California Loan Modification: Freddie Mac Releases Video
Freddie Mac has produced a brief video titled “Stop Foreclosure: Documents Your Lender Needs To Help You” via YouTube. For anyone who lives in California and is considering a loan modification, this video is very useful because it shows you what documents your lender will be needing from you during the process. Almost all lenders are extremely busy with loan modification requests and this video is just one more resource to try to help people be prepared.
California Loan Modification: Documents You Will Need
- Copies of your most recent tax returns
- A recent copy of your mortgage statement
- For any other debt such as credit cards, car loans, etc. – have account balances and minimum payment amounts
- A copy of your most recent paystubs that show your net take home pay
- A second mortgage and/or HELOC statement
California Loan Modification: Hardship Letter Is Important
If you are wondering if you really need to write a hardship letter — don’t wonder. A well written hardship letter is a vital part of the loan modification process. Hardship letters bring out the “human story” that often can make the difference between your loan modification getting approved or denied – so don’t neglect it!
