How to Get a Loan Modification with Truist Bank (Step-by-Step Guide for Homeowners Behind on Payments)
If you’ve fallen behind on your mortgage with Truist Bank, you’re probably feeling overwhelmed right now.
Maybe you’ve missed a few payments…
Maybe you’ve received a notice of default…
Or worse—your foreclosure date is already scheduled.
Here’s what you need to know:
👉 You may still be able to stop foreclosure—but only if you act strategically.
This guide breaks down exactly how loan modifications with Truist work, how to increase your chances of approval, and when a loan modification may NOT be your best option.
What Is a Loan Modification with Truist?
A loan modification is when Truist Bank agrees to permanently change your mortgage terms to make your payments more affordable.
This can include:
Lowering your interest rate
Extending your loan term (up to 40 years)
Adding missed payments to your balance
Deferring arrears to the end of the loan
✔ Best For:
Homeowners with temporary financial hardship
Borrowers who can afford a reduced monthly payment
Owners who want to stay in the home long-term
Who This Applies To (Important)
This process isn’t just for traditional homeowners.
It also applies to:
Homeowners Behind on Payments
If you’re 30, 60, or 90+ days late, you’re already in the window where action matters most.
Heirs Handling an Inherited Property
If a loved one passed away and the mortgage is still active:
You may qualify for a modification
You may need probate or legal authority
You may NOT want to keep the property
Owners Facing Complicated Situations
Loan modifications get more complex if you’re dealing with:
Foreclosure already filed
Divorce or multiple owners
Liens or code violations
Financial hardship with inconsistent income
👉 In these cases, strategy matters more than paperwork.
How the Truist Loan Modification Process Works
Here’s the real step-by-step process when working with Truist Bank:
Step 1: Identify Your Hardship
You must show why you fell behind, such as:
Job loss or reduced hours
Medical issues
Divorce or separation
Death of a borrower
👉 This is the foundation of your entire application.
Step 2: Submit a Complete Financial Package
This is where most people get stuck.
You’ll typically need:
Pay stubs or proof of income
Bank statements
Tax returns (especially for self-employed borrowers)
Monthly expenses
Hardship letter
⚠️ Missing or outdated documents are the #1 reason for delays and denials.
Step 3: Loss Mitigation Review
Once submitted:
Your file goes to Truist’s loss mitigation team
Foreclosure may temporarily pause (if complete)
You may be asked for updated documents multiple times
👉 Many homeowners lose momentum here due to repeated requests.
Step 4: Trial Payment Plan
If preliminarily approved:
You’ll make reduced payments for 3–4 months
Payments must be made ON TIME
This proves affordability
Step 5: Final Loan Modification
After successful trial payments:
Terms are finalized
Your loan is officially modified
You resume payments under new terms
Why Most Loan Modifications with Truist Get Denied
Let’s be honest—many applications don’t get approved.
Here’s why:
❌ Incomplete documentation
❌ Incorrect income calculations
❌ High debt-to-income ratio
❌ Missed deadlines
❌ Lack of follow-up
And one major issue:
👉 Truist often re-requests documents, which can delay or reset your application timeline.
Special Situations Where You Need a Different Strategy
Inherited Property (Heirs & Estates)
If you inherited a home:
You may need probate before approval
You must prove legal authority
You may not want the property long-term
👉 In many cases, a loan modification may not be the best financial move.
Foreclosure Already Filed
If foreclosure has started:
You are on a strict legal timeline
A complete application is critical
You may need additional strategies to buy time
Divorce or Multiple Owners
Loan modifications can get complicated when:
Ownership and mortgage don’t align
One party wants to keep the home
Disputes delay decision-making
Liens, Code Violations, or Property Issues
Even if you get a modification:
These issues remain
They can impact long-term affordability
When a Loan Modification Is NOT the Best Option
This is where real clarity matters.
A loan modification may NOT make sense if:
You have significant equity in the property
You don’t want to keep the home
The modified payment is still unaffordable
The home needs major repairs
You’re dealing with probate complications
👉 In these cases, modifying the loan can delay the problem—not solve it.
Alternative Options You Should Consider
1. Sell Before Foreclosure
Avoid foreclosure on your record
Access your equity
Control your timeline
2. Cash Offer (Fast, Certain Exit)
Close in as little as 7–14 days
No repairs or cleanup
No financing delays
3. Let the Property Go to Auction (Strategically)
If your property sells for more than what’s owed:
💰 You may be entitled to surplus funds
Example:
Mortgage owed: $200,000
Auction sale price: $250,000
👉 Potential surplus: $50,000
But:
Funds are NOT automatically sent
Claims must be filed correctly
Deadlines apply
Competing claims may arise
Surplus Eligibility Review (Before You Decide Anything)
Before committing to a loan modification—or walking away—you need clarity.
We offer a Surplus Eligibility Review designed to give you real answers.
This review confirms:
✔ How much equity is left in your property
✔ How much cash you could potentially walk away with
✔ Whether selling now or later makes more financial sense
✔ If a loan modification is truly the right move for your situation
👉 This is where many homeowners realize they’ve been sitting on options they didn’t even know existed.
How Visionary Surplus Recovery Helps
We don’t just push one solution—we help you understand the full picture.
✔ Loan Modification Guidance
Proper document preparation
Timeline management
Positioning your file for approval
✔ Foreclosure Strategy
Sale timing
Postponement options
Exit planning
✔ Surplus Recovery
Full claim handling
No upfront fees
Attorney-supported process
Step-by-Step: What You Should Do Right Now
If you’re behind with Truist Bank, take these steps immediately:
Request your mortgage payoff amount
Determine your property’s current value
Identify whether you have equity
Confirm your foreclosure status (if applicable)
👉 These steps determine your BEST path forward.
Final Thoughts
A loan modification with Truist Bank can absolutely help—but only if it’s the right fit.
The biggest mistake homeowners make is choosing a path without understanding:
Their equity
Their timeline
Their real options
You may be:
Able to save your home
Able to sell and walk away with cash
Or entitled to funds after the auction
Get Clarity on Your Situation Today
Complete your Surplus Eligibility Review and get a clear breakdown of your options.
Email us today. Call today.
intake@visionarysurplusrecovery.com ☎ (813) 859-6649
