surplus/negative on financials - Loan Modification Forum

lucky4me · 10-30-2009, 10:22 AM

is it better to show a surplus of 200.00 or a negative of 180.00 on your financials for mha program/with bac

ohhhdear · 10-30-2009, 10:33 AM

I'm not an expert--- but just from reading different threads-- it sounds like they want a surplus of at least $200 after modification.

Before modification--- it just depends on how much is negative each month.

Sounds like the more negative you are-- it won't look that good.

Please Correct me if I'm wrong on this.

Garry · 10-30-2009, 10:36 AM

It's better to tell the truth. Being negative shouldn't stop a mod so long as you have enough income to cover the new house payment and necessities.

lucky4me · 10-30-2009, 10:41 AM

so when i am showing gross income and net income,
i am only showing my portion of what i give my spouse for house pymt, do i show that figure in both columns, gross and net,

ohhhdear · 10-30-2009, 12:16 PM

There is another thread --under the Do it Yourself

Do It Yourself Loan Modification or Foreclosure Defense Forms - Loan Modification Forum - LoanSafe.org

There are 2 different forms.

Here are some links:

Household Liabilities and Expenses Worksheet

Example of Financial Worksheet

10-30-2009, 10:22 AM	#1 (permalink)
lucky4me Senior Member Join Date: Aug 2009 Posts: 62 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	surplus/negative on financials is it better to show a surplus of 200.00 or a negative of 180.00 on your financials for mha program/with bac

10-30-2009, 10:33 AM	#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: surplus/negative on financials I'm not an expert--- but just from reading different threads-- it sounds like they want a surplus of at least $200 after modification. Before modification--- it just depends on how much is negative each month. Sounds like the more negative you are-- it won't look that good. Please Correct me if I'm wrong on this.

10-30-2009, 10:36 AM	#3 (permalink)
Garry Senior Member Join Date: Aug 2009 Posts: 1,156 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: surplus/negative on financials It's better to tell the truth. Being negative shouldn't stop a mod so long as you have enough income to cover the new house payment and necessities.

10-30-2009, 10:41 AM	#4 (permalink)
lucky4me Senior Member Join Date: Aug 2009 Posts: 62 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: surplus/negative on financials so when i am showing gross income and net income, i am only showing my portion of what i give my spouse for house pymt, do i show that figure in both columns, gross and net,

10-30-2009, 12:16 PM	#5 (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: surplus/negative on financials There is another thread --under the Do it Yourself Do It Yourself Loan Modification or Foreclosure Defense Forms - Loan Modification Forum - LoanSafe.org There are 2 different forms. Here are some links: Household Liabilities and Expenses Worksheet Example of Financial Worksheet

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