This package is designed to assist homeowners to obtain a loan modification under the Home Affordable Modification Program (HAMP). Including in this package are the following forms:
1. Request for Loan Modification and Affidavit RMA Under Home Affordable Modification Program HAMP
2. Instructions for Completing Request for Loan Modification and Affidavit RMA Form
3. IRS Form 4506-EZ Short Form Request for Individual Tax Return Transcript
4. Instructions for Completing IRS Form 4506T-EZ
5. How to Request a Home Affordable Modification Guide
Purchase of this package is a savings of nearly 30% compared to purchase of the forms individually!
The Iowa CAMP Loan Modification Package is a comprehensive solution offered by the state of Iowa to help homeowners experiencing financial hardship to modify their existing home mortgage loans. This program aims to provide eligible borrowers with more affordable monthly payments, thereby preventing foreclosure and promoting housing stability. The Iowa CAMP Loan Modification Package is tailored to suit the specific needs of struggling homeowners in Iowa. It is designed to assist borrowers who have a genuine desire to stay in their homes but are facing difficulties in keeping up with their mortgage payments. This program offers viable alternatives to foreclosure by providing various options for loan modification. There are different types of Iowa CAMP Loan Modification Packages available to homeowners, depending on their unique circumstances. These may include: 1. CAMP Tier 1 Modification: This type of modification is designed for borrowers who have not previously received a loan modification under the CAMP program or have fallen behind on their payments after a previous modification. It aims to reduce the borrower's monthly mortgage payment to a more affordable level through interest rate reductions, loan term extensions, or principle forbearance. 2. CAMP Tier 2 Modification: Iowa homeowners who do not qualify for the Tier 1 modification may be considered for the Tier 2 modification. This option is available to borrowers who have successfully made timely payments under a prior CAMP modification but continue to face financial hardship. The Tier 2 modification provides additional assistance to reduce the borrower's monthly mortgage payment further. 3. Principal Reduction Alternative (PRA): In certain cases, borrowers with severely underwater mortgages may be eligible for a principal reduction on their loan balance through the Principal Reduction Alternative. This option helps homeowners by reducing the outstanding loan amount to improve affordability. To qualify for an Iowa CAMP Loan Modification Package, homeowners must meet specific eligibility criteria, including demonstrating financial hardship, having a mortgage payment that exceeds a certain percentage of their gross monthly income, and proving homeownership of a one to four-unit residential property. It is important for Iowa homeowners facing financial distress to explore the various options available to them through the Iowa CAMP Loan Modification Package. This program offers potential solutions to alleviate the burden of unaffordable mortgage payments and provides opportunities for homeowners to secure their homes and regain financial stability.
