If you are trying to get a loan modification with Countrywide Bank, there are a few important issues you need to learn about. While Countrywide Bank is offering a loan workout option to many of it's distressed homeowners, not everyone will qualify for a Countrywide Loan Modification. You need to learn who qualifies and why before contacting Countrywide Bank about getting help to lower your payment.
What does Countrywide Bank need to see from you in order to approve your loan modification application? Here are some of the items you will need to prepare and submit with your application:
* Hardship Letter-a brief explanation detailing the circumstances that caused you to become delinquent, explain how you have tried to remedy the situation and tell the lender about your plan to get back on track and stay there
* Recent Income documents: pay stubs, W2, benefit statements, unemployment
* Bank statements and Tax returns for last 2 years
* Complete & accurate financial statements
How all of these documents are prepared and presented to Countrywide loss mitigation department can make the difference between getting your loan modified to an affordable payment or being denied. A little up-front knowledge and preparation will give you the fighting chance you need to save your home with a loan workout. Once you know what Countrywide Bank is looking for in an acceptable loan modification application, you will be able to present your case in the best possible light to get an approval.
A very good source of information to assist you in this process is The Complete Loan Modification Guide handbook. This is a low cost, easy to read, step by step guide that will give you the 7 Steps to a Successful Loan Modification, as well as invaluable negotiating tips to use with your lender. You will also be provided with all the necessary forms, including the financial statements, and detailed instructions on how to complete them properly. The Complete Loan Modification Guide handbook is a must read before you contact Countrywide Bank about your loan modification. Thousands of homeowners have gotten a Countrywide loan modification, and YOU CAN TOO! So get informed and get going to save your home.
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