Single Women Homeowners Loan Modification
photo credit: angela7dreams
What are the benefits of loan modification? Then main benefit is to STOP FORECLOSURE, and to be able to save hundreds of dollars every month on your mortgage payments which will help you greatly to improve you financial hardship. Why single women are more at risk than couples of losing their home? For the several following reasons.
1) Single women make in general a smaller salary than men or couples do.
2) Single women are very much affected by the heavy income tax single people are paying.
3) Many of those single women are single mothers who are not receiving any alimony.
What is a loan modification? It is a written agreement between the borrower and the lender. It is not profitable for banks to foreclose on your house, so most likely if you present to your bank/lender a well completed application it is likely that they will accept it.
Can you do file yourself? Yes, you can. If you are using legal help to file your application such as a lawyer or an agency you should be expecting to pay from $1,500-$3,000 which is not exactly affordable to already struggling single women. All you need to have to file your own loan modification is a GUIDE that you will be able to follow step by step, so you could present a complete file to your lender.
In order to complete your application you will need.
1) A hardship letter which will explain your financial circumstances/hardship.
2) A complete financial sheet with financial statements.
3) All bank statements and tax returns for the last 2 years.
4) Pay stubs for the last 2 pay periods.
Once you have all the documents necessary and hardship letter completed you can present your loan modification application to your lender.
If you are not sure that you would be able to do a loan modification yourself for lack of knowledge in this area, we have put together a self help package that will help you do your own loan modification with a better chance of success without spending thousands of dollars in attorneys’ fees.
For more information go to http://www.squidoo.com/SingleWomenHomeOwnersRecovery We are here to help. http://www.easynopayloanmodification.com
