Any and all information submitted in support of requests for a loan modification is subject to verification by Provident, including but not limited to documentation substantiating a hardship. Once the borrower's income and liabilities as well as corresponding ratios are evaluated and a determination has been rendered, Provident's decision will be final. Provident will NOT advise borrowers, or their attorneys or agents, as to how to make adjustments to their income and liabilities in order to qualify for a modification.

Provident is not required to consider a resubmission of the same documentation, even if submitted by a different attorney or agent on behalf of the borrower. A subsequent submission following a denial will not be considered unless there is a legitimate, independently verifiable change in a borrower's personal or financial circumstances since the prior submission which warrants the review of additional information. This change must be explained in reasonable detail in a separate letter which includes supporting documentation. Upon review of this additional information, Provident may invite the borrower, or their attorneys or agents, to submit a new financial package which reflects the borrower's changed circumstances. All decisions on subsequent submissions following an initial denial will be final.

You must submit your best and final offer along with all financial package requirements. Further, the bank will only consider a single offer at any given time. Provident will not receive any additional offer until a pending offer is actually rejected. Although Provident will make every attempt to respond within fourteen (14) days, Provident makes no guarantee as to the timeliness of its response to a short sale request. Borrowers will receive a response via regular U.S. mail only. Provident will not conduct negotiations over the telephone.

Once a complete package has been reviewed by Provident, its decision will be final. Provident will not consider any resubmissions, including different offer(s), for up to twenty-one (21) days following the issuance of a declination letter.

Provident's consideration of a short sale request does not constitute a waiver of any contractual rights and/or powers granted pursuant to the terms and conditions of the Promissory Note and Deed of Trust in favor of Provident. As such, Provident will continue with any collection action, to begin or currently in progress, including foreclosure proceedings, under the covenants of the Deed of Trust.

Helpful Documents:

• Form 4506-C Request for Transcript of Tax Return
• Form SSA-89 Authorization to Release SSN Verification
• Financial Statement Worksheet (excel)

Required:

• Complete and sign Provident's Financial Statement.
• A signed statement describing current situation and the reason you are requesting assistance.
• Copies of two most recent pay stubs or vouchers, showing year-to-date earnings.
• Copies of signed federal income tax returns for the last two years, including all schedules and W-2 forms.
• Copies of two most recent bank statements, for all accounts, including Checking, Savings, Investment, and Retirement, include all pages.
• Completed and signed Form 4506C Request for Transcript of Tax Return for each borrower.
• Completed and signed Form SSA89 Social Security Number Verification for each borrower.
• Proof of Owner Occupancy; two of the following:
  • Drivers License
  • Your Voter Registration Card
  • Recent Utility Bill

As Applicable - A Copy of:

• Junior Lien Holder Note, Last Billing. You must contact your junior lien holder and request a modification to your Note and Deed of Trust and provide proof of compromise/modification from the junior lien holder.
• Rental Agreements
• Terminate Notice
• Unemployment Eligibility Letter and One Month of Compensation Benefit Receipts Disability Award Letter and Evidence of Disability Benefits Received
• Divorce Papers
• Bankruptcy Papers
• SELF EMPLOYED - Two years signed 1099, K1, 1120, and 1065. Year to Date audited Profit & Loss and Balance Sheet.

Our request for documentation does NOT constitute a modification or a short sale until a final agreement has been agreed to in writing by Provident.

SHORT SALE -- PLEASE NOTE ADDITIONAL REQUIREMENTS

• Offer
• Estimated Closing Date
• Written approval from Junior Lien Holder - You must know the requirements of the Junior Lien Holder to determine the estimated Net amount to Provident
• Buyers' new loan pre-qualification letter.
• Estimated Net Sheet - MUST Include:
  • Show estimated Net amount to Provident
  • Amount to CLOSE should show ZERO
  • The SELLER must net ZERO (Note: Overages should be used to increase the payoff amount to Provident)

Provident Bank will only consider a short sale in extreme and rare circumstances. You must speak with a Provident representative to find out whether the bank will consider a short sale in your particular situation. However, if a foreclosure sale date has already been set on your property, Provident will not consider a short sale for any reason.

If a Provident representative advises you that a short sale may be considered, you must submit your best and final offer along with all financial package requirements. Further, the bank will only consider a single offer at any given time. Provident will not receive any additional offer until a pending offer is actually rejected. Although Provident will make every attempt to respond within fourteen (14) days, Provident makes no guarantee as to the timeliness of its response to a short sale request. Borrowers will receive a response via regular U.S. mail only. Provident will not conduct negotiations over the telephone.

Once a complete package has been reviewed by Provident, its decision will be final. Provident will not consider any resubmissions, including different offer(s), for up to twenty-one (21) days following the issuance of a declination letter.

Provident's consideration of a short sale request does not constitute a waiver of any contractual rights and/or powers granted pursuant to the terms and conditions of the Promissory Note and Deed of Trust in favor of Provident. As such, Provident will continue with any collection action, including foreclosure proceedings, under the covenants of the Deed of Trust.