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Digital News Report – In order to participate in President Obama’s Home loan modification program called Home Affordable Modification Program (HAMP) you need to follow a procedure to start the process with your mortgage lender. The process begins with filing out a request along with other paperwork that you will need to get started with the loan modification process.
You can get the home loan modification request form online at makinghomeaffordable.com. The form is called “Request for Modification and Affidavit” form. You also will need to get Tax Form “4506T-EZ” as well and you will need to show proof of your income. This initial package of information is submitted to your mortgage company to begin the process of getting your home loan modified. If you have trouble filing out the forms you can get free help from a HUD-approved housing counselor or by calling 1-888-995-HOPE with is the Government run HOPE™ Hotline.
You will want to keep one copy for your records and another copy that will be sent to the mortgage lender. Don’t forget to sign the Request Form before submitting it along with your other paperwork. The Tax Form paperwork gives permission for your mortgage lender to get a copy of your most recently filed tax return with the IRS. You need to file this form out and sign it as well. The last paperwork to collect is your proof of income. This can vary depending on your living. If you have a job, recent pay stubs work, if you receive alimony or child support you would need documents show this income. If you are self-employed you would need to have balance sheet showing your income. You should send the mortgage companies copies of your pay stubs and you should keep the originals.
You can mail the documents to your mortgage lender by looking them up online at http://www.makinghomeaffordable.com/contact_servicer.html. They will list the correct mailing address and their fax number where you can send the paperwork.
Remember, if you ever get stuck with the paperwork a visit to makinghomeaffordable.com or calling their hotline can help you get through the process.
By: Victoria Brown
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