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 New Hampshire CAMP Loan Modification Package is a specialized program designed to assist struggling homeowners in New Hampshire who are facing financial hardships and are at risk of foreclosure. CAMP stands for Home Affordable Modification Program, which is a federal initiative aimed at providing loan modifications to eligible individuals. This loan modification package offers a variety of options to help borrowers in New Hampshire modify their existing mortgage terms and make them more affordable. It aims to prevent foreclosure and provide a chance for homeowners to keep their homes. Some key features of the New Hampshire CAMP Loan Modification Package include: 1. Loan term extension: The package allows for an extension of the loan term, spreading the remaining balance over a longer period. This results in reduced monthly payments, making it easier for homeowners to manage their finances. 2. Interest rate reduction: Depending on the borrower's situation, the interest rate on their mortgage can be reduced, resulting in lower monthly payments. This helps alleviate the financial burden and prevents the accumulation of additional debt. 3. Principal forbearance: In certain cases, a portion of the principal balance might be deferred, allowing borrowers to temporarily reduce their monthly payments. This portion is typically paid back once the mortgage is paid off or when the home is sold. 4. Capitalization of arrears: If the homeowner has fallen behind on their mortgage payments, the arrears can be added to the principal balance. This allows borrowers to catch up on missed payments gradually without facing immediate foreclosure. It's worth mentioning that the New Hampshire CAMP Loan Modification Package may have variations or additional features depending on the lender or loan service involved. Some lenders may offer additional assistance programs or modification options specific to New Hampshire residents. To benefit from the New Hampshire CAMP Loan Modification Package, homeowners must meet certain eligibility criteria, including demonstrating financial hardship and proving that they can sustain the modified payment terms. Individuals should reach out to their loan service or a housing counselor approved by the U.S. Department of Housing and Urban Development (HUD) to explore their specific options and the necessary documentation required to apply for the program. In summary, the New Hampshire CAMP Loan Modification Package is a lifeline for struggling homeowners in New Hampshire, offering various modification options to prevent foreclosure and make mortgage payments more affordable. It provides a chance for residents to regain financial stability while preserving their homes.
