Freddie Mac Releases Video Titled “Stop Foreclosure”

July 10th, 2009 | Category: Foreclosure

Freddie Mac: Stop Foreclosure Video

Yesterday, Freddie Mac released a new video aimed to help citizens who are in trouble with their mortgage and wondering about a loan modification titled “Stop Foreclosure: Documents Your Lender Needs To Help You“.

Although foreclosures are worse in the “sand states” of California, Florida, Nevada and Arizona, humans all by the country are experiencing the threat of losing their homes. No matter where you live, whether you are having trouble with your mortgage and are thinking about speaking with your lender about a loan modification, that video is helpful and shows what documents are needed in the process.

With the crush of phone calls from society inquiring about a loan modification, many lenders are swamped and that video can help you know what documents you will need in order to be prepared when you signal your lender.

Loan Modification: Documents Your Lender

Will Need

One of your recent mortgage statements
Copies of your last years tax return
A copy of recent paystubs
Account balances and minimum monthly payments on credit cards, car loans, student loans or other debt
A statement for any second mortgage or HELOC

Loan Modification: Hardship Letter

A well-written hardship (read: authentic) letter can go a towering way to the society making the decision as to whether or not to modify your loan and will additionally help speed up the loan modification process. Remember, there is an actual human who works at the lender who will review your case, not a machine. Hardship letters bring out the “human story” that often can prepare the difference within your loan modification getting approved or denied - so don’t neglect it!

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