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  1. #1
    Junior Member rasp66's Avatar
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    Apr 2011
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    Loan Mod / Employee Stock purchase

    I am requesting a loan modification with Bank of America and am filling out the Fannie Mae Form 710 per BOA's request. I work for Comcast and have a stock purchase plan. Under the stock purchase plan, I have accumulates $13k worth of stock. I am only vested in a portion of the stock and plan to use it for retirement. My question is do I need to report this on the Fannie Mae form as an investment?


  2. #2
    Mortgage Wars Cat Damiano's Avatar
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    Quote Originally Posted by rasp66 View Post
    I am requesting a loan modification with Bank of America and am filling out the Fannie Mae Form 710 per BOA's request. I work for Comcast and have a stock purchase plan. Under the stock purchase plan, I have accumulates $13k worth of stock. I am only vested in a portion of the stock and plan to use it for retirement. My question is do I need to report this on the Fannie Mae form as an investment?

    As far as the RMA goes, the investments they would be looking for are in the form of rental property. Do these options show on your pay stubs? In many cases there are penalties such as in the case of 401k for early withdrawal of these monies, so they would not have to be used for income purposes on the form. It is also not a monthly income either.
    Best Regards,

    Cat Damiano
    LoanSafe.org Moderator

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