Loan Modification Forum - LoanSafe.org - View Single Post - My monthly deficit too high to get a mod?

ZAP09 · 06-05-2009, 06:48 AM

dcguy-

From what I am gathering, as crazy as it sounds, WF wants to see that you have a small ($200-300) surplus each month according to your "income/expenses". After your credit card modifications,2nd mortgage modification, cancellation of gym memberships, food budget drops, gas prices have gone down, car payment modifications, your new border moves in, etc... perhaps your expenses will be reduced enough to be reconsidered for modification. Make sure the rep. also reads to you what currently is in the computer for each expense, as I earlier stated, my numbers were "entered" incorrectly by someone on their end. The investors don't want to see you as too great a risk, the thinking here really something- but definitely try again to get your numbers where they need to be. By the way, all of my other creditors were fairly easy to get a modification with- right over the phone- every one of them. Keep us posted...

06-05-2009, 06:48 AM	#9 (permalink)
ZAP09 Senior Member Join Date: May 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: My monthly deficit too high to get a mod? dcguy- From what I am gathering, as crazy as it sounds, WF wants to see that you have a small ($200-300) surplus each month according to your "income/expenses". After your credit card modifications,2nd mortgage modification, cancellation of gym memberships, food budget drops, gas prices have gone down, car payment modifications, your new border moves in, etc... perhaps your expenses will be reduced enough to be reconsidered for modification. Make sure the rep. also reads to you what currently is in the computer for each expense, as I earlier stated, my numbers were "entered" incorrectly by someone on their end. The investors don't want to see you as too great a risk, the thinking here really something- but definitely try again to get your numbers where they need to be. By the way, all of my other creditors were fairly easy to get a modification with- right over the phone- every one of them. Keep us posted...