Loans, Debt & Credit - View Single Post - Declined HAMP

lennox · 10-21-2009, 01:57 PM

I have a question. Were you current on your mortgage payment when you sent them the bank documents showing you had savings?

Also...from Fannie Mae form 1021 (dated April 2009)...

Cash reserves do not include assets that serve as an emergency fund (generally equal to three times monthly debt payments).

Of course, I'm beginning to think it really doesn't matter what the HAMP rules are...because the banks seem to be interrupting the rules in anyway it benefits them.

10-21-2009, 01:57 PM	#7 (permalink)
lennox Senior Member Join Date: Oct 2009 Location: Minnesota Posts: 75 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Declined HAMP - Too Much Savings I have a question. Were you current on your mortgage payment when you sent them the bank documents showing you had savings? Also...from Fannie Mae form 1021 (dated April 2009)... Cash reserves do not include assets that serve as an emergency fund (generally equal to three times monthly debt payments). Of course, I'm beginning to think it really doesn't matter what the HAMP rules are...because the banks seem to be interrupting the rules in anyway it benefits them.