Loan Modification Forum - LoanSafe.org - View Single Post - PLEASE HELP! AHMSI w/2nd with Assets Rec. Systems, desperate to get modification

socaljager · 01-13-2009, 12:06 PM

Hi, Karen -
You are correct in using your take home pay. When being considered for a modification, it's all about your monthly budget. I didn't read all of the posts, but your surplus AFTER a modification at a 5% rate should be around $200. DONT forget to factor in your monthly tax and insurance payments into your budget. This is where so many go wrong and get denied.

If you are having trouble getting to the $200 surplus at a 5% rate, then decide where you can cut back in your montly expenses. Without at least a $200 surplus, your chances of being approved greatly decrease.

01-13-2009, 12:06 PM	#15 (permalink)
socaljager Member Join Date: Oct 2008 Posts: 15 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE HELP! AHMSI w/2nd with Assets Rec. Systems, desperate to get modification Hi, Karen - You are correct in using your take home pay. When being considered for a modification, it's all about your monthly budget. I didn't read all of the posts, but your surplus AFTER a modification at a 5% rate should be around $200. DONT forget to factor in your monthly tax and insurance payments into your budget. This is where so many go wrong and get denied. If you are having trouble getting to the $200 surplus at a 5% rate, then decide where you can cut back in your montly expenses. Without at least a $200 surplus, your chances of being approved greatly decrease.