I have to send my last 2 bank statements in order to possibly get a trial mod.
We've accumulated some money due to only paying 1/2 of our original loan as part of the forbearance agreement. AND we've cut down our expenses quite a bit. AND I received a bonus check (not much, only $2000)
Thing is we show a decent bank balance and another poster said that if you have 3x your mortgage payment in the bank you'll be denied.
WE DON'T have 3x our original payment in the bank, but WE DO have 3x a projected mortgage payment (31% of my GROSS income) showing on our last bank statement.
Anyone hear about a rule like this?