Would $28,000 in stock bonds affect a loan modification application?

[lexar]

The $28,000 has not been touched for 6 years. The applicant invested $15,000. It is the only source of retirement income. Applicant has always been self employed with no 401K or other savings. She's approximately 15 years away from retirement, if that makes a difference. Currently she and her spouse bring in apx. $3500 a month w/ a mortgage of $2900. All other savings have been depleted. She will be loosing her income shortly due to an upcoming surgical procedure. They have now missed 2 mortgage payments. If the $28,000 in stocks would be considered liquid assets, can she avoid issues by moving it into an IRA? Thanks for the help.

[capote203]

The $28,000 has not been touched for 6 years. The applicant invested $15,000. It is the only source of retirement income. Applicant has always been self employed with no 401K or other savings. She's approximately 15 years away from retirement, if that makes a difference. Currently she and her spouse bring in apx. $3500 a month w/ a mortgage of $2900. All other savings have been depleted. She will be loosing her income shortly due to an upcoming surgical procedure. They have now missed 2 mortgage payments. If the $28,000 in stocks would be considered liquid assets, can she avoid issues by moving it into an IRA? Thanks for the help.

it would be considered liquid assets. Money in retirement plans are not supposed to be considered liquid assets -

[yomann]

I would move those funds into an IRA - one for each spouse ASAP, before submitting a mod application.
Guidelines for liquid assets is 3 months of living expenses.