What Are the Monthly Expenses You Need to Show on a Loan Modification Application? What Will Work?

What Are the Monthly Expenses You Need to Show on a Loan Modification Application? What Will Work?

Before you fill out your loan modification application and send it in for review, make certain the you know how to itemize your monthly expenses and monthly income. You will be asked to complete the three page form, called a RMA Request for Modification or Affidavit. The second page is where you breakdown all of your monthly expenses, income and cash in the bank. Most borrowers do not realize how important it is to prepare this section of the form correctly-it can literally make the difference between approval and denial! Here is some information on what you need to be on the look out for:

Loan Modification Application Monthly Expenses-TIPS