Bank Ready Package


  • The first page of your documents package contains a list of all of the documents included with your proposal
  • A Lender's Checklist page for confirming that you've submitted all of the required documents
  • Your written proposal detailing your reason for claiming hardship, and how you can afford to keep your home under better terms
  • Lender Income/Expense and Asset/Liability worksheets
  • If self-employed, your current Profit & Loss Report, which  will be copied to Quickbooks
  • Lender Financial Hardship checklist



  In addition to the concise documentation APS provides in our standard package plan, APS will further strengthen your case by including a professionally written and composed letter of hardship, and additional supporting documents including:

Letter of Hardship

Lender Specific Financial Statement

Request for Transcript of
Tax Return 4506-T

Freddie Mac 1126 Financial Statement (if applicable)

What we need from you


  Current Mortgage Statements

  • Copies of all delinquency Notices of Default
  • Most recent tax returns
  • Last 2 months pay stubs
  • Last 2 months bank statements
  • Current profit & loss statements
    (if self employed)
  • Latest property tax statement
    (if not escrowed)
  • Proof of Insurance
    (if not escrowed)
  • Copy of your Driver's License

Net Present Value Calculation


 The NPV formula contains secret ingredients, so it's hard for delinquent borrowers to influence the results when seeking a loan modification. But there are a couple of things  APS can do.

If you are determined to remain in the home, say so. Make it loud and clear that you don't want to lose your home, and explain why. Maybe you live near your aging parents, who need your care-giving, or you would be intensely embarrassed by foreclosure. Enlist the aid of APS  to construct a hardship letter.



 The federal government's home value projections are updated at the beginning of each quarter. There's a slim chance that the numbers could change in your favor from one quarter to the next, so if you are turned down for a mortgage modification, you might try applying again the following quarter (if it's not too late).



 Although Bankruptcy can stop a foreclosure sale date it will NOT restructure your loan. It merely sets up a repayment structure, whereby you pay your current payment to your lender, and also a second payment to the potential trustee for the many years of back payments you owe. It may not be a permanent solution in your situation, but at times a delay tactic.

APS has years of experience with both Chapter 13 and Chapter 7 ask your advisor for more information.




Premature Sale


 Sometimes homeowners behind on their mortgage are encouraged to simply sell their home when they’re behind on payments. However it can often be very lucrative for you to keep your home through mortgage litigation and start making a new lower mortgage payment or simply utilize the home for an investment property. Mortgage litigation can also buy a significant amount time in the property by delaying foreclosure.

Past Due Arrears


  Foreclosure is scary and is usually a process homeowners are entirely unfamiliar with. The anxiety can lead a homeowner into finding all possible means to pay back the entire past due arrears directly to the lender. Before jumping to this conclusion you should consult with professionals. APS professionals can often negotiate the elimination of lender servicing fees and penalties when obtaining a reinstatement quote. It’s also possible to capitalize all past due arrears and start off with a fresh payment through mortgage litigation.