VA Loan Modification: Freddie Mac Releases New Loan Modification Video
Many people across the country currently have a VA loan and are interested in seeing if a loan modification can help them. This week, a new video was released by Freddie Mac titled “Stop Foreclosure: Documents Your Lender Needs To Help You” and with many people all over the country calling their lender about a possible loan modification – this video should help explain what is needed. Most lenders are overwhelmed with people requesting loan modifications and this video will do an excellent job of letting people what their lender will require.
VA Loan Modification: Documents Your Lender Will Need
- Copies of your last years tax return
- For any other debt such as credit cards, car loans, etc. – have account balances and minimum payment amounts
- A copy of your most recent mortgage statement
- A copy of recent paystubs
- Any second mortgage or home equity line of credit statements that you have
VA Loan Modification: Hardship Letter
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. A well written hardship letter that describes the “human story” can often be the key that makes the difference between your loan modification getting approved or denied – so don’t neglect it!