Loans, Debt & Credit - View Single Post

sweetp27 · 08-20-2009, 08:50 PM

Hi everyone! Our loan is serviced by ASC, and we actually successfully completed a loan mod with them last year. Unfort. I lost my full time job and am getting unemployment now, while my husband is still, thankfully, working. Anyways, we filled out our financial worksheet, and we are <375> / month. I know when we did our mod before that we were also in the negative, but I don't remember by how much. Also, our monthly payment is much higher than 31% of our gross income.
I'm just wondering if anyone knows / what success people have had starting out with a negative income.
In order to get our $2446 payment down to 31% of our gross, it would have to be lowered to about $1950, which would give us a surplus of about $125 at that amount.
Am hoping that we can get this done ourselves with ASC, like we did previously.
Any info, advice is much appreciated!!!

Best of luck to all!

08-20-2009, 08:50 PM	#1 (permalink)
sweetp27 Member Join Date: Aug 2009 Posts: 7 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Financial worksheet question Hi everyone! Our loan is serviced by ASC, and we actually successfully completed a loan mod with them last year. Unfort. I lost my full time job and am getting unemployment now, while my husband is still, thankfully, working. Anyways, we filled out our financial worksheet, and we are <375> / month. I know when we did our mod before that we were also in the negative, but I don't remember by how much. Also, our monthly payment is much higher than 31% of our gross income. I'm just wondering if anyone knows / what success people have had starting out with a negative income. In order to get our $2446 payment down to 31% of our gross, it would have to be lowered to about $1950, which would give us a surplus of about $125 at that amount. Am hoping that we can get this done ourselves with ASC, like we did previously. Any info, advice is much appreciated!!! Best of luck to all!