"Workout Proposal Required Materials" - Delaware

Workout Proposal Required Materials is a legal document that was released by the Delaware Department of Justice - a government authority operating within Delaware.

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WORKOUT PROPOSAL REQUIRED MATERIALS
Required Documents needed are checked off
Homeowner Name: __________________________________________
Date of the Request: _________________________________________
TIP: EVEN IF YOU HAVE PROVIDED SOME OR ALL OF THE ABOVE INFORMATION TO THE LENDER
PREVIOUSLY BRING IT WITH YOU TO THE MEDIATION!
 3 MONTHS OF RECENT BANK STATEMENTS - MOST RECENT FROM DATE OF MEDIATION some
banks will not accept online printouts of statements so you will need to provide the actual statement (or a PDF
printout)
 30 days of Pay Stubs (most recent from date of mediation)
 2 most current years of Tax Returns (signed & dated)
 Hardship Letter
 HAMP application
 Signed and dated IRS Form 4506T (Request for Transcript of Tax Return) – available on bank website
 If you have your own business: a Profit And Loss Statement (greater of past 3 months or year-to-date)
 If you have tenants: a signed lease or notarized letter(s) from tenant(s) with proof of receipt of the most recent 2
months of rental payments
 If you are getting contributions from a third party: Notarized Third Party Letter of Authorization
 Proposal, including amount of up-front funds and any interest rate reduction request
 Proof of other household income (Unemployment, SS, child support, etc.)
 Current Utility Bills
 If Recently Awarded Disability: A Copy Of Award Letter
 If You Are Receiving Child Support Or Alimony: Documentation Reflecting The Amount And Frequency Of
Payments, and proof of receipt of the 2 most recent months
 If You Have Student Loans That Are In A Deferred Status: Proof Of Deferment
 Dodd Frank Certification
 If Loans Have Been Charged Off: Proof Of Charge Off
 Financial statement sheet – including monthly budget of income and expenses*
 Your most recent correspondence from the lender
If you are seeking a short-sale:
 Estimated HUD-1 Settlement Statement
 Listing agreement
 Agreement of Sale
 Mortgage Commitment
 Contact number and consent for bank access appraisal
 Other _____________________________________________________________
TIP: REVIEW YOUR CREDIT REPORT BEFORE MEDIATION AND BE PREPARED TO ADDRESS FOR
ALL ITEMS/ACCOUNTS ON REPORT: SOME BANKS WILL ATTRIBUTE YOU WITH MAKING MINIMUM
REQUIRED PAYMENTS EVEN IF YOU ARE PAYING NOTHING
PLEASE KEEP IN CONTACT WITH YOUR HOUSING COUNSELOR AND MAKE SURE YOU
PROVIDE THE COUNSELOR WITH UPDATED DOCUMENTS.
WORKOUT PROPOSAL REQUIRED MATERIALS
Required Documents needed are checked off
Homeowner Name: __________________________________________
Date of the Request: _________________________________________
TIP: EVEN IF YOU HAVE PROVIDED SOME OR ALL OF THE ABOVE INFORMATION TO THE LENDER
PREVIOUSLY BRING IT WITH YOU TO THE MEDIATION!
 3 MONTHS OF RECENT BANK STATEMENTS - MOST RECENT FROM DATE OF MEDIATION some
banks will not accept online printouts of statements so you will need to provide the actual statement (or a PDF
printout)
 30 days of Pay Stubs (most recent from date of mediation)
 2 most current years of Tax Returns (signed & dated)
 Hardship Letter
 HAMP application
 Signed and dated IRS Form 4506T (Request for Transcript of Tax Return) – available on bank website
 If you have your own business: a Profit And Loss Statement (greater of past 3 months or year-to-date)
 If you have tenants: a signed lease or notarized letter(s) from tenant(s) with proof of receipt of the most recent 2
months of rental payments
 If you are getting contributions from a third party: Notarized Third Party Letter of Authorization
 Proposal, including amount of up-front funds and any interest rate reduction request
 Proof of other household income (Unemployment, SS, child support, etc.)
 Current Utility Bills
 If Recently Awarded Disability: A Copy Of Award Letter
 If You Are Receiving Child Support Or Alimony: Documentation Reflecting The Amount And Frequency Of
Payments, and proof of receipt of the 2 most recent months
 If You Have Student Loans That Are In A Deferred Status: Proof Of Deferment
 Dodd Frank Certification
 If Loans Have Been Charged Off: Proof Of Charge Off
 Financial statement sheet – including monthly budget of income and expenses*
 Your most recent correspondence from the lender
If you are seeking a short-sale:
 Estimated HUD-1 Settlement Statement
 Listing agreement
 Agreement of Sale
 Mortgage Commitment
 Contact number and consent for bank access appraisal
 Other _____________________________________________________________
TIP: REVIEW YOUR CREDIT REPORT BEFORE MEDIATION AND BE PREPARED TO ADDRESS FOR
ALL ITEMS/ACCOUNTS ON REPORT: SOME BANKS WILL ATTRIBUTE YOU WITH MAKING MINIMUM
REQUIRED PAYMENTS EVEN IF YOU ARE PAYING NOTHING
PLEASE KEEP IN CONTACT WITH YOUR HOUSING COUNSELOR AND MAKE SURE YOU
PROVIDE THE COUNSELOR WITH UPDATED DOCUMENTS.