Understanding loan modifications

What paperwork will I need for my loan modification application?

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Your application is complete when everything the mortgage servicer requires has been submitted. Each mortgage lender has different requirements, but a typical list would be:

  • Application and financial worksheet
  • Two most recent pay stubs showing year to date earnings
  • Proof of other income
  • Signed IRS form 4506-T or 4506T-EZ – This allows your lender to get a copy of your tax return direct from the IRS.
  • Two most recent bank statements
  • Money market, mutual fund, stock and bond statements
  • Divorce decree or separation agreement (if applicable)
  • Information about your financial hardship

Once you submit everything required by your mortgage servicer, your application will be considered complete and will be reviewed.

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