Before talking with your lender, we highly suggest you do what we call Lender Preparation. Simply put, a Lender Preparation package will help you immensely.
We suggest that you:
CREATE A PERSONAL FILE WITH:
- 2 Months Proof of Income
- 2 Months Bank Statements
- 2 Years Tax Returns
- Very Detailed Monthly Expenses
- Our Budget Worksheet at: https://rrepros.com/budget-worksheet/ will help
- Use this to create a Written Budget Plan
- ALL saved correspondence received from the Lender (mail and email)
CREATE A LETTER OF EXPLANATION
- Why did you fall behind?
- What has chnaged for you since?
- What corrective steps have you taken to ensure it does not happen again?
- What are your loan / house goals?
- What can you discuss with them to accomplish these goals?
INCLUDE ALL LENDER PREPARATION DOCUMENTATION
- Recent Mortgage Statement
- Letters of Deficiency
- Signed Power of Attorney
- Clean copy of NEW personal budget showing what you can / cannot afford.
We can answer ALL of these questions click here. Follow me on Facebook.
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