Transcription of Requirements for ALL VA Modification Programs
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Requirements for ALL VA Modification Programs
Additional Modification Program RequirementsTraditional ModificationStreamline ModificationVA affordable Modification (VAAM)VA Disaster ModificationDisaster Extend ModificationLoan must bear a fixed rate and follow the maximum rate guidelines outlined in VA Regulation loan terms must follow guidelines outlined in VA Regulation must follow guidelines outlined in VA Regulation with regards to including items in the modified 's financials are required for of 12 payments have been made on the has not been modified within the last 3 has not been modified more than 3 times during the life of the must realize at least a 10% reduction in principal and interest portion of the cannot have previously defaulted on a prior Streamline has not submitted a complete workout must complete a 3 month Trial Payment Plan (TPP).
Additional Modification Program Requirements. Traditional Modification Streamline Modification VA Affordable Modification (VAAM) VA Disaster Modification Disaster Extend Modification: Loan must bear a fixed rate and follow the maximum rate ... Subject: Modification Comparison Chart
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