modification , mha

[lucky4me]

has anyone had b of a denying a mod because they say the income has not had a 10% reduction and fico score is fine?

than they tell me they cant modify because interest rate wont reset until 2014

what is up with that, the hardship letters have all kinds of reasons, not just income

[Evan Bedard]

Hi lucky4me,

has anyone had b of a denying a mod because they say the income has not had a 10% reduction and fico score is fine?

than they tell me they cant modify because interest rate wont reset until 2014

what is up with that, the hardship letters have all kinds of reasons, not just income

I have never seen anywhere that stated you have to have a 10% loss in income in order to qualify. You are right there are many reasons for hardships other than loss of income which will be taken into consideration by these lenders. I suggest to call in and talk to as many reps as needed be. You will be suprised the conflicting information different reps will give you..

[GINADDD]

I am getting ready to request application for MOD from Wells Fargo. According to the tools I found I do qualify for a MOD but my score is very high and I am not late on payments. The one thing I do have going for me is my DTI. I have been dealing with some banks to refi but payment wont change. I have been reading the posts on this site and decided I should at least give it a try but I guess my concern is that I may loose the interest rate offerd if it is not successful. I think I know more after reading but also more confused as to my own personal situation and do I really qualify given what I have read here? Any comments would be greatly appriciated.

[Evan Bedard]

Hi Ginnaddd welcome and thank you for joining.

I am getting ready to request application for MOD from Wells Fargo. According to the tools I found I do qualify for a MOD but my score is very high and I am not late on payments. The one thing I do have going for me is my DTI. I have been dealing with some banks to refi but payment wont change. I have been reading the posts on this site and decided I should at least give it a try but I guess my concern is that I may loose the interest rate offerd if it is not successful. I think I know more after reading but also more confused as to my own personal situation and do I really qualify given what I have read here? Any comments would be greatly appriciated.

Even though you have a high credit score and are current on payments does not mean that you can't qualify for a modification. Can you share a little more information about your situation?