escrow analysis

[bcg1968]

As I understand the MHA guidelines, the servicers are required to perform
an escrow analysis.I was told by my negotiator last Tuesday that my mod
was being looked over by managers that day and she would be getting back too me.I haven't heard back from her as yet but did notice that
Friday the 28th an escrow analysis does done although it was not due to be done until 11/2009.I showed a $205 surplus on my income and expense paperwork when I submitted my documents back in July.Our town
made an "accounting error" in 2007 that resulted in a 25% increase in our tax for 2008.Now I intercepted this and applied more funds into my ecsow but apparently not enough as this analysis they just did shows a shortfall and with the 16.6 reserve there allowed and the projected shortage, my escrow amount is going up $250 a month starting 10/2009.So starting
in October I will have a deficit of $45.Now when I do get my tax bill in November I fully expect it to be lower than what it was last year and this will offset the escrow payment along with me putting more money into the account.Ofcourse thats not for a couple months.With all that said, has anyone ran across this situation and had it affect their qualifications?I
thought I had read somewhere where the Feds required a borrower to show a surplus after the 31% for a modification.I read in here some people are being told they have to show a surplus before modification?

[Garry]

Originally Posted by bcg1968

I thought I had read somewhere where the Feds required a borrower to show a surplus after the 31% for a modification.I read in here some people are being told they have to show a surplus before modification?

I haven't read this, It's my understanding that your back end debt doesn't matter. They only use it to determine if you need to be sent to credit counseling. I could be wrong on this.

[mojamz]

I think the banks are misleading those of us who are not educated fully to understand MHA guidelines. I went to Fannie Mae's website and reviewed a the servicer"s guide. There is also a servicer's checklist to read and understand what the servicer is expected to doduring the modification process. I think this will prepare me for my negiotiator's BS i, if any. I will be armed and ready with questions?

https://www.efanniemae.com/sf/mha/mh...rrowersolicit/