| If you are applying for a loan modification, you need to | | | | approval process that allows you to submit your |
| know the types of things you're your lender is looking | | | | application and hardship letter electronically. This gets |
| at as part of the decision as to whether or not you | | | | your paperwork through faster and hopefully will |
| qualify and will be approved. One of the easier things | | | | reduce the turnaround time needed to qualify and |
| you can do to help increase the chances of your loan | | | | approve your loan. Choose either an online submission |
| modification request being approved is to complete the | | | | process or mailing in your paperwork, but doing half |
| application very thoroughly to avoid errors that will | | | | online and half by mail will delay the process. |
| cause delays or denials. | | | | Don't be tempted to overstate, exaggerate, or falsify |
| Keep in mind that mortgage lender's requirements vary | | | | your circumstances. Your modification will be denied if |
| from bank to bank so you may qualify at one lender | | | | it is determined that you provided inaccurate |
| while not qualifying at another. Don't get discouraged, | | | | information on either your application or in your |
| keep looking for the requirements of each lending | | | | hardship letter. Be sure to proofread your application |
| institution so that you'll know what to expect. | | | | and hardship letter before submission because even |
| Get to know your lender's modification requirements | | | | unintentional mistakes could lead to denial of your loan |
| before you approach them. This will give you an | | | | modifying request. |
| advantage because you'll be better prepared to fill out | | | | Qualifying for a mortgage loan modification isn't as |
| the application and therefore increase your chances of | | | | difficult as you might think. Most denials for loan |
| approval for your loan modification. To determine what | | | | modification as based on errors in the application or |
| your lender's modification requirements are, first check | | | | hardship letter. Make sure that your hardship letter is |
| your lender's website and it might provide you the | | | | well-written and accurate. You will have a better |
| information you need. If not, call your bank and speak | | | | chance of being approved by being prepared through |
| with someone in either the loan modification or loss | | | | thorough research to gain the knowledge needed to |
| mitigation department and ask them for this information | | | | succeed. |
| Some lenders have an online loan modification | | | | |