Steps to Filing a Loan Modification with Your Lender (If Youre Facing

Foreclosure)

1. Call Your Lender or Loan Servicer

Use the number listed on your mortgage statement.

Have your loan/account number ready to make the process quicker.

2. Request a Loan Modification Application

Ask if they offer a loan modification program and request:

- The application form (often called an RMA)

- A list of required documents

- Instructions for submission (fax, online upload, or mail)

They may direct you to their website.

3. Write a Hardship Letter

Your hardship letter should explain:

- Why you are struggling to make mortgage payments

- What changed in your situation (job loss, illness, divorce, etc.)

Be honest, clear, and to the point. Refer to the example included in your packet.

4. Collect Required Financial Documents

Commonly needed items include:

- Pay stubs (last 2 months)

- W-2s or tax returns (last 2 years, signed)

- Bank statements (23 recent months)

- Monthly budget (income vs. expenses)

- Any other income proof (e.g., unemployment, child support)

See the full Loan Modification Document Checklist for guidance.

5. Complete the Loan Modification ApplicationFill out the form completely.

Dont forget to sign and date all required sections.

6. Submit Your Application Package

Include your application, hardship letter, and all documents.

Submit using the lenders preferred method:

- Fax

- Secure online upload

- Certified mail (with tracking).

7. Follow Up Promptly

Call a few days after submitting to:

- Confirm your documents were received

- Ask if anything is missing

Keep notes of who you speak with and when.

8. Watch for Communication

Open all mail and respond to calls from your loan servicer.

Respond promptly to avoid delays or denial of your application.

9. Be Patient but Persistent

The process can take several weeks.

Keep in touch and provide any additional documents quickly.

10. Seek Help If You Need It

Free help is available Call or Text Dan Murphy 516-361-1680