For everyone who has received an approved modification! - Loan Modification Forum

Questions · 07-15-2009, 07:35 AM

Hi all. Just wondering if your new mortgage payment was lowered to exactly 31% of your income or were some of you able to get lower mortgage payments in some cases that allowed your payment to be less than 31% of your net income?

Thanks so much for your responses!!!

LHarveyMadman · 07-15-2009, 10:05 AM

When I received my modification from B of A last year, the PITI of the new loan came to about 29.5% of my monthly gross income for the first mortgage. I have a second loan, and adding those payments brought my housing PITI to 37% of gross.

indeep1959 · 07-15-2009, 02:34 PM

I am currently under consideration for a loan mod from B of A. Were you able to get your second loan modified as well?(Whether with B of A or not)

LHarveyMadman · 07-15-2009, 04:04 PM

I haven't tried to modify my second. The combined DTI is not a hardship for me anymore.

07-15-2009, 07:35 AM	#1 (permalink)
Questions Senior Member Join Date: Jun 2009 Posts: 52 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	For everyone who has received an approved modification! Hi all. Just wondering if your new mortgage payment was lowered to exactly 31% of your income or were some of you able to get lower mortgage payments in some cases that allowed your payment to be less than 31% of your net income? Thanks so much for your responses!!!

07-15-2009, 10:05 AM	#2 (permalink)
LHarveyMadman Senior Member Join Date: Oct 2008 Location: California Posts: 554 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: For everyone who has received an approved modification! When I received my modification from B of A last year, the PITI of the new loan came to about 29.5% of my monthly gross income for the first mortgage. I have a second loan, and adding those payments brought my housing PITI to 37% of gross.

07-15-2009, 02:34 PM	#3 (permalink)
indeep1959 Member Join Date: Jan 2009 Posts: 24 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: For everyone who has received an approved modification! I am currently under consideration for a loan mod from B of A. Were you able to get your second loan modified as well?(Whether with B of A or not)

07-15-2009, 04:04 PM	#4 (permalink)
LHarveyMadman Senior Member Join Date: Oct 2008 Location: California Posts: 554 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: For everyone who has received an approved modification! I haven't tried to modify my second. The combined DTI is not a hardship for me anymore.

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