Loan Modification Forum - LoanSafe.org - View Single Post

2much2pay · 05-06-2009, 08:45 AM

I went to my counseling session today.

I am pre-qualified for a modification. The information I was given by the incompetant reps before was false. I have been told by the NSC and the approved HUD counselor that a partial claim is not the same as a modification. In order to qualify for a modification under an FHA loan, you have to be past due 90 days, your reason for falling behind this time cannot be the same as last, (this is probably the lenders guideline),You must have a positive income after expenses are paid. They have offered me the Making Home Affordable Program for now. Lets hope all turns out good. I hope in the future, someone that falls into the same situation as I, will find this information useful. I will update my status during the process.

05-06-2009, 08:45 AM	#13 (permalink)
2much2pay Senior Member Join Date: May 2009 Posts: 136 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Denied Modification I went to my counseling session today. I am pre-qualified for a modification. The information I was given by the incompetant reps before was false. I have been told by the NSC and the approved HUD counselor that a partial claim is not the same as a modification. In order to qualify for a modification under an FHA loan, you have to be past due 90 days, your reason for falling behind this time cannot be the same as last, (this is probably the lenders guideline),You must have a positive income after expenses are paid. They have offered me the Making Home Affordable Program for now. Lets hope all turns out good. I hope in the future, someone that falls into the same situation as I, will find this information useful. I will update my status during the process.