Form 710 Fannie Mae PDF Details

Understanding the 710 Fannie Mae Form is crucial for homeowners facing financial difficulties. This form serves as a comprehensive tool for individuals experiencing temporary or long-term financial hardship, offering a pathway to requesting mortgage relief. Completion and submission of this form are vital steps in exploring available assistance options. By providing detailed information about personal intentions regarding the home, the property’s current condition, bankruptcy status, and any engagement with credit counseling agencies, borrowers lay the groundwork for aid. The form proceeds to require disclosures about income, expenses, and assets, ensuring a thorough understanding of the borrower’s financial situation. It mandates the submission of supporting income and hardship documentation, which is integral to the review process. Additionally, the Hardship Affidavit on the third page prompts borrowers to articulate the nature of their hardship and agree to significant certifications about the truthfulness of the information provided. This protocol underscores the importance of honesty and accuracy in the pursuit of mortgage relief, outlining the responsibilities of both the borrower and the servicing entities. Overall, the form encapsulates a structured approach towards evaluating and addressing the financial difficulties homeowners might face, emphasizing the necessity of complete and truthful disclosures in the process of seeking assistance.

QuestionAnswer
Form NameForm 710 Fannie Mae
Form Length4 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min
Other namesborrower assistance form 710, borrower assistance, fannie mae freddie mac form 710, form 710

Form Preview Example

UNIFORM BORROWER ASSISTANCE FORM

If you are experiencing a temporary or long-term hardship and need help, you must complete and submit this form along with other required documentation to be considered for available solutions. On this page, you must disclose information about (1) you and your intentions to either keep or transition out of your home; (2) the property’s status; (3) bankruptcy; and (4) your credit counseling agency.

On Page 2, you must disclose information about all of your income, expenses and assets. Page 2 also lists the required income documentation that you must submit in support of your request for assistance. Then on Page 3, you must complete the Hardship Affidavit in which you disclose the nature of your hardship. The Hardship Affidavit informs you of the required documentation that you must submit in support of your hardship claim.

NOTICE: In addition, when you sign and date this form, you will make important certifications, representations and agreements, including certifying that all of the information in this Borrower Assistance Form is accurate and truthful and any identified hardship has contributed to your submission of this request for mortgage relief.

REMINDER: The Borrower Response Package you need to return consists of: (1) this completed, signed and dated Borrower Assistance Form; (2) completed and signed IRS Form 4506T-EZ (4506T for self-employed borrowers or borrowers with rental income); (3) required income documentation; and (4) required hardship documentation.

Loan Number ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ(usually found on your monthly mortgage statement)

Servicer’s Name ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

I want to:

 

Keep the Property

Vacate the Property

Sell the Property

Undecided

 

 

 

 

 

 

 

 

 

 

The property is currently:

My Primary Residence

A Second Home

An Investment Property

 

 

 

 

 

 

 

 

 

 

 

 

The property is currently:

Owner Occupied

Renter Occupied

Vacant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BORROWER

 

 

 

 

 

CO-BORROWER

 

BORROWER’S NAME

 

 

 

 

 

CO-BORROWER’S NAME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SOCIAL SECURITY NUMBER

 

DATE OF BIRTH

 

 

 

SOCIAL SECURITY NUMBER

 

DATE OF BIRTH

 

 

 

 

 

 

 

 

 

 

HOME PHONE NUMBER WITH AREA CODE

 

 

 

 

HOME PHONE NUMBER WITH AREA CODE

 

 

 

 

 

 

 

 

 

CELL OR WORK NUMBER WITH AREA CODE

 

 

 

 

CELL OR WORK NUMBER WITH AREA CODE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MAILING ADDRESS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PROPERTY ADDRESS (IF SAME AS MAILING ADDRESS, JUST WRITE SAME)

 

 

 

 

EMAIL ADDRESS

 

 

 

 

 

 

 

 

 

 

 

Is the property listed for sale?

Yes

No

 

 

 

Have you contacted a credit counseling agency for help?

If yes, what was the listing date? ___________

 

 

 

Yes

No

 

 

 

If property has been listed for sale, have you received an offer on the

 

 

If yes, please complete the counselor contact information below:

property?

___________

Yes

No

 

 

 

Counselor’s Name: ___________________________________

Date of offer:

Amount of Offer: $ _______________

 

Agency’s Name:

___________________________________

Agent’s Name:

____________________________________________

 

 

 

Counselor’s Phone Number: ____________________________

Agent’s Phone Number:

 

 

 

 

 

 

 

 

 

 

Counselor’s Email Address:

____________________________

For Sale by Owner?

Yes

No

 

 

 

 

 

 

 

 

 

 

 

 

Do you have condominium or homeowner association (HOA) fees?

Yes

 

No

 

 

 

 

Total monthly amount: $

 

Name and address that fees are paid to:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Have you filed for bankruptcy?

Yes

If yes, what is the filing Date: __________

No

If yes:

Chapter 7

Has your bankruptcy been discharged?

 

Chapter 11

Chapter 12

Chapter 13

Yes

No

Bankruptcy case number: ______________

Is any Borrower an active duty service member?

 

Yes

No

 

Has any Borrower been deployed away from his/her primary residence or received a Permanent Change of Station order?

Yes

No

 

Is any Borrower the surviving spouse of a deceased service member who was on active duty at the time of death?

Yes

No

 

 

 

 

 

 

Fannie Mae/Freddie Mac Form 710

Page 1 of 4

 

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4

UNIFORM BORROWER ASSISTANCE FORM

Monthly Household Income

 

Monthly Household Expenses and Debt

Household Assets (associated with the

 

 

 

 

 

 

 

 

 

Payments

 

property and/or borrower(s)excluding

 

 

 

 

 

retirement funds)

Gross wages

$

 

First Mortgage Payment

$

Checking Account(s)

$

Overtime

$

 

Second Mortgage Payment

$

Checking Account(s)

$

Child Support / Alimony*

$

 

Homeowner’s Insurance

$

Savings / Money Market

$

Non-taxable social security/SSDI

$

 

Property Taxes

$

CDs

$

Taxable SS benefits or other monthly

$

 

Credit Cards / Installment Loan(s) (total

$

Stocks / Bonds

$

income from annuities or retirement

 

 

minimum payment per month)

 

 

 

plans

 

 

 

 

 

 

Tips, commissions, bonus and self-

$

 

Alimony, child support payments

$

Other Cash on Hand

$

employed income

 

 

 

 

 

 

Rents Received

$

 

Car Lease Payments

$

Other Real Estate (estimated value)

$

Unemployment Income

$

 

HOA/Condo Fees/Property Maintenance $

Other

$

Food Stamps/Welfare

$

 

Mortgage Payments on other properties $

 

$

Other

$

 

Other

$

 

$

Total (Gross income)

$

 

Total Household Expenses and Debt

$

Total Assets

$

Payments

Any other liens (mortgage liens, mechanics liens, tax liens, etc.)

Lien Holder’s Name

Balance and Interest Rate

Loan Number

Lien Holder’s Phone Number

Required Income Documentation

Do you earn a salary or hourly wage?

For each borrower who is a salaried employee or

paid by the hour, include paystub(s) reflecting the most recent 30 days’ or four weeks' earnings and

documentation reflecting year-to-date earnings, if not reported on the paystubs (e.g. signed letter or printout from employer).

Are you self-employed?

For each borrower who receives self-employed income, include a complete, signed individual federal income tax return and, as applicable, the business tax return; AND either the most recent signed and dated quarterly or year-to-date profit/loss statement that reflects activity for the most recent three months; OR copies of bank statements for the business account for the last two months evidencing continuation of business activity.

Do you have any additional sources of income? Provide for each borrower as applicable:

“Other Earned Income” such as bonuses, commissions, housing allowance, tips, or overtime:

Reliable third-party documentation describing the amount and nature of the income (e.g., paystub, employment contract or printouts documenting tip income).

Social Security, disability or death benefits, pension, public assistance, or adoption assistance:

Documentation showing the amount and frequency of the benefits, such as letters, exhibits, disability policy or benefits statement from the provider, and

Documentation showing the receipt of payment, such as copies of the two most recent bank statements showing deposit amounts.

Rental income:

Copy of the most recent filed federal tax return with all schedules, including Schedule E—Supplement Income and Loss. Rental income for qualifying purposes will be 75% of the gross rent you reported reduced by the monthly debt service on the property, if applicable; or

If rental income is not reported on Schedule E – Supplemental Income and Loss, provide a copy of the current lease agreement with either bank statements or cancelled rent checks demonstrating receipt of rent.

Investment income:

Copies of the two most recent investment statements or bank statements supporting receipt of this income.

Alimony, child support, or separation maintenance payments as qualifying income:*

Copy of divorce decree, separation agreement, or other written legal agreement filed with a court, or court decree that states the amount of the alimony, child support, or separation maintenance payments and the period of time over which the payments will be received, and Copies of your two most recent bank statements or other third-party documents showing receipt of payment.

*Notice: Alimony, child support, or separate maintenance income need not be revealed if you do not choose to have it considered for repaying this loan.

Fannie Mae/Freddie Mac Form 710

Page 2 of 4

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UNIFORM BORROWER ASSISTANCE FORM

HARDSHIP AFFIDAVIT

I am requesting review of my current financial situation to determine whether I qualify for temporary or permanent mortgage loan relief

options.

Date Hardship Began is:

 

 

 

 

I believe that my situation is:

 

 

Short-term (under 6 months)

Medium-term (6 – 12 months)

Long-term or Permanent Hardship (greater than 12 months)

I am having difficulty making my monthly payment because of reason set forth below:

(Please check the primary reason and submit required documentation demonstrating your primary hardship)

 

If Your Hardship is:

 

Then the Required Hardship Documentation is:

 

 

 

 

Unemployment

 

No hardship documentation required

 

 

 

 

Reduction in Income: a hardship that

 

No hardship documentation required

 

 

 

 

has caused a decrease in your income

 

 

 

 

 

 

due to circumstances outside your

 

 

 

 

 

 

control (e.g., elimination of overtime,

 

 

 

 

 

 

reduction in regular working hours, a

 

 

 

 

 

 

reduction in base pay)

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase in Housing Expenses: a

 

No hardship documentation required

 

 

 

 

hardship that has caused an increase in

 

 

 

 

 

 

your housing expenses due to

 

 

 

 

 

 

circumstances outside your control

 

 

 

 

 

 

Divorce or legal separation; Separation

 

Divorce decree signed by the court; OR

 

 

 

 

of Borrowers unrelated by marriage,

 

Separation agreement signed by the court; OR

 

 

 

 

civil union or similar domestic

 

Current credit report evidencing divorce, separation, or non-occupying

 

 

 

 

partnership under applicable law

 

borrower has a different address; OR

 

 

 

 

 

 

Recorded quitclaim deed evidencing that the non-occupying Borrower or co-

 

 

 

 

 

Borrower has relinquished all rights to the property

 

 

 

 

 

 

 

 

 

 

 

Death of a borrower or death of either

 

Death certificate; OR

 

 

 

 

the primary or secondary wage earner

 

Obituary or newspaper article reporting the death

 

 

 

 

in the household

 

 

 

 

 

 

Long-term or permanent disability;

 

Proof of monthly insurance benefits or government assistance (if applicable); OR

 

 

 

Serious illness of a borrower/co-

 

Written statement or other documentation verifying disability or illness; OR

 

 

 

borrower or dependent family member

 

Doctor’s certificate of illness or disability; OR

 

 

 

 

 

 

Medical bills

 

 

 

 

 

None of the above shall require providing detailed medical information.

 

 

 

 

Disaster (natural or man-made)

 

Insurance claim; OR

 

 

 

 

adversely impacting the property or

 

Federal Emergency Management Agency grant or Small Business Administration

 

 

 

Borrower’s place of employment

 

loan; OR

 

 

 

 

 

 

Borrower or Employer property located in a federally declared disaster area

 

 

 

Distant employment transfer / Relocation

For active duty service members: Notice of Permanent Change of Station (PCS) or

 

 

 

 

actual PCS orders.

 

 

 

 

 

For employment transfers/new employment:

 

 

 

 

 

 

Copy of signed offer letter or notice from employer showing transfer to a new

 

 

 

 

 

employment location; OR

 

 

 

 

 

 

Paystub from new employer

 

 

 

 

 

In addition to the above, documentation that reflects the amount of any relocation

 

 

 

 

assistance provided, if applicable (not required for those with PCS orders).

 

 

 

 

 

 

 

 

 

 

 

Business Failure

 

Tax return from the previous year (including all schedules) AND

 

 

 

 

 

 

Proof of business failure supported by one of the following:

 

 

 

 

 

 

Bankruptcy filing for the business; OR

 

 

 

 

 

 

Two months recent bank statements for the business account evidencing

 

 

 

 

 

cessation of business activity; OR

 

 

 

 

 

 

Most recent signed and dated quarterly or year-to-date profit and loss

 

 

 

 

 

statement

 

 

 

 

 

 

 

 

 

 

 

Other: a hardship that is not covered

 

Written explanation describing the details of the hardship and relevant

 

 

 

 

above

 

documentation

 

 

 

Fannie Mae/Freddie Mac Form 710

 

Page 3 of 4

June

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Borrower/Co-Borrower Acknowledgement and Agreement

I certify, acknowledge, and agree to the following:

1.All of the information in this Borrower Assistance Form is truthful and the hardship that I have identified contributed to my need for mortgage relief.

2.The accuracy of my statements may be reviewed by the Servicer, owner or guarantor of my mortgage, their agent(s), or an authorized third party*, and I may be required to provide additional supporting documentation. I will provide all requested documents and will respond timely to all Servicer, or authorized third party*, communications.

3.Knowingly submitting false information may violate Federal and other applicable law.

4.If I have intentionally defaulted on my existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this request for mortgage relief or if I do not provide all required documentation, the Servicer may cancel any mortgage relief granted and may pursue foreclosure on my home and/or pursue any available legal remedies.

5.The Servicer is not obligated to offer me assistance based solely on the representations in this document or other documentation submitted in connection with my request.

6.I may be eligible for a trial period plan, repayment plan, or forbearance plan. If I am eligible for one of these plans, I agree that:

a.All the terms of this Acknowledgment and Agreement are incorporated into such plan by reference as if set forth in such plan in full.

b.My first timely payment under the plan will serve as acceptance of the terms set forth in the notice of the plan sent by the Servicer.

c.The Servicer’s acceptance of any payments under the plan will not be a waiver of any acceleration of my loan or foreclosure action that has occurred and will not cure my default unless such payments are sufficient to completely cure my entire default under my loan.

d.Payments due under a trial period plan for a modification will contain escrow amounts. If I was not previously required to pay escrow amounts, and my trial period plan contains escrow amounts, I agree to the establishment of an escrow account and agree that any prior waiver is revoked. Payments due under a repayment plan or forbearance plan may or may not contain escrow amounts. If I was not previously required to pay escrow amounts and my repayment plan or forbearance plan contains escrow amounts, I agree to the establishment of an escrow account and agree that any prior escrow waiver is revoked.

7.A condemnation notice has not been issued for the property.

8.The Servicer or authorized third party* will obtain a current credit report on all borrowers obligated on the Note.

9.The Servicer or authorized third party* will collect and record personal information that I submit in this Borrower Response Package and during the evaluation process. This personal information may include, but is not limited to: (a) my name, address, telephone number, (b) my social security number, (c) my credit score, (d) my income, and (e) my payment history and information about my account balances and activity. I understand and consent to the Servicer or authorized third party*, as well as any investor or guarantor (such as Fannie Mae or Freddie Mac), disclosing my personal information and the terms of any relief or foreclosure alternative that I receive to the following:

a.Any investor, insurer, guarantor, or servicer that owns, insures, guarantees, or services my first lien or subordinate lien (if applicable) mortgage loan(s) or any companies that perform support services to them; and

b.The U.S. Department of Treasury, Fannie Mae and Freddie Mac, in conjunction with their responsibilities under the Making Home Affordable program, or any companies that perform support services to them.

10.I consent to being contacted concerning this request for mortgage assistance at any telephone number, including mobile telephone number, or email address I have provided to the Lender/Servicer/ or authorized

third party*. By checking this box, I also consent to being contacted by text messaging.

 

_________________________________

__________

___________________________

__________

Borrower Signature

Date

Co-Borrower Signature

Date

*An authorized third party may include, but is not limited to, a counseling agency, Housing Finance Agency (HFA) or other similar entity that is assisting me in obtaining a foreclosure prevention alternative.

Fannie Mae/Freddie Mac Form 710

Page 4 of 4

June

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How to Edit Form 710 Fannie Mae Online for Free

When you need to fill out assistance form 710, you don't have to download any sort of software - simply try using our PDF tool. Our tool is continually evolving to provide the best user experience possible, and that is because of our resolve for continuous enhancement and listening closely to user feedback. Here is what you would want to do to start:

Step 1: Just press the "Get Form Button" at the top of this page to start up our pdf file editor. This way, you will find all that is needed to work with your document.

Step 2: This editor enables you to work with the majority of PDF documents in a range of ways. Modify it by writing your own text, adjust what's originally in the file, and place in a signature - all doable in no time!

Filling out this PDF will require attention to detail. Ensure all necessary areas are filled out properly.

1. The assistance form 710 necessitates certain details to be entered. Ensure the following blanks are completed:

Filling in section 1 of borrower assistance form 710

2. Once your current task is complete, take the next step – fill out all of these fields - Email address, Primary phone number Cell Home, Alternate phone number Cell, Coborrowers name, Social Security Number last, Email address, Primary phone number, Cell Home Work Other, Alternate phone number, Cell Home Work Other, Preferred contact method choose, Is either borrower on active duty, Property Information, Property Address, and Mailing address if different from with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

Completing part 2 in borrower assistance form 710

3. This next step is all about The property is currently A, The property is select all that, I want to Keep the property, Is the property listed for sale, Is the property subject to, Fannie MaeFreddie Mac Form, Page of, and August - fill in each one of these empty form fields.

borrower assistance form 710 conclusion process detailed (part 3)

People frequently make some mistakes while filling out The property is select all that in this area. You need to go over whatever you enter right here.

4. This next section requires some additional information. Ensure you complete all the necessary fields - Hardship Information, The hardship causing mortgage, Shortterm up to months Longterm, TYPE OF HARDSHIP CHECK ALL THAT, REQUIRED HARDSHIP DOCUMENTATION, Unemployment, Not required, Reduction in income a hardship, Not required, decrease in your income due to, Increase in housingrelated, Not required, Disaster natural or manmade, Not required, and Longterm or permanent disability - to proceed further in your process!

borrower assistance form 710 writing process described (step 4)

5. While you near the completion of your form, there are actually a few more requirements that should be satisfied. Particularly, Divorce or legal separation, Separation of borrowers unrelated, union or similar domestic, Note Detailed medical information, Final divorce decree or final, Recorded quitclaim deed OR, occupying borrower or coborrower, Death of borrower or death of, secondary wage earner, Death certificate OR Obituary or, Distant employment, For active duty service members, Station PCS orders or letter, For employment transfersnew, and signed offer letter or notice from should be filled in.

Final divorce decree or final, Note Detailed medical information, and For employment transfersnew in borrower assistance form 710

Step 3: Right after you have reviewed the information you filled in, click on "Done" to complete your document creation. Obtain the assistance form 710 when you join for a 7-day free trial. Instantly get access to the pdf form from your personal cabinet, with any edits and changes conveniently saved! We do not sell or share any information that you enter whenever dealing with forms at our website.