What should I do to get Loan Modification if I am not currently employed?
Dreamer asked:
Tags: loan modification, Mortgages, Proof, Self Employed
Mortgage
I need to get Loan Modification, I have no proof of my income. I am self employed.
Is it possible to get loan modification?
Contact your lending institution and ask for their customer counselling or mortgage counselling department. They should provide you with all of your alternatives on modifications.
Do you file taxes or receive a 1099?
Sounds like you were one of those who couldn’t prove income so you did a stated income or no doc loan!
Call your lender and ask for the loss mitigation dept and see what they can work out with you. You are employed, but self employment is difficult since they usually go by 2 years of tax returns or your 1099′s.
Do you file taxes or receive a 1099?
Sounds like you were one of those who couldn’t prove income so you did a stated income or no doc loan!
Call your lender and ask for the loss mitigation dept and see what they can work out with you. You are employed, but self employment is difficult since they usually go by 2 years of tax returns or your 1099′s.
It is harder to prove income, if you are self employed, than if you were working for someone. The tax statements can be very helpful as supporting documents, however, you may show hardship, that your income has come down due to …. what ever.
Here is an article with a few pointers:
try contacting loan agents they might help you in finding alternate ways