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 Georgia CAMP Loan Modification Package is a specialized mortgage assistance program designed to help to struggle homeowners in Georgia modify their existing home loans in order to make their monthly mortgage payments more affordable. It is an initiative supported by the Georgia Department of Community Affairs (DCA) to prevent foreclosures and provide financial relief for homeowners facing hardship due to various reasons such as job loss, medical emergencies, or other financial difficulties. The Georgia CAMP Loan Modification Package offers several types of loan modification options tailored to the specific needs and circumstances of eligible borrowers. These options aim to reduce the monthly mortgage payments to a more manageable level by altering one or more key terms of the existing loan. The different types of loan modifications available to Georgia homeowners include: 1. Interest Rate Reduction: This option involves lowering the interest rate on the loan, resulting in reduced monthly mortgage payments. The reduced interest rate is usually temporary, and after a certain period, it may gradually increase over time. 2. Term Extension: In this type of modification, the loan term is extended, spreading out the remaining balance over a longer period. By extending the term, the monthly payments are reduced, making it more accessible for homeowners to meet their financial obligations. 3. Principal Forbearance: This type of modification allows for a portion of the outstanding principal balance to be temporarily reduced or suspended. Homeowners can potentially have a portion of their loan amount placed on hold until a specified time or when the house is sold, refinanced, or the loan term ends. 4. Principal Reduction: Under this option, a portion of the total loan principal may be permanently forgiven or reduced, effectively lowering the overall loan balance. Homeowners experiencing severe financial hardship may qualify for principal reduction if they meet the program's eligibility criteria. 5. Combination Modification: When necessary, a combination of these modification types can be used to create a modified loan package that best suits the homeowner's needs and improves affordability. Georgia CAMP Loan Modification Package provides homeowners an opportunity to work with their mortgage services to explore these various loan modification options. It is important to note that homeowners must meet certain eligibility criteria and demonstrate a legitimate financial hardship to qualify for the program. Additionally, borrowers are typically required to provide relevant financial documentation, complete application forms, and actively engage in communication with their mortgage services throughout the loan modification process.The Georgia CAMP Loan Modification Package is a specialized mortgage assistance program designed to help to struggle homeowners in Georgia modify their existing home loans in order to make their monthly mortgage payments more affordable. It is an initiative supported by the Georgia Department of Community Affairs (DCA) to prevent foreclosures and provide financial relief for homeowners facing hardship due to various reasons such as job loss, medical emergencies, or other financial difficulties. The Georgia CAMP Loan Modification Package offers several types of loan modification options tailored to the specific needs and circumstances of eligible borrowers. These options aim to reduce the monthly mortgage payments to a more manageable level by altering one or more key terms of the existing loan. The different types of loan modifications available to Georgia homeowners include: 1. Interest Rate Reduction: This option involves lowering the interest rate on the loan, resulting in reduced monthly mortgage payments. The reduced interest rate is usually temporary, and after a certain period, it may gradually increase over time. 2. Term Extension: In this type of modification, the loan term is extended, spreading out the remaining balance over a longer period. By extending the term, the monthly payments are reduced, making it more accessible for homeowners to meet their financial obligations. 3. Principal Forbearance: This type of modification allows for a portion of the outstanding principal balance to be temporarily reduced or suspended. Homeowners can potentially have a portion of their loan amount placed on hold until a specified time or when the house is sold, refinanced, or the loan term ends. 4. Principal Reduction: Under this option, a portion of the total loan principal may be permanently forgiven or reduced, effectively lowering the overall loan balance. Homeowners experiencing severe financial hardship may qualify for principal reduction if they meet the program's eligibility criteria. 5. Combination Modification: When necessary, a combination of these modification types can be used to create a modified loan package that best suits the homeowner's needs and improves affordability. Georgia CAMP Loan Modification Package provides homeowners an opportunity to work with their mortgage services to explore these various loan modification options. It is important to note that homeowners must meet certain eligibility criteria and demonstrate a legitimate financial hardship to qualify for the program. Additionally, borrowers are typically required to provide relevant financial documentation, complete application forms, and actively engage in communication with their mortgage services throughout the loan modification process.
