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

ZAP09 · 06-10-2009, 01:09 PM

Thanks ***. I did talk to a exec.office rep this morning. She did confirm that my modification had been denied because it did not meet investors guidelines. She stated that I can resubmit my financials if they have changed. So, I am going over them fine tooth and comb, to get those expenses lowered. Things like I am getting a new health insurance plan to take off $88/mos., I am calling car ins. to take a look at that. At a $272.00 surplus ea. month I don't know what I am aiming for, but will take a swing at it. It sounds like the investor goes off of a credit bureau report (which doesn't reflect the latest modifications on credit cards, HELOC, etc.) So I am supplying documents for each expense I can to show the true picture of where we are at. I also have an e-mail out to NACA as you suggested, all their workshops are full at this time so I am waiting to hear what my next step will be with them. The amount of info. on there website is quite a lot. I am thinking I have actually done some of the steps they do, but I would love some help.

06-10-2009, 01:09 PM	#15 (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? Thanks ***. I did talk to a exec.office rep this morning. She did confirm that my modification had been denied because it did not meet investors guidelines. She stated that I can resubmit my financials if they have changed. So, I am going over them fine tooth and comb, to get those expenses lowered. Things like I am getting a new health insurance plan to take off $88/mos., I am calling car ins. to take a look at that. At a $272.00 surplus ea. month I don't know what I am aiming for, but will take a swing at it. It sounds like the investor goes off of a credit bureau report (which doesn't reflect the latest modifications on credit cards, HELOC, etc.) So I am supplying documents for each expense I can to show the true picture of where we are at. I also have an e-mail out to NACA as you suggested, all their workshops are full at this time so I am waiting to hear what my next step will be with them. The amount of info. on there website is quite a lot. I am thinking I have actually done some of the steps they do, but I would love some help.