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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. We are a homeowner advocacy group with more than a decade of helping homeowners and professionals with mortgage assistance negotiations. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**
America’s Servicing Company Loan Modification RMA Form Application Package
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Step 1: Fill Out America’s Servicing Company Loan Modification Package
What is an America’s Servicing Company Loan Modification Package?
America’s Servicing Company Loan Modification Request For Mortgage Assistance (RMA)
If you want to apply for a loan modification with America’s Servicing Company the first requirement will be to complete and submit America’s Servicing Company Request for Mortgage Assistance (RMA). it is necessary that you use the latest paperwork. It is always better if you meet with a professional before submitting the paperwork. There are many professionals you can work with to get help but it is very crucial to find the right ones so that the process goes on smoothly. That’s why we put the latest paperwork we could find online; to help you. That is what we do as we are a company working to help our customers with Mortgage relief. Click here to request a call from a loan mod pro or call 888-934-3444.
What is the America’s Servicing Company hardship affidavit?
America’s Servicing Company Hardship Letter
Built into their application America’s Servicing Company have a hardship affidavit citing your hardship,
Real Estate Mortgage Loan Modification Definition
What is a loan modification?
First, let’s go over what a modification is not. A loan modification (or loan mod) is not a refinance. That is when you get a new loan to pay off your old existing loan or combining loans. You cannot combine loans, such as a first and a second mortgage, when you are completing a loan modification. A loan modification is exactly as it sounds. We work with you to change the terms of the loan that currently exist.
What terms can I change on my mortgage with a loan modification?
This is the banking industry and thinking outside of the box is just not what they do. So there are limitations to the things you can modify on your loan and how those things can be modified.
Interest Rate Modification
People mostly talk to us about changing their interest rate. While this is important it’s not the only way to adjust the payment. The mortgage servicer will push to reach affordability to it will be based on your income.
Loan Term Adjustment Mod
The life of the loan may be adjusted to reach affordability but it doesn’t work the same way as many times people say they are adding the payments to the back of the loan. The loan isn’t physically extended by the number of payments you miss. In many cases the loan is extended back to 30 years or even extended further out. We have seen as much as 50 years, but as 30 years is the norm, any extension beyond is generally no more than 40. Beneficiary of the note and the limitations they set completely control this.
Principal Capitalization and Principal Reduction Modification
Principal capitalization is when they take the amount you are behind on, including any past due payment, interest, and fees later adding them to the outstanding balance of what is owed. In rare cases that are generally dictated by the amount of perceived equity in the home (or lack there of) the investor on the loan may be willing to take a reduction on the principal owed
Step 2: Submit Loan Modification Package To America’s Servicing Company
America’s Servicing Company Loan Modification Submittal
Getting Your Forms Submitted To America’s Servicing Company To Get The Process Going. What is in the America’s Servicing Company Loan Modification Package?
It is not only limited to America’s Servicing Company because usually all the lenders have the same requirements. You will have to provide your financial information to you servicer such as a monthly budget, your tax returns for the last two years along with a 4506t to show the returns were actually filed, pay stubs or proof of income like a profit and loss, bank statements, reason for requiring to do a loan modification, and a hardship letter.
Step 3: America’s Servicing Company Loan Modification Broker's Price Opinion (BPO) or Appraisal
America’s Servicing Company Loan Modification Value
Getting The Right Value Goes A Long Way.
To complete a loan modification successfully the lender like America’s Servicing Company will have to balance out all the options available to the homeowner. One of the options is to check whether the value is acceptable or not. To get a value different ways can be adopted including the ones in which the valuation is done online. In some cases a value is completed by a real estate agent, also known as a Broker’s Price Opinion (BPO), In this type, the broker compares the properties in the area. Type may also want to do an interior valuation in which case they will need access to the home. A drive by or external value is needed to be completed in some cases. Doesn’t matter what the type of valuation is they will compare the properties currently listed but the one more important are the ones sold between the previous 3 to 6 months. They consider the homes perceived condition, the size of the living space, the size of the lot, how many stories it has and whether or not it has a pool. They will also consider market conditions and how fast homes are selling in the area. There are many factors they take into consideration.
America’s Servicing Company Loan Modification Appraisal
Loan Modification Appraisal Values
In some of the cases the real investor for which America’s Servicing Company is working for will require to complete a valuation before approving any terms of loan modification.The lender will do a computer based valuation called an Automated Valuation Module (AVM). In rare cases the lender will hire a broker for Broker’s Price Opinion (BPO) due to cost preventions. In even rarer cases the beneficiary will pay for a by a licensed appraiser. The homeowner may be required to pay upfront fees in some of the cases for these services.
America’s Servicing Company Value Disputes and Variances
Filing Value Disputes and Variances
It can happen often that a value either come in too high or too low. This can happen to anyone whether you are a professional of a rookie does not matter, you may have to deal with a value dispute. Depending on who the investor is or if it’s insured there may be different processes for filing disputes with America’s Servicing Company or another managing entity.
Step 4: Net Present Value (NPV)
NPV and how does it work?
America’s Servicing Company’s Net Present Value or NPV Process and Analysis.
The lender will decide whether you qualify for the loan modification or not and to forward your file or not after a valuation has been completed and it has returned. Usually there is an auditing process before the submission to management and if approved there is often another auditing process the occurs before an approval letter is issued.
America’s Servicing Company NPV Counters
NPV stands for Net Present Value. NPV is basically an algorithm so the lender can get the value for his money. This isn’t a stable value either. It changes from day to day. The process of looking at two separate borrowers and checking where they can make more money is known as NPV. In most of the cases the borrower is behind on his/her payment so the lender will have to decide whether to take the amount owed and increase their balance is even worth it or not. Homeowners have to know that when the numbers don’t add up for the investor that is when they are most likely to get declined.
Modificaiton Decline Appeal
America’s Servicing Company NPV Counters
countering the NPV is easy just look at the points and find the ones that don’t make sense and attack those parts. You should look at each point and imagine what would be the likely output. The most typical are incorrect income figures but it could go beyond that to things like the property’s perceived value and even in some cases the consumers credit report.
Step 5: Loan Modification Approval
Trial Payment Plan
Three Payment Plan
If you get approved for the loan modification with America’s Servicing Company in most of the cases you will be put on 3 month trial payment plan. You will not know what the finalized terms will be that they are offering you but the final payment should be inline with what you will be paying for the mortgage at least at the onset of the new plan.
Finalized Loan Modification
America’s Servicing Company Modification Complete
There is a finalization process when the loan modification is being completed with America’s Servicing.The finalized Loan Modification documents will be sent out somewhere between second and third trial payment if you are on trial payments. They usually come with a prepaid package to return the documents to the lender. Once the documents are returned and the loan modification goes through the final audits with underwriting the master loan documents are amended to show the new terms of the loan.
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How Does ACG Get Paid?
Absolute Consultant Group has a great team to work with your lender to speed up the process. No upfront fees are charged from our side. If you are offered a loan modification but are denied in the end you will not have to pay us anything. Call for details 888-934-3444.
Understanding The America’s Servicing Company Loan Modification Status
If you have talked with America’s Servicing Company you will have noticed that they are not easy to deal with and the paperwork is also not easy and much lengthy. America’s Servicing Company have not been seen a little interested in making the process any simpler but that’s why ACG is here to offer you to assist with your application for the Loan Modification process to get mortgage assistance from your servicer that you and your family deserve.
America’s Servicing Company Help For Consumers
ACG is a company based in the United States to help you with the modification process with America’s Servicing Company. We will be your single point of contact and you will not have to deal with America’s Servicing Company. Working with will get you process going a lot faster and easier.
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America’s Servicing Company Loan Modification Breakdown
What is the America’s Servicing Company Loan Modification Package?
For any mortgage loan serviced by America’s Servicing Company you will have to submit America’s Servicing Company Request for Mortgage Assistance (RMA) package to get loan modification. Depending on the investor involved you should always use the most up to date paperwork for your application; It will be much better if you speak with America’s Servicing Company or a professional before submitting the package. The paperwork we last found was put up on the Absolute Consultant Group(ACG) Website. ACG helps homeowners with their America’s Servicing Company Loan Modification process.
There are 11 Sections to the standard America’s Servicing Company Loan Modification Package.
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America’s Servicing Company Loan Modification RMA Package PDF Breakdown:
Hardship Letter Affidavit
Application Check List
- Page 1 – About You On this page ASC really covers the basic information about the borrower and the co-borrower. It covers the contact information for each, their social security information, along with making sure to gather the mailing address for each.
- Page 2- About Your Property There is a disclosure that covers SCRA (Soldiers and Sailors Act) information but this page is really about ASC covering what they need to know about the property. The home attached to your mortgage loan needs to be qualified by various factors. They want to know your residence status and if it’s a rental modification you are applying for. ASC also has models they use based on the number of residents in the home to establish reasonable monthly budgets. Afso they need to know if your intent is to keep or sell the home. Lastly, they ask you what property it is you are asking for assistance with and if the insurance is up to date.
- Page 3- About Your Mortgage Loan It seems odd but this section the use to ask you questions that it seems like ASC would know like are your taxes escrowed or is your home insurance included with your payment. The one question they ask that they wouldn’t know is if you have a homeowners association or other types of dues.
- Page 4 – About Your Property Title This is where your ASC mortgage asks about additional liens and judgments. They cover if there are second mortgages and how to contact and of these lien holders.
- Page 5 – Listing Status and Employment Information ASC considers all mortgage solutions through their “One Decision” policy so they take into consideration whether you are actively markeing the property for sale, with whom you have the home listed and if you’ve received an offers. They also cover in a very simple way the employment history and whether either of the borrowers are currently unemployeed. No matter what the situation ASC Mortgage is always trying to establish when things started.
- Page 6 Financial Information (Income) ASC Loan Borrower Financial Information assistance package asks for your monthly budget. ASC wants to cover all the basics so they ask, for one, about your gross/net income. You need to inlude all sources of income including non-borrower contributors in the budget. You must also inform them of any assets that you have. This includes but is not limited to, bank checking accounts, and anything else you have of value.
- Page 7 – Financial Information (Expenses)In this area you have to make sure you cover everything that is part of your monthly expenses spanning from food to utilities to child costs.
- Page 8 – Hardship Affidavit ASC always looks for the reason you are defaulting. They look to see that issue has been resolved because otherwise they won’t be able to set you up on a sustainable plan and reach affordability. This section covers somewhat what a hardship letter covers such as the date the hardship occured and additional details surrounding the situation.
- Page 9 – Wells Fargo Hardship Affidavit Continued This page is a series of boxes that cover different types of hardship so you only have to fill out what applies to you.
- Page 10 – Assistance To Date ASC like most lenders must assure they did everything they could to help mitigate losses so they ask you if you’ve previously received assistance, whether or not you filed bankruptcy and if you’ve been speaking to credit counseling agencies what their name and number is.
- Page 11 – Government Use This last section doesn’t really require the borrower to do too much but to fill out some basic census type information.
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Disclaimer: Using The Wrong Form May Lead To A Denial
We provide mortgage servicers mortgage assistance package, forms, and applications to for educational purposes only. This is a sample document used to obtain mortgage assistance relief workout programs with your mortgage servicer. Prior to completing the form contact your (your client's) Mortgage's servicing department OR one of our professionals at 888-934-3444 to make sure they are sending the right loan modification or short sale package. Your home loan servicer, whether dealing with a Home Loan Modification or Short Sale (mortgage settlement, short pay off or discounted payoff) RMA Package offered on this website may not be the correct package depending on your investor. By downloading this RMA (Request for Mortgage Assistance) from our website does not guarantee loan modification assistance or any other mortgage relief programs to try to avoid foreclosure through mortgage servicer, its agents, employees, affiliates or subsidiaries. Prior to the use of any documents you should consult an attorney.