A homeowner fills out a Request for Modification and Affidavit form and a Dodd-Frank certification form to apply for the Home Affordable Modification Program, according to the program's official website. He also submits documents to verify his income and a form to request his federal tax return transcript.
The modification request form includes information about the current financial status of the loan and the future plan by the homeowner, notes the Home Affordable Modification Program website. The form contains a section for the homeowner to detail his monthly budget and list household assets. The income part of the budget can include wages, alimony, pensions, unemployment income and welfare. The expense part includes mortgage, insurance, property taxes and credit card payments. The homeowner also states the cause of his financial hardship in an affidavit.
The homeowner also provides a Form 4506T-EZ to the lender so that the lender can obtain the tax return information the homeowner filed on his Form 1040, reports MakingHomeAffordable.gov. Documents to verify income include copies of the two most recent pay stubs showing year-to-date income. Self-employed homeowners may provide the most recent quarterly or year-to-date profit and loss statement. With a Todd-Frank certification, the homeowner declares that he has had no mortgage-related felony, money-laundering or tax-evasion convictions in the last 10 years.