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Sledge Hammer · 04-26-2009, 01:17 PM

*** Damiano - thanks for the prompt reply.

We have spoken to US Bank reps 3 times. Each time they have told us that US Bank is not participating in any government loan modification program.

They said that they judge a loan is reasonable if the PITI = 40%-45% of net income. Sounds pretty high to me. I am at 53%.

I am at 36.6% front end DTI and 41.3% back end DTI using gross monthly income.

What is really scary is that it takes 2 of my paychecks to make my PITI and according to the above DTI #s this is "not so bad".

Our home value is such that we can not refinance. Do we have other options to reduce our monthly PITI?

Thanks again for this great website and your prompt reply to my initial post.

04-26-2009, 01:17 PM	#60 (permalink)
Sledge Hammer Junior Member Join Date: Apr 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Examples of a Hardship Letter *** Damiano - thanks for the prompt reply. We have spoken to US Bank reps 3 times. Each time they have told us that US Bank is not participating in any government loan modification program. They said that they judge a loan is reasonable if the PITI = 40%-45% of net income. Sounds pretty high to me. I am at 53%. I am at 36.6% front end DTI and 41.3% back end DTI using gross monthly income. What is really scary is that it takes 2 of my paychecks to make my PITI and according to the above DTI #s this is "not so bad". Our home value is such that we can not refinance. Do we have other options to reduce our monthly PITI? Thanks again for this great website and your prompt reply to my initial post.