If a person feels they could benefit from the new Make Home Affordable Plan to modify their loan, here is a list of items they will need:
* Information about your first mortgage, such as your monthly mortgage statement.
* Information about any second mortgage or home equity line of credit on the house.
* Account balances and minimum monthly payments due on all of your credit cards.
* Account balances and monthly payments on all your other debts such as student loans and car loans.
* Your most recent income tax return.
* Information about your savings and other assets
* Information about the monthly gross (before tax) income of your household, including recent pay stubs if you receive them or documentation of income you receive from other sources.
* It may also be helpful to have: A letter describing any circumstances that caused your income to be reduced or expenses to be increased (job loss, divorce, illness, etc.) if applicable.
To see if you or someone you know can be helped by the program, go to www.makinghomeaffordable.gov. Help is free so beware of foreclosure rescue scams.
In the event that you can't be helped by the modification or refinance program and you need to sell your home, call us or email us for help. With a short sale the lender agrees to a short payoff and the commissions and closing costs are essentially paid by the lender.