If you are going through a period of financial hardship, it is wise to seek advice from a loan modification lawyer before the situation gets so bad that you are no longer in a position to negotiate. Be careful how you choose the person that assists you as there are lots of companies that can help you in this regard, like loanmoddepot.com.
When you meet your advisor, you will need to take all the documentation necessary, such as bank statements, bills and any other paperwork that the lawyer might require to complete the loan modification inspection.
You and the loan modification lawyer will need to write a letter to apply for a home loan modification which must clearly state why you have not been able to keep up with the current payments. It could be because of things you could not control, like unforeseen medical bills, retrenchment or any other reason.
After that, you will have to explain how you will be able to keep up with the payments in future if the loan agreement is modified.
If you are not sure how to go about it, loanmoddepot.com has counselling services that will help and advise you regarding the full process of negotiating with the lender and setting up the loan modification process.
Be careful not to wait too long before you start the process of seeking advice and starting the loan modification hardship assistance process. The longer one waits, the worse the situation gets. It could even get to a situation where the lender will be left with no option but to foreclose on the property.