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Find out four things that you need to be prepared to provide your mortgage company if you want to stop house foreclosure. In order to get your mortgage company to work with you to stop house foreclosure, chances are that you will need to provide them with a whole lot of documented proof of financial hardship. Financial hardship requirements and paperwork varies by mortgage company but here are a few things you should be prepared to provide them. 1. A current overview of your income and expenses. In order for them to decide if they are willing and/or able to work with you, they will need to know what your current financial picture looks like. Here is where you are going to need to get honest with yourself and your mortgage company about what your financial picture really looks like. Doing this exercise might also help you figure out where you can cut back on your expenses. If you want to stop house foreclosure, you will need to find areas to cut back. 2. Documented proof of your current income. If you have a job, this will mean getting pay stubs. If you have incoming coming in from other sources, you will have to provide proof of that as well. I had child support and maintenance payments that I had to provide proof of. Sending them copies of checks worked in my case. 3. Tax returns for the past few years. My mortgage company required the past 3 years of tax returns. If you file a 1040, just to be on the safe side, I would provide them with any schedules (A, B, etc) and any additional forms as well as the 1040 form itself. 4. Hardship letter. Here is where you explain what your financial hardship is. Here is where you get to make your case. Explain that you want to stop house foreclosure and what your situation is. Some things that many mortgage companies will accept as financial hardship is divorce, job loss or disability. Every mortgage company has different requirements and in order to stop house foreclosure, you will need to get the requirements from your bank. A helpful tip: Fax or email all of the paperwork that they want all at once. They are busy and it is very likely that your information could get lost or misplaced if you fax or email your paperwork in separate batches to them. Also always reference your loan number on everything that you send to them. If you want to stop house foreclosure, you are going to need to work with your bank. If financial hardship is part of the picture for you, you are going to need to provide them with proof of that. Be prepared to work with them and get them whatever they need. Get more free foreclosure advice at http://www.Stopping-Home-Foreclosure.com/StopHouseForeclosure.html
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