Everything I read in here about HAMP states that they will get your mortgage payment to 31% of your income, on your Primary Residence. I have not seen any discussion about the new HAMP (thanks Obama) that now includes rental properties.
Has anyone filed the new HAMP app (7 pages, I think), and had any feedback or success? Obviously, they aren't looking to get the payment to 31% of your income, because it is your rental house. What are they looking for?
If no one knows, can anyone guess what kind of numbers "they" are looking for, in order to approve you for a HAMP on your rental property?
Just trying to figure out which "wheel" to get on (wink wink)