statement correctly then you may not fit into the approval guidelines.  Your monthly income must be sufficient, and your bank balances cannot be too high.
2. 4506T:  This is a form that is required so that Bank of America can verify your federal tax returns.  It must be signed and returned with the application package.
3. Dodd Frank Certification:  This loan modification form is also required, and you are signing this stating that you have not been convicted of a felony relating to mortgage fraud in the last 10 years.
4. Hardship Letter:  the application includes the hardship affidavit, but you should also write a brief explanation of what has happened to cause the mortgage payment problems, sign it and include it in your loan mod package.

The Bank of America loan modification process requires that you complete, sign and submit all the above loan mod forms so that they can be reviewed for eligibility.  Remember, the information you provide will be used to determine if you fit into the standard approval guidelines for a loan mod.  This includes a mathematical formula using

Sample Budget-Automatically!

your monthly income, monthly expenses and bank balances which you provide on the RMA form.  Your mortgage must be able to be modified to reach a new target payment using the Waterfall Method.

How you complete your Bank of America loan modification forms is critical to approval – this is not a subjective process.  You must prove in black and white that you fit right into the guidelines – otherwise you will find yourself denied the help you need.  Learn ahead of time just how much income you need, and how to list your monthly expenses so that you can complete your forms accurately and so that they are acceptable.

Need help to prepare your Bank of America loan modification forms?  Avoid mistakes, use the #1 best selling resource for

Download immediately!

homeowners, The Complete Loan Modification Guide kit and Loan Modification Software calculator.  The kit includes a step by step handbook, required forms, and the calculator will automatically generate your own sample monthly budget to help you prepare your financial statement correctly.  Visit MyLoanModificationCenter.com for more information.

Apply Correctly!

Completing the Bank of America loan modification forms can be very tricky for homeowners – do it wrong and your application could be denied immediately.  The secret to getting approved for a loan mod is simple – your financial information must pass the standard approval formula.  This means that your monthly income, monthly expenses and bank balances all fit right into the standard approval guidelines.

There are several Bank of America loan modification forms you will be required to complete, but the one of the most tricky forms is the financial statement.  This is the one part of the loan mod process that trips up most homeowners.  You must fill out this form with a detailed accounting of your monthly income, monthly expenses and bank balances.  Then, this information is used in that standard approval formula to determine if your situation is passing the triggers for acceptance. Submit the wrong information and your loan mod application will most likely be denied immediately.

Software Uses the Formula

Do you know just how much income is required for you to qualify for a Bank of America loan modification?  What about your monthly expenses or your current bank balances?  These are all critical parts of your application and so you need to know just what it is going to take in order to fit right into those standard approval guidelines.  If you just guess at it, slap something together and hope for the best, you are really taking a big chance.  That is the reason the majority of borrowers are turned down – they don’t take the time to learn and prepare their application correctly.  Even the most deserving homeowner will be denied if their paperwork is not acceptable.  Don’t let this happen to you!

If you need help preparing your Bank of America loan modification forms, you can us the #1 resource for homeowners, The Complete Loan

Download immediately!

Modification Guide kit and Loan Modification Software Program. The kit provides you with everything you need – step-by-step directions, forms, and the easy to use, but very powerful loan mod software program.  This program

Automatic Calculations

mimics that standard approval formula, and will show you instantly how much monthly income you need to prove in order to pass the guidelines.  Visit MyLoanModificationCenter.com for more information and get started today.

Apply Correctly

Homeowners who need a Wachovia loan modification should understand the right and wrong way to complete the application forms.  Remember, the information you provide on the paperwork will determine if you qualify for a loan workout, so it is really important to understand the right way to prepare the application in order to prove that you fit right into the program guidelines.

The most important Wachovia loan modification form is the financial statement that details your monthly income, monthly expenses and bank balances.  If you fill this out wrong you will probably be denied a loan mod and lose your chance at a lower mortgage payment.  So, what is the right way to complete this important form?  You need to know the basics of the standard approval formula and understand how much income you need to prove in order to qualify.  If you know this ahead of time, then you will be able to complete the loan mod forms correctly and prove to Wachovia that you fit right into the guidelines.

The wrong way to prepare your Wachovia loan modification forms is to just

Know the Guidelines

guess at what you need to qualify, slap the paperwork together and send it in hoping for the best.  Think about it this way, if you were preparing a new dish you would follow a recipe right?  Well, the approval formula is the recipe for a loan modification approval, and if you can use this information to help you it certainly makes sense to do that.  It is stressful and confusing enough to try to qualify for a loan mod and you really need to take advantage of every piece of information you have available to make it easier.

But since Wachovia will not explain the right way to complete the loan modification forms to homeowners, that leaves it up to you to figure out.  Fortunately, you can use a loan mod software program that actually mimics that standard approval guidelines for monthly income, monthly expenses

Uses Approval Formula!

and bank balances.   The loan mod software will do all the calculations for you automatically and you will see immediately if you need to make any adjustments to your budget in order to fit into the programs.

Download immediately!

Need help preparing your Wachovia loan modification forms?  The Complete Loan Modification Guide Kit and Loan Modification Software program has helped thousands of borrowers-easy to use and it gives you step by step directions for preparing your own accurate and acceptable financial statement.  Get more information and help – visit MyLoanModificationCenter.com.  Don’t take chances – complete your forms the right way, avoid mistakes and get the best chance for success on your loan workout.

When you apply for a loan workout, you will be asked to complete and submit Indymac loan modification forms.  The more you know about how to complete these form properly the better your chances of approval will be.  This means that you understand just what the bank is looking to see on your paperwork so that you know just how much income, expenses and cash in the bank you should be showing.

The most important Indymac loan modification form is called the RMA for Request for Modification and Affidavit.  This is a 3 page form the will be required, and on page 2 is the most important part of this form.  This is where you must itemize all of your gross monthly income, your monthly expenses and any cash you have in the bank.  Retirement accounts are exempt, so do not include those.  Be aware that depending on your monthly income, monthly bills and your mortgage balance, Indymac will use a standard formula and will determine if your financial situation fits into the modification guidelines.

Know the Guidelines

You really need to know just how much income and expenses you need to show on your Indymac loan modification forms before you submit them for review.  Otherwise, your income may be too low, your debts too high or you may even be earning too much money to qualify.  One way that you can learn this specific information ahead of time is to use the Loan Mod Quick App, which is the #1 resource for homeowners and a very easy to use software program.  The software mimics the actual approval guidelines using the very same formula the banks use so that when you put in your own financial details, you will see immediately if you are passing or where you may need to adjust your figures.

Let’s face it, homeowners across the country are struggling and adjusting their budget every month to try to make ends meet.  If you knew that by cutting your expenses just a couple of hundred dollars you would qualify for an Indymac loan modification, then you would probably be willing to do that, right?  The problem is that most homeowners simply cannot figure this out on their own and that is why the loan modification software is so powerful and really helpful to increase your chances of success.

Use the Formula!

Indymac loan modification forms need to be completed properly or you are facing a big risk of being denied for a loan workout.  The first step you need to take is to make certain that you understand the basic criteria or at least use a resource like the software program to help you get it right.  It is not rocket science, just a basic mathematical formula, but if you are not sure about figuring it out on your own the loan modification software program could be big help to you.  Don’t be turned down just because you did not know how to prepare your forms, learn, prepare and then get the help you need.

Easy to Use-Avoid Mistakes!

Not sure how to qualify for an Indymac loan modification?  Loan Mod Quick App software takes the confusion out of preparing your application.  This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you.  Why take chances with your application?  Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you!  You can save hours of time and avoid costly mistakes.  The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more.

Download immediately!

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit & Software and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.  The Complete Loan Modification Guide kit provides a valuable resource for borrowers that includes a step by step handbook, required forms, and a loan modification software program that mimics the federal approval triggers for loan modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.

Need help to lower your mortgage payments?  You need to learn how to find and complete the required Chase loan modification forms. You will be required to submit an application that includes certain loan modification forms. Ever wonder why some homeowners are approved for a loan workout while others are denied? Here is the secret- knowing how to prepare the application forms properly so that they will meet the lenders guidelines for approval. The new federal program called HAMP is offered by Chase and features a standard formula to determine which borrowers are eligible, use this formula when preparing your forms and you will have the inside edge.

Here is a list of the Chase loan modification forms and how to prepare them:

1. Borrowers Statement: This is an information sheet that includes the borrowers basic information, like name, address, social security number, dependent information, job history, etc.
2. Current Financial Statement: This is a detailed accounting of your monthly income and expenses-a snapshot of your current financial situation that itemizes all of your income and expenses each month. Here is how you demonstrate to Chase that while the current mortgage payment is a hardship, the new lower modified loan payment will be affordable. Make sure you figure your debt ratio, target payment and disposable income correctly!  You can use a tool designed just for homeowners that will do all the calculations automatically-The Loan Mod Quick App software program takes the guess work out of doing your own financial statement correctly.
3. Hardship Letter & Hardship Affidavit: You must prove to Chase that you have or will suffer a financial hardship causing the current mortgage terms to be unaffordable. A compelling and
   

   Know the 3 critical elements of a hardship letter

   convincing letter will help your lender to decide in your favor. Keep it short but descriptive-one page is ideal.  Make sure you include a few key trigger phrases-one is “imminent risk of default”-do you know the other two?

4. Submission Cover Sheet: Use this form to tell your lender what new loan terms and mortgage payment you are requesting. Make sure you specifically request consideration for HAMP.  When you prepare your target payment ahead of time, you will be able to negotiate with your lender to achieve the new payment that will be affordable and sustainable for your family.
5. Rental Schedule: Use this form if you have investment or rental properties to show the bank the monthly cash flow and equity position.  Your negative or positive cash flow will impact your monthly income.

Your Financial Statement is really the single most important part of your application-done right and you have a good chance of approval, but done incorrectly and even a deserving borrower will be declined. Remember, based on how you prepare this form, Chase will make a determination as to whether you qualify or not. That is why it is so important to work on this ahead of time-do not give your bank any information about your income or monthly bills until you have sat down and worked out your budget. The goal is to show the bank that the current payment is unaffordable and that you cannot make ends meet. But you most also be able to show them that you will be able to pay and maintain the new modified payment each month, and have a little bit of disposable income left over for emergencies. This is easy to do when you use a Current Financial Statement and a Proposed Financial Statement and when you have determined your target payment.

Your target payment is your goal-use the Loan Mod Quick APP software program to discover your target payment, debt ratio, disposable income and the other important calculations.  You can then make any necessary adjustments to other parts of your budget so that you prove clearly to Chase that you can afford the new, modified payment. If you are not sure how to figure your debt ratio, target payment or the other critical calculations, avoid mistakes and use the software program designed specifically to assist homeowners avoid mistakes and prepare their application correctly.

Download immediately!

Save hours of time and frustration and do it right the first time.  Get the help you need to prepare your own accurate and acceptable loan modification application. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that takes the guess work out of preparing your financial statement, hardship letter and all of the required forms your lender needs. You get an easy to use software program-Loan Mod Quick App-as well as an easy to understand handbook with step by step directions. Why take chances with your application? Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you! It couldn’t be easier-end the frustration-Visit myloanmodificationcenter.com and order today.

A successful application is to complete the required loan modification forms so that you have met your lenders guidelines for approval. You must take the time to learn those guidelines and know how to prepare your forms properly so that you will have the best chance of success. Even the most deserving borrower may denied the help they need if their loan modification application is not completed properly. Make the decision to become informed and be prepared so that you can have a fighting chance to save your home. This is to important to leave to chance-thousands of homeowners have already gotten help and you can too!