If you need low-cost eviction assistance due to foreclosure, you need to read the information on this blog: http://stopevictions.blogspot.com/
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Wednesday, June 30, 2010
Loan Modification Information
The following is a post on a blog at: http://shortsales-yllong.blogspot.com/2009/03/loan-modification.html
LOAN MODIFICATION
Hello. As promised, this is the 2nd installment of the Mortgage Education Blog.
Lately the question that everyone is asking, “What will my lender need from me if I want to do a loan modification.” Well before any lender can recommend the most appropriate workout option, it is important that they have a complete understanding of your current financial situation. As part of this process most lenders will require the following documentation:
1. Hardship letter (this letter needs to outline what has caused you to fall behind on your bills, loss of job, illness etc.)
2. Most recent tax returns (1040’s)
3. Most recent paystubs ( normally the last 2)
4. List of expenses
5. Most recent bank statement
6. Copy of your property tax bill
7. Copy of Homeowners Insurance Declarations Page
The most important thing is to contact your lender immediately!! Do not delay the sooner you contact them the sooner you can begin the process. Now with each lender there may be additional documentation needed but the above documents will start the process. As always if you have any further questions please visit www.financialstablity.gov.
If you need low-cost eviction assistance due to foreclosure, you need to read the information on this blog: http://stopevictions.blogspot.com/
Ready to Purchase "How to Stop Foreclosure Related Tenant Evictions"?
Download it from Amazon:
Download it from Barnes and Noble: Click Here
LOAN MODIFICATION
Hello. As promised, this is the 2nd installment of the Mortgage Education Blog.
Lately the question that everyone is asking, “What will my lender need from me if I want to do a loan modification.” Well before any lender can recommend the most appropriate workout option, it is important that they have a complete understanding of your current financial situation. As part of this process most lenders will require the following documentation:
1. Hardship letter (this letter needs to outline what has caused you to fall behind on your bills, loss of job, illness etc.)
2. Most recent tax returns (1040’s)
3. Most recent paystubs ( normally the last 2)
4. List of expenses
5. Most recent bank statement
6. Copy of your property tax bill
7. Copy of Homeowners Insurance Declarations Page
The most important thing is to contact your lender immediately!! Do not delay the sooner you contact them the sooner you can begin the process. Now with each lender there may be additional documentation needed but the above documents will start the process. As always if you have any further questions please visit www.financialstablity.gov.
If you need low-cost eviction assistance due to foreclosure, you need to read the information on this blog: http://stopevictions.blogspot.com/
Ready to Purchase "How to Stop Foreclosure Related Tenant Evictions"?
Download it from Amazon:
Download it from Barnes and Noble: Click Here
Eviction Timeline in CA
The following in question posted on a forum at http://www.foreclosureradar.com.
Submitted by threereasons03 from - 06/06/2008 - 7:27pm
How long after a foreclosure do you have before you must vacate, and does an eviction notice have to be served. This case was a public auction sale in California.
Submitted by Sean - 06/11/2008 - 11:13pm
I think it just changed thanks to some recent legislation extending the notice from 5 days to 30, but don't quote me on that. In my experience the entire process usually takes 60 to 90 days. As the owner you REALLY don't want to force them to evict you. They will end up with a judgement against you for rent from the day of the sale, until the day you are out of the house. If you work with them and go they will likely pay you to move and leave the property clean and you'll get to live there rent free for at least a couple more weeks.
To view more posts to this question, see: http://www.foreclosureradar.com/forum/homeowners/what-do-after-foreclosure/eviction-timeline-ca
If you need low-cost eviction assistance due to foreclosure, you need to read the information on this blog: http://stopevictions.blogspot.com/
Ready to Purchase "How to Stop Foreclosure Related Tenant Evictions"?
Download it from Amazon:
Download it from Barnes and Noble: Click Here
Eviction Timeline in CA
Submitted by threereasons03 from - 06/06/2008 - 7:27pm
How long after a foreclosure do you have before you must vacate, and does an eviction notice have to be served. This case was a public auction sale in California.
Comments
Submitted by Sean - 06/11/2008 - 11:13pm
I think it just changed thanks to some recent legislation extending the notice from 5 days to 30, but don't quote me on that. In my experience the entire process usually takes 60 to 90 days. As the owner you REALLY don't want to force them to evict you. They will end up with a judgement against you for rent from the day of the sale, until the day you are out of the house. If you work with them and go they will likely pay you to move and leave the property clean and you'll get to live there rent free for at least a couple more weeks.
To view more posts to this question, see: http://www.foreclosureradar.com/forum/homeowners/what-do-after-foreclosure/eviction-timeline-ca
If you need low-cost eviction assistance due to foreclosure, you need to read the information on this blog: http://stopevictions.blogspot.com/
Ready to Purchase "How to Stop Foreclosure Related Tenant Evictions"?
Download it from Amazon:
Download it from Barnes and Noble: Click Here
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