What documents do I need to provide my lender in order to negotiate a loan modification?

When negotiating a loan modification with your lender in California, you will need to provide several documents in order to prove your eligibility. Your lender may require all or a combination of the following documents: 1. Proof of income: This includes tax returns, W-2s, pay stubs and/or bank statements to verify your income. 2. Hardship letter: This letter should contain a detailed explanation of why you are unable to make your mortgage payments. 3. Monthly budget: A budget that outlines your living expenses and monthly income. 4. Financial Statement: A statement that shows your assets and liabilities. 5. Credit report: A report showing your credit history. 6. Loan documents: Copies of your loan documents including your home loan contract and promissory note. 7. Request for loan modification: This document should include an explanation of your current financial situation and what type of loan modification you are requesting from your lender. Once you provide your lender with the necessary documents, they will evaluate your financial situation and decide if you are eligible for a loan modification. You and your lender will then work out the details for a revised loan payment plan and the interest rate that will apply to the modified loan.

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What documents do I need to provide my lender in order to negotiate a loan modification?

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