Jumpstart Program
This is something to consider if you don’t want to take on the modification process yourself and need a jumpstart. We can get you from a pile of documents and forms to a submitted modification application within 5 days from providing us everything.
Step by Step on how Jumpstart Program will works:
- With your financial information in hand we walk you through the income and expense forms to accurately assess your debt to income ratios (DTI). We may offer advice on some areas that can be adjusted. If self employed, we help with the current profit and loss statement. This Document and the housing DTI are key to getting your modification granted and we have years of experience getting it right.
- We then determine from your income and expenses if you qualify under your lender’s modification guidelines. We have every lender’s guidelines in our loan modification submission software.
- We review the hardship explanation. It may contain too much or too little information to help the lender make a decision in your favor. We draft the letter for you based on what you provide us.
- If you qualify we then complete all the documentation required including your lenders application form, property information, income and expense statement. This information is completed on your lenders forms if they require their own forms.
- You fax or email us the following checklist of items we will use to verify all your financial information and hardship. We will determine what you should and should not provide to your lender.
If W-2 Employee:
- Three most current bank statements all pages of all bank accounts
- Last 60 days paystubs for all income earners – remember to keep and send paystubs at the end of each month
- Rental agreements
- Copies of any social security award letters
- Evidence of retirement income
- Proof of child support
- W-2
- Proof of any other income received
- Copies of your mortgage statements for them and any other mortgages you may have on rental property.
- Last year’s tax return all pages (signed 1040)
- Copy of a utility bill – this helps prove you occupy the property
If you are Self Employed you will need the above PLUS:
- Last two year’s tax return
- Copy of any filing extensions
- Current Profit and Loss Statement or at least the figures for it so we can complete this for you.
- We run an analysis and value using various sources and if necessary talk to local real estate professionals to confirm value. This will be used for the proposal and to demonstrate why they should provide you a loan modification.
- We review all documentation at this point and provide an assessment and final review prior to submission.
- We suggest a proposal to your lender based on your entire file, get your approval and then draft the proposal in a format similar to this Proposal Sample. Included in writing the proposal will be calculating your DTI using several income and expense scenarios and editing your income and expense statement and hardship letter depending on those results.
- We offer advice, free websites or refer you to other companies who specialize in areas that you may also require help with such as foreclosure delay, credit repair, credit consolidation or bankruptcy attorneys.
We would normally charge $1,000 or more to process the paperwork, but we have created a system using our online Jumpstart Form that allows us to save time and work with more customers. We have passed this savings on to you so you can quickly and affordably get your modification package rolling!
Our cost for providing everything above is only $450 if you have one loan and $550 for two loans. (call for quote on more than two loans)
AS AND ADDED BONUS WE WILL PERSONALLY PREQUALIFY YOU FREE OF CHARGE BEFORE YOU PAY US ANYTHING!
To quickly determine if you qualify to apply for a loan modification, complete the form below and click the submit button below and we will call you within 24 hours to let you know if you should proceed with a Loan Modification Application.