Loan Modification Forum - LoanSafe.org - View Single Post

madresmustang · 06-19-2009, 06:30 AM

I am wondering what all the programs are. The President's plan spoke to be helping people in the circumstances your in. Modifications due to job loss were supposed to be a priority, not the houses people bought but couldn't afford to begin with.

I would look at the IRS website, they have a tax calculator there. I don't think there is a difference in the income type "paying guest or renter" to the IRS income is income. On the forms there is the column "Other Income" I was taught during a tax course that this is where Any income you get beyond the job, investments, self-employment, royalties and such. You are to report monies earned from garage sales, gambling, selling drugs or prostitution. It's funny because they think you'll report income on monies earned from committing a crime

As to the modification I would try www.naca.com/refinance/refinanceTenStep.jsp
I have started that process due to WF not communicating with me, not requesting financial documentation and then disqualifying me with out telling me. They offered me a 2nd loan to get caught up. I had 2 questions about the paperwork for that and never got them answered so I didn't sign the loan documents they sent. So they canceled that without notification to me and put me back to mitigation/foreclosure.

I am not getting any real help or communication from the EXEC Office person so I feel I need an outside person who they may actually listen to and work with.

Show in a Hardship letter how your husband is looking for work, that you are currently not having a child care bill. The only thing with that is they know you may have it again for you both to work. Is there a family member or friend who can help with child care when your husband first goes back to work?

You can show them where you are cutting back do this with showing them the percentages each item is in your budget originally and now that you have cut back the percentage on those which will shrink the % your mortgage is. Your mortgage shouldn't be more than 30% of your income normally it will be more now with job loss. I am following Dave Ramsey's Financial Peace University and Total Money Makeover, great programs and as Dave states first and foremost in the budget in hard times top priority to pay home, utilities, food, transportation (for work) all the rest can wait.

Keep us informed if not just for way to vent and get emotional support during this.

06-19-2009, 06:30 AM	#29 (permalink)
madresmustang Senior Member Join Date: May 2009 Posts: 46 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Wells Fargo Modification Denied I am wondering what all the programs are. The President's plan spoke to be helping people in the circumstances your in. Modifications due to job loss were supposed to be a priority, not the houses people bought but couldn't afford to begin with. I would look at the IRS website, they have a tax calculator there. I don't think there is a difference in the income type "paying guest or renter" to the IRS income is income. On the forms there is the column "Other Income" I was taught during a tax course that this is where Any income you get beyond the job, investments, self-employment, royalties and such. You are to report monies earned from garage sales, gambling, selling drugs or prostitution. It's funny because they think you'll report income on monies earned from committing a crime As to the modification I would try www.naca.com/refinance/refinanceTenStep.jsp I have started that process due to WF not communicating with me, not requesting financial documentation and then disqualifying me with out telling me. They offered me a 2nd loan to get caught up. I had 2 questions about the paperwork for that and never got them answered so I didn't sign the loan documents they sent. So they canceled that without notification to me and put me back to mitigation/foreclosure. I am not getting any real help or communication from the EXEC Office person so I feel I need an outside person who they may actually listen to and work with. Show in a Hardship letter how your husband is looking for work, that you are currently not having a child care bill. The only thing with that is they know you may have it again for you both to work. Is there a family member or friend who can help with child care when your husband first goes back to work? You can show them where you are cutting back do this with showing them the percentages each item is in your budget originally and now that you have cut back the percentage on those which will shrink the % your mortgage is. Your mortgage shouldn't be more than 30% of your income normally it will be more now with job loss. I am following Dave Ramsey's Financial Peace University and Total Money Makeover, great programs and as Dave states first and foremost in the budget in hard times top priority to pay home, utilities, food, transportation (for work) all the rest can wait. Keep us informed if not just for way to vent and get emotional support during this.