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Apply for a loan modification

Step 1. Organize your personal documents.

Collect and make copies of the following:

  • Last 60 days of proof of income, but no older than 90 days from all borrowers
  • Bank statements (two months, six months if self-employed)
  • Most recent tax returns
  • If self-employed, current year-to-date profit-and-loss statement
  • Most recent utility bills

Step 2. Compile your application package.

If you apply for a loan modification under the Home Affordable Modification Program (HAMP), you can print the forms from the HAMP website. Completely and accurately fill in the information. Do not leave blank spaces or boxes unmarked. The initial package you send to your lender or servicer will include the following documents:

  • Request for Modification and Affidavit Form (PMA)
  • 4506T-EZ form
  • Proof of income (no older than 90 days)

Depending on your situation, your initial package may also include the following:

  • Last three months of bank statements; more (often six months) if self-employed
  • Last 60 days of paystubs
  • Tax returns; past two years if self-employed
  • Current profit-and-loss statement, if self-employed
  • Copy of property tax bill if you were paying directly
  • Copy and proof of hazard insurance policy if you are paying directly
  • Most recent utility bills
  • Proof of payment of homeowners association dues or CCRs, if applicable

If you are self-employed, submit a current and properly documented profit-and-loss statement and your most recent six bank statements to reflect a steady source of income.

Ten days after you send the above information, the lender/servicer will acknowledge receipt of your initial package and may request more information.

Step 3: Stay organized.

Make sure your information is complete and you provide any additional information the lender/servicer requests. If the lender/servicer needs an additional paystub or other document, it may be a good idea to send the complete package again either by certified mail or fax. Each page of the documentation needs to be numbered and include the borrowers' last names and the loan number. Make a copy of all the documents and information you send and keep careful records of your communication with the bank or servicer’s representative.

Step 4. Find some assistance.

Seek help from an approved counselor, or a trusted family member or friend. You can also contact state staff for help.

Step 5: If approved, comply with the conditions.

If your application is initially approved, you likely will be placed on a trial payment period before you are permanently approved for a modification. The foreclosure process should be postponed, but you must comply with all the conditions before you are approved for a permanent modification.

Helpful links

Making Home Affordable Program

Making Home Affordable FAQ

Your to-do list for permanent modification (video)


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