Who needs Uniform Borrower Assistance Form?
An individual experiencing a temporary or long-term hardship who needs financial help in paying out the mortgage must complete and submit the Uniform Borrower Assistance Form when requesting it.
What is the purpose of the Uniform Borrower Assistance Form?
The submission of the Uniform Borrower Assistance Form (also known as Fannie Mae/Freddie Mac Form 710) is the only acceptable means to claim a hardship and apply for the financial ?assistance with paying mortgage.
Is the Uniform Borrower Assistance Form accompanied by any other forms?
There is a comprehensive list of documents that must be attached while filing the completed borrower assistance 710 form on page 2 of the page that must be properly checked up and followed depending on the circumstances and conditions of the claimant.
When is the Uniform Borrower Assistance Form due?
The submission of the form does not require following a deadline, it should be submitted along with all the supporting documentation when the need arises.
How to fill out the Fannie Mae/Freddie Mac Borrower Assistance Form?
The Borrower Assistance Form 710 is a four-page document. It requires the provision of the following information:
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Loan ID number
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Actions to take about the property
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Whether the property is occupied
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Information about the borrower (full name, SSN, DOB, address, property address, etc.)
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Information about the co-borrower
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The monthly household income
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The monthly household expenses/debt
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Household assets (associated with the property and borrower(s)
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Which required documents are attached to the form
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Hardship affidavit (which is a written explanation of the hardship)
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And the final part is the Borrower/Co-borrower acknowledgement and agreement.