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 Indiana CAMP (Home Affordable Modification Program) Loan Modification Package is a program designed to assist struggling homeowners in Indiana to avoid foreclosure and obtain more affordable mortgage payments. This package offers various options and solutions to help borrowers modify their existing mortgage terms, making them more manageable and sustainable. The Indiana CAMP Loan Modification Package provides eligible homeowners with an opportunity to negotiate new loan terms with their mortgage services, resulting in lower monthly payments and improved loan affordability. This program aims to prevent foreclosure and provide financial relief to Indiana homeowners who are facing difficulties in meeting their mortgage obligations. Here are different types of Indiana CAMP Loan Modification Packages available: 1. Interest Rate Reduction: Under this option, the mortgage service may lower the interest rate on the loan, leading to reduced monthly payments for the homeowner. 2. Extended Loan Term: This option allows for an extension of the loan term, which, in turn, spreads the payments over a longer period, making them more affordable. 3. Principal Forbearance: In certain cases, the service may choose to defer a portion of the principal balance owed, reducing the immediate financial burden on the homeowner. This deferred amount may be repaid later or may be securely added to the end of the loan term. 4. Principal Reduction: Some borrowers may be eligible for a principal reduction, where a portion of the outstanding principal balance is forgiven, resulting in a lower loan amount and more affordable payments. In order to qualify for the Indiana CAMP Loan Modification Package, homeowners must meet specific eligibility criteria such as experiencing a financial hardship, demonstrating ability to make modified mortgage payments, residing in the property as their primary residence, and having obtained the mortgage before a certain date. It is important to note that each homeowner's situation is unique, and the specific options and terms offered within the Indiana CAMP Loan Modification Package will vary depending on individual circumstances. Therefore, it is recommended that homeowners consult with their mortgage service or seek professional advice to determine the most suitable modification option for their specific needs.
