*Saving the form is only possible using Adobe _Reader_ XI, PDFexpert (mobile app) or any version of Adobe Acrobat (Standard or Pro)*
Who would benefit from the QAF?
Attorneys & their staff that assist borrowers with requests to modify their mortgage.
B&H Legal Forms has designed an analysis form that will assist you in effectively representing your clients.
What does our form do?
Our form guides you step by step to see if your clients qualify for the various loan modification programs.
Our unique form was designed by a team of loan modification specialists that have worked on hundreds of loan modifications. The form was designed to follow each step that needs to be done to see if your client qualifies for a loan modification. We have used accumulated vast knowledge and condensed it to one form that is easy to use and will reduce the time you need to spend on each file for qualification.
Here are some of the highlights of our form:
- Assists you in determining what income is necessary
- Tips on what income is required to be used and what income is not required to be used
- Directs you to Fannie Mae and Freddie Mac look-up tools to see if the loan is owned by either Fannie Mae or Freddie Mac by the click of a button
- Calculates income for untaxed income such as Social Security and the correct percentage for the rental income (these items are not dollar for dollar!)
- Calculates escrow
- Calculates DTI (debt-to-income) ratios for qualifying for HAMP Tier I and HAMP Tier II
- Lists the acceptable DTI ratios for Servicers under HAMP Tier II
- Calculates Principal Reductions
- Calculates forbearance and partial claims
- Calculates amortization of the new proposed modified loan within 1/8 of a percent
- Calculates remaining months terms by entering maturity date of mortgage
- Calculates Surplus or deficiency for non HAMP modifications
Our form will leave you feeling confident as you pursue modifications of your clients’ mortgages.
Let us help you make your job easier by purchasing the Analysis Form today!