Loan Modification Forum - LoanSafe.org - View Single Post - Bank of America-H4H or modification?

rk123 · 01-17-2009, 01:04 PM

Hi ***,

They have not received any NOD yet as they are only 47 days late as of today. NACA can not help them yet but they have sent to BOA hardship letter and proof of income.
For loan modification how much they can be short and eligible for mod. Can they show income of adult household not on loan/title.
They have been living with that income but hand to mouth and still end up using cards.
Lets say all household income (including non borrowers, adult children) exactly equals the expenses, are they eligible for mod.
Can bank allow to count this income as bank might still think what if any of these non borrowers move out.
In this situation can bank refer them to H4H.
Plz. advise as I don`t know which income should be included.
I want them to afford their home on their personnel income, so that they do not end up in default when the household members move out in future.

01-17-2009, 01:04 PM	#3 (permalink)
rk123 Member Join Date: Jan 2009 Posts: 11 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Bank of America-H4H or modification? Hi ***, They have not received any NOD yet as they are only 47 days late as of today. NACA can not help them yet but they have sent to BOA hardship letter and proof of income. For loan modification how much they can be short and eligible for mod. Can they show income of adult household not on loan/title. They have been living with that income but hand to mouth and still end up using cards. Lets say all household income (including non borrowers, adult children) exactly equals the expenses, are they eligible for mod. Can bank allow to count this income as bank might still think what if any of these non borrowers move out. In this situation can bank refer them to H4H. Plz. advise as I don`t know which income should be included. I want them to afford their home on their personnel income, so that they do not end up in default when the household members move out in future.