questions about unemployment income - Loan Modification Forum

rsar999 · 11-03-2009, 06:27 PM

I have seen alot of posts on this site in regards to lenders not counting unemployment as income. I dont know if it is a the lenders discretion or not but for my mod my husbands unemployment income WAS counted-no way could we have done it on my income alone.

MyHAMP · 11-03-2009, 07:10 PM

Quote:

Originally Posted by rsar999

I have seen alot of posts on this site in regards to lenders not counting unemployment as income. I dont know if it is a the lenders discretion or not but for my mod my husbands unemployment income WAS counted-no way could we have done it on my income alone.

I read several posts were members said the lenders require proof that you will get the benefits at least for the next 9 months. I could be wrong though..

davephx · 11-03-2009, 11:00 PM

Yes 9 months now clarified at least for "Fannie Mae-Approved servicers" per Announcemnt 09-31 of 11/2/09.

Confusing however if this is only for Fannie and not other investors, confusion as usual.

davephx · 11-03-2009, 11:05 PM

But I believe this was also in some over all HAMP directives from HAMPAdmin and its just confirming for Fannie loan

JJsFrustration · 11-04-2009, 10:53 AM

Quote:

Originally Posted by davephx

But I believe this was also in some over all HAMP directives from HAMPAdmin and its just confirming for Fannie loan

This would be hard for anybody to provide proof of 9 months left when it takes 6 months just to have somebody start looking into your case.

litehouse01 · 11-04-2009, 10:57 AM

The fannie mae guidelines do say which it states must be receiving for 9 months or longer to be counted as income

11-03-2009, 06:27 PM	#1 (permalink)
rsar999 Senior Member Join Date: Oct 2009 Posts: 41 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	questions about unemployment income I have seen alot of posts on this site in regards to lenders not counting unemployment as income. I dont know if it is a the lenders discretion or not but for my mod my husbands unemployment income WAS counted-no way could we have done it on my income alone.

11-03-2009, 11:00 PM	#3 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,147 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: questions about unemployment income Yes 9 months now clarified at least for "Fannie Mae-Approved servicers" per Announcemnt 09-31 of 11/2/09. Confusing however if this is only for Fannie and not other investors, confusion as usual.

11-03-2009, 11:05 PM	#4 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,147 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: questions about unemployment income But I believe this was also in some over all HAMP directives from HAMPAdmin and its just confirming for Fannie loan

11-04-2009, 10:57 AM	#6 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 497 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: questions about unemployment income The fannie mae guidelines do say which it states must be receiving for 9 months or longer to be counted as income

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