Loan Modification Forum - LoanSafe.org - View Single Post - Loan Modification for multiple rental properties

HopingtoFind · 12-07-2008, 06:48 PM

Hi ***,

I was confused with the following from the thread you posted:

The law office provided me with a cool excel spreadsheet that allowed me to plug in income and expenses and it automatically calculated my current deficit with the existing financing and also showed the monthly surplus I would have in the event of modification. I have a few loans and showed a surplus in the range of $150-$200 with modified loan.

I always understood you say that one needs to have $150-$200 surplus with current financials and if you have a deficit they would not even work with you. Did I not understand you correctly? Or does it depend on the servicer and investor one deals with?

12-07-2008, 06:48 PM	#12 (permalink)
HopingtoFind Senior Member Join Date: Oct 2008 Posts: 556	Re: Loan Modification for multiple rental properties Hi *, I was confused with the following from the thread you posted: The law office provided me with a cool excel spreadsheet that allowed me to plug in income and expenses and it automatically calculated my current deficit with the existing financing and also showed the monthly surplus I would have in the event of modification. I have a few loans and showed a surplus in the range of $150-$200 with modified loan. I always understood you say that one needs to have $150-$200 surplus with current** financials and if you have a deficit they would not even work with you. Did I not understand you correctly? Or does it depend on the servicer and investor one deals with?