You've been served with foreclosure documents and now you're wondering: What's my next move to fight this action? Once you are served with foreclosure papers there are two options. You can be reinstated or you can request a loan modification.
If you are fortunate enough to be granted a loan modification, it is such a relief to know that you have saved your home! Almost losing your home to a foreclosure can be a scary wake up call that you hope to never have to go through again. Some people unfortunately do face foreclosure more than once, and when this happens there are many things to consider. One of them is whether you can modify your loan again.
One of the most common complaints from homeowners trying to get a loan modification is that they have to keep sending documents that they've already submitted to their loan servicer.
In desperate need of a loan modification to save their home and avoid foreclosure, they are stuck in a sea of paperwork, bureaucracy, and uncertainty that seems like it will never end.
Why does this happen?
Borrowers who want a loan modification are required to submit an application to their loan servicer, called a request for mortgage assistance (RMA), that includes many financial documents.