What Is a Request for Modification Affidavit Form?


Quick Answer

A request for modification affidavit form is a form submitted to a lender by a borrower when the borrower is experiencing financial difficulties and must ask the lender to modify the terms of his mortgage, the Mortgage Relief Project says. Banks such as Wells Fargo have an affidavit included in their packet of modification request documents. Borrowers generally document their reasons for financial distress in this affidavit, the Mortgage Relief Project notes.

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Full Answer

This affidavit, referred to as a hardship affidavit, is written by the borrower as part of the modification request, the Mortgage Relief Project explains. There are two important pieces of information to include in this affidavit: the reasons why the borrower has fallen behind on his payments and how he plans on fulfilling his payment obligation when moving forward.

When composing the affidavit, it's important to only include the necessary information that relates to the reason for the request, the Mortgage Relief Project suggests. The borrower should check with the lender to ensure that the reasons for requesting a modification to the mortgage qualifies as financial hardship. Examples of valid financial hardships include illness or mounting medical expenses, military service, unexpected loss of income, separation or divorce. There are a few reasons why a borrower may want a modification, but it's usually done to avoid a short sale or foreclosure.

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