1st Foreclosure Prevention can handle loan modification services for a variety of people. However, the person who is going to enter a loan modification plan is going to have to provide plenty of information to 1st Foreclosure Prevention. This data can be very useful with regards to figuring out a plan that is right for one’s needs though.
An applicant will first provide the agency with information on one’s income. Pay stubs will have to be provided. It will help to bring in plenty of pay stubs from both recent time and from the past. This is so it will be easier to suggest that a person is dealing with a substantial decline in one’s income.
Tax returns are also going to have to be provided. Tax returns will work to provide the agency with data on what a person gets and what debts are required on a regular basis. 1099 and W2 forms will have to be provided by the applicant in this part of the process.
Debt expenses that one would have to deal with will also have to be provided. These debt expenses relate to all sorts of things that one will have to pay off. These include such things as secured debts like car loans. Student loans, credit card loans and all other types of loans should be considered when entering a mortgage loan modification plan.
These debt expenses will need to be provided to help give 1st Foreclosure Prevention an idea of how much money a person has to work with. This can also be used to help with getting to debt to income ratio for a person calculated.
Other bills for various types of expenses can also be provided. General utility expenses will have to be provided. Information on any medical expenses that one might have to deal with should also be provided. These expenses are difficult ones to handle because of how they are essentially mandatory expenses for a person to handle.
The last part of the loan modification application process involves providing details on one’s hardship. This is the main reason as to why a person is looking to enter a loan modification program.
The hardship details can work with a number of different things. For example, a person can provide a general hardship letter that will explain the problem that one is dealing with. Information on things like a dismissal notice from an employer or unexpected bills that one is dealing with can be provided to add to the support for this letter. Details on any unemployment benefits one is getting can be covered as well.
These are all vital factors that will be required for a loan modification. These factors will work to help with ensuring that the person who is entering a program will be able to qualify for it. They are also used to ensure that a person is going to enter a plan that will be valuable and sensible for one’s individual needs. After all, no two loan modifications are going to be alike.
Contact : 1st Foreclosure Prevention
[email protected]
Contact No: 302-358-2610
Fax: 302-358-2626
http://www.1stforeclosureprevention.com
Address: 3422 Old Capitol Trail, #1371, Wilmington, Delaware 19808
