Hardship Letter - Capital Mortgage Services of Texas



The following Is a list of documents you should collect and be prepared to present to discuss options for assistance.Possible documents requested TOC \o "1-3" \h \z \u Hardship Letter PAGEREF _Toc502852918 \h 1FHA Unemployment Affadavit PAGEREF _Toc502852919 \h 1IRS-related, income-verification documents PAGEREF _Toc502852920 \h 11099 (IRS Form 1099) PAGEREF _Toc502852921 \h 14506-T (IRS Form 4506-T) (Request for Tax Transcript) PAGEREF _Toc502852922 \h 1Distribution Statements PAGEREF _Toc502852923 \h 2Federal Tax Return (1040/1040EZ) PAGEREF _Toc502852924 \h 2W-2 PAGEREF _Toc502852925 \h 2W-8 (IRS Form W-8) PAGEREF _Toc502852926 \h 2Income from employment or investments PAGEREF _Toc502852927 \h 2Financial Statements (Profit and Loss Statements) PAGEREF _Toc502852928 \h 2Lease or Rental Agreement PAGEREF _Toc502852929 \h 2Pay Stub PAGEREF _Toc502852930 \h 2Rental Income PAGEREF _Toc502852931 \h 2Income or Expenses related to sources that are not employment/investments PAGEREF _Toc502852932 \h 2Benefits Letters PAGEREF _Toc502852933 \h 2Canceled Checks PAGEREF _Toc502852934 \h 3Child Support PAGEREF _Toc502852935 \h 3Contribution Letter (Non-Borrower Financial Contribution) PAGEREF _Toc502852936 \h 3Foster Care Contract PAGEREF _Toc502852937 \h 3Gift Funds (Gift Letter) PAGEREF _Toc502852938 \h 3Guardianship (Conservator Agreement) PAGEREF _Toc502852939 \h 3Assets and Liabilities PAGEREF _Toc502852940 \h 3Bank/Asset Statements PAGEREF _Toc502852941 \h 3Bill of Sale (Sales Contract) (Conveyance Contract) PAGEREF _Toc502852942 \h 3Divorce Decree PAGEREF _Toc502852943 \h 3Payoff Statement PAGEREF _Toc502852944 \h 3Property Tax Statement PAGEREF _Toc502852945 \h 4Real Estate Schedule (Real Property Schedule) (REO) (Schedule of Real Estate Owned) PAGEREF _Toc502852946 \h 4Separation Agreement PAGEREF _Toc502852947 \h 4Trust Agreement PAGEREF _Toc502852948 \h 4Authorizations and Certifications PAGEREF _Toc502852949 \h 4Attorney Consent Form PAGEREF _Toc502852950 \h 4Borrower's Certification/Verification PAGEREF _Toc502852951 \h 4Dodd-Frank Certification PAGEREF _Toc502852952 \h 4Home Equity Request for Restriction PAGEREF _Toc502852953 \h 4Personal Identification PAGEREF _Toc502852954 \h 4Power of Attorney PAGEREF _Toc502852955 \h 5Power of Attorney Affidavit PAGEREF _Toc502852956 \h 5Proof of Occupancy PAGEREF _Toc502852957 \h 5Third-Party Authorization PAGEREF _Toc502852958 \h 5Unemployment Affidavit PAGEREF _Toc502852959 \h 5Hardship LetterA hardship letter should clearly describe the reason you are having trouble paying your mortgage, such as:IllnessJob lossReduced incomeOverextended use of creditReduced incomeIt should also include:Any steps you have taken to avoid defaulting on your loan, such as cutting expenses or using savingsWhat you would like, such as a lower interest rate or reduced principalAvoid delays in processing your applicationFor all documents: Make sure the copies you send are legible.Do not include documents that have been altered with correction fluid or by other means.Submit the entire requested document and include all pages (even blank ones).FHA Unemployment AffadavitFHA unemployment affidavit Loan number:____________________________ I (Borrower name) ___________________________________________hereby certify and state that I: Became unemployed on ______________________________. (day, month, year) Am actively seeking and available for employment. Signed this _______ day of __________________________, 20___. Borrower signature By signing this affidavit I am confirming the above statements. Please return this signed agreement.IRS-related, income-verification documents1099 (IRS Form 1099)Provide this form to show your income from investments, tax refunds, retirement income, and other sources.4506-T (IRS Form 4506-T) (Request for Tax Transcript)Provide this form to give Wells Fargo permission to obtain a copy of recent tax returns from the IRS.Distribution StatementsProvide these documents to show income you receive from a 401(k), IRA, annuity, profit-sharing, pension, disability plan, trust, or other retirement plan.Federal Tax Return (1040/1040EZ)Provide a complete federal income tax return, including all forms and schedules, to show your income from all sources.W-2Confirm wages paid and taxes withheld by your employer with this document.W-8 (IRS Form W-8)Complete this form if you are a non-resident alien who qualifies for certain withholding exemptions. Income from employment or investmentsFinancial Statements (Profit and Loss Statements)Submit bank and tax statements to show self-employment income.Lease or Rental AgreementProvide this document to show income you’re receiving from a property.Pay StubVerify your income from your job with recent pay stubs.Rental IncomeSubmit bank statements or tax returns to show income you receive from rental property.Income or Expenses related to sources that are not employment/investmentsBenefits Letters Submit a child support, disability insurance, Social Security, or unemployment benefits statement to verify income from sources other than employment or investments.Canceled ChecksSend copies of canceled checks to show expenses you have paid.Child SupportProvide bank or tax statements to show child support payments.Contribution Letter (Non-Borrower Financial Contribution)Provide a letter from anyone living in your home to show the person’s contribution to its maintenance.Foster Care ContractVerify financial arrangements for foster care with this document.Gift Funds (Gift Letter)Explain in a letter the source of funds you receive as gifts.Guardianship (Conservator Agreement)Provide this agreement to show you have the legal authority to act on someone else’s behalf.Assets and LiabilitiesBank/Asset StatementsProvide personal banking and brokerage statements to show banking and investment account balances.Bill of Sale (Sales Contract) (Conveyance Contract)Provide this document to show sales price for personal property other than real estate.Divorce DecreeSubmit this document to show your obligations under your divorce agreement for paying mortgages and other debts, along with various income agreements.Payoff StatementSubmit this statement to show how much principal, interest, and miscellaneous fees are needed to pay off your outstanding mortgage balance.Property Tax StatementSubmit this document to show tax charges, exemptions, abatements, and any tax credits you have on your property.Real Estate Schedule (Real Property Schedule) (REO) (Schedule of Real Estate Owned)Submit this form to show income and debt associated with properties you own.Separation AgreementSubmit this agreement to show how much you’re required to pay for various debts, including mortgages, and income you receive as part of the separation.Trust AgreementProvide this document as proof of a trust’s assets that can be used to make mortgage payments.Authorizations and CertificationsThese documents allow you to verify your identity and give permission for certain actions. You won’t need to provide all the documents listed here — your home preservation specialist will let you know which ones are required in your situation.Attorney Consent FormAttorneys should use this form to tell us how we can communicate with clients during a bankruptcy, mediation, or litigation proceeding.Borrower's Certification/Verification Use this form to certify that all of the information you've provided on your application is true and correct. Dodd-Frank Certification Use this form to certify that you haven''t been convicted of various crimes in the past 10 years.Home Equity Request for RestrictionUse this form to give Wells Fargo permission to restrict future advances from your home equity account.Personal Identification Confirm your identification with a government-issued photo ID.Power of AttorneyAuthorize someone to act on your behalf in private affairs, business, or other legal matters with a power of attorney (POA).Power of Attorney Affidavit Complete this form to authorize someone to act on your behalf in private affairs, business, or other legal matters with a power of attorney (POA). Proof of Occupancy Submit these documents to prove you are living in your home.Third-Party AuthorizationComplete this form to authorize us to speak with someone else about your loan application and your personal information related to the loan application.Unemployment Affidavit Use this form to provide information on when you became unemployed and if you are actively seeking employment. ................
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