Net Rent Income Question? - Loan Modification Forum

rwhite · 06-03-2009, 07:50 PM

Under the HAMP guidelines, monthly net rent income is to be calculated at 75% of the gross rent with the remaining 25% considered vacancy loss and maintenance expense. How about if you have a roommate in your primary home, is the same guideline applicable? Or does it depend on each lender? Does anyone know how Wells Fargo treats it? Thanks.

classicgk · 06-07-2009, 06:24 AM

Don't know but sign a lease with him and get a monthly check that you photocopy before depositing....best of luck Joe

06-03-2009, 07:50 PM	#1 (permalink)
rwhite Junior Member Join Date: May 2009 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Net Rent Income Question? Under the HAMP guidelines, monthly net rent income is to be calculated at 75% of the gross rent with the remaining 25% considered vacancy loss and maintenance expense. How about if you have a roommate in your primary home, is the same guideline applicable? Or does it depend on each lender? Does anyone know how Wells Fargo treats it? Thanks.

06-07-2009, 06:24 AM	#2 (permalink)
classicgk Senior Member Join Date: Jan 2009 Posts: 58 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Net Rent Income Question? Don't know but sign a lease with him and get a monthly check that you photocopy before depositing....best of luck Joe

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