Uniform Borrower Assistance Form 710 now in effect.

Uniform Borrower Assistance Form 710 now in effect.

Effective Nov. 1, the Uniform Borrower Assistance Form 710 is now included in the foreclosure solicitation letter for all Fannie Mae, Freddie Mac, and military short sales and deeds in lieu of foreclosure transactions.

The new form streamlines the document collection process and reduces the number of forms required by obtaining financial information from a delinquent borrower, or a borrower in imminent default, earlier in the process.

Borrowers will now be required to submit the hardship documentation set forth in Form 710 to demonstrate a valid long-term or permanent hardship for modifications, including HAMP modifications.  This form replaces the Home Affordable Request for Modifications and Affidavit and the Fannie Mae Form 1020 (Borrower’s Financial Form).

Source.. C.A.R. Calif Assoc of Realtors..

Sidney Kutchuk

Sidney Kutchuk is the Broker at Realty Works Temecula. As a Temecula Short Sale Specialist Sidney Kutchuk is helping Temecula CA homeowners avoid Foreclosure. 951-215-6745

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