How do they calculate monthly income? - Loan Modification Forum

ABC123 · 11-06-2009, 12:40 PM

Does anybody know exactly how monthly income is calculated?

Is it your salary divided by 12?

Is it your 2 week paystubs added together??

How do they account for the 2 months in the year where the gods smile on me and I get an extra paycheck?

Is overtime included?

Thanks.

lemaudit · 11-06-2009, 12:44 PM

paystub x 26/12 or they use the tax returns

11-06-2009, 12:40 PM	#1 (permalink)
ABC123 Senior Member Join Date: Apr 2009 Posts: 109 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	How do they calculate monthly income? Does anybody know exactly how monthly income is calculated? Is it your salary divided by 12? Is it your 2 week paystubs added together?? How do they account for the 2 months in the year where the gods smile on me and I get an extra paycheck? Is overtime included? Thanks.

11-06-2009, 12:44 PM	#2 (permalink)
lemaudit Senior Member Join Date: Oct 2009 Posts: 111 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: How do they calculate monthly income? paystub x 26/12 or they use the tax returns

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