Your Opinions Please - Loan Modification Forum

litehouse01 · 10-17-2009, 04:18 PM

Is it better to show IF they modify your loan based on the current trial payments a monthly surplus of up to $200.00 or below $200.00?????? I know there was alot of talk not to show too much surplus each month. And there is also the possibilty the modified payment could be higher than the trial payment..........Whats a good rule of thumb??? I have no surplus(I am way negetive) with the original payment before starting the trial payments

ohhhdear · 10-17-2009, 05:02 PM

Just my opinion, but I don't think it would be useful to show a deficit after a modification. They want to see that you can afford the payments , along with other expenses.

I would say a surplus of $200 after modification--rather than a deficit.

I don't know the magical numbers, I just used $200 because that is what you stated.

Just my opinion.

Good luck.

10-17-2009, 04:18 PM	#1 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 493 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Your Opinions Please Is it better to show IF they modify your loan based on the current trial payments a monthly surplus of up to $200.00 or below $200.00?????? I know there was alot of talk not to show too much surplus each month. And there is also the possibilty the modified payment could be higher than the trial payment..........Whats a good rule of thumb??? I have no surplus(I am way negetive) with the original payment before starting the trial payments

10-17-2009, 05:02 PM	#2 (permalink)
ohhhdear Senior Member Join Date: Apr 2009 Location: Florida Posts: 268 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Your Opinions Please Just my opinion, but I don't think it would be useful to show a deficit after a modification. They want to see that you can afford the payments , along with other expenses. I would say a surplus of $200 after modification--rather than a deficit. I don't know the magical numbers, I just used $200 because that is what you stated. Just my opinion. Good luck.

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