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!
Montana CAMP Loan Modification Package is a program designed to assist struggling homeowners in Montana to avoid foreclosure and make their mortgage payments more affordable. It is an initiative introduced by the federal government known as the Home Affordable Modification Program (CAMP). The Montana CAMP Loan Modification Package provides eligible homeowners with various options to modify their current home loans, allowing them to have lower monthly payments and avoid foreclosure. This program aims to provide a lifeline to homeowners experiencing financial hardships and ensure they can retain their homes. To qualify for the Montana CAMP Loan Modification Package, homeowners need to meet specific eligibility criteria, including demonstrating a financial hardship, occupying the property as their primary residence, and having an outstanding mortgage balance within specified limits. Applicants will need to provide detailed financial documentation, including income statements, bank statements, and a hardship letter. The Montana CAMP Loan Modification Package offers different types of modifications, depending on the homeowner's specific situation: 1. Montana CAMP Standard Modification: This modification adjusts the interest rate, extends the loan term, and possibly reduces the principal balance to achieve a more affordable monthly payment. 2. Montana CAMP Tier 2 Modification: This modification is designed for homeowners who did not qualify for a CAMP Standard Modification. It offers similar benefits but with slightly different eligibility requirements and guidelines. 3. Montana Principal Reduction Alternative (PRA): This modification reduces the principal balance of the mortgage to make the loan more affordable. It is available for homeowners who owe more on their mortgage than the current value of their home. 4. Montana Home Affordable Unemployment Program (UP): This program provides temporary assistance to homeowners who are unemployed, helping them to reduce or suspend their mortgage payments for a specific period. 5. Montana Home Affordable Foreclosure Alternatives (HAIFA): This option assists homeowners who are unable to keep their homes despite a loan modification. It provides incentives for a short sale or deed-in-lieu of foreclosure, allowing homeowners to prevent the negative consequences of a complete foreclosure and potentially receive relocation assistance. The Montana CAMP Loan Modification Package aims to provide homeowners with a lifeline during challenging Financial Times. By offering various modification options, it strives to help homeowners find a more suitable payment structure and avoid the devastating consequences of foreclosure. It is crucial for homeowners to consult with their mortgage service or a HUD-approved housing counselor to determine the best modification option for their specific circumstances.
