Loan Modification Forum - LoanSafe.org - View Single Post

Murray12 · 07-20-2009, 06:33 AM

First off - YOU DO NOT HAVE TO BE LATE TO QUALIFY FOR THE MAKING HOME AFFORDABLE MODIFICATION. Sorry for the caps just want it to stick out for anyone getting here by Google or scanning the page.

Do you have a hardship? If you have a hardship then you can qualify for the HAMP program. The link I provided above shows some of the hardship examples.

You do not have to accept the forbearance. It seems to me that banks are just trying to put people in forbearance agreements. Banks are starting to get pressure to perform the modifications and there are going to be reports on individual banks in regards to their modification progress.

If this is a Fannie/Freddie loan you don't have to worry about a surplus. The 31% is strictly based on your montly housing debt to income ration.

07-20-2009, 06:33 AM	#15 (permalink)
Murray12 Senior Member Join Date: Jun 2009 Location: MA Posts: 109 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Forebearance = trial period? First off - YOU DO NOT HAVE TO BE LATE TO QUALIFY FOR THE MAKING HOME AFFORDABLE MODIFICATION. Sorry for the caps just want it to stick out for anyone getting here by Google or scanning the page. Do you have a hardship? If you have a hardship then you can qualify for the HAMP program. The link I provided above shows some of the hardship examples. You do not have to accept the forbearance. It seems to me that banks are just trying to put people in forbearance agreements. Banks are starting to get pressure to perform the modifications and there are going to be reports on individual banks in regards to their modification progress. If this is a Fannie/Freddie loan you don't have to worry about a surplus. The 31% is strictly based on your montly housing debt to income ration. __________________ SunTrust Predatory Lending - My personal blog and fight with SunTrust's predatory lending practices. Please take a look and add a comment.