Deficit? with BOA PLEASE RESPOND

[nygirl07]

I currently show a $500 deficit with BOA....is that Ok? I tried asking them but they weren't very clear on what they wanted and said to just wait to hear from the analyst that has my stuff. Our average income is $3600 (can be more on good months) but he said to give him what we are guaranteed atleast every month...our expenses are $4100 and that includes everything and can go of course change monthly (groceries can go down as can utility bills).

My mortgage payment is $1595 including taxes and insurance....are they just looking at that payment compared to our income or everything? Should I call and redo some things or leave it as is? I can lower the Misc expenses and grocery expenses by $100 each if I have too....what was everyones experience

[Moe Bedard]

It is really tough to say. $500 is not bad and they can go down to as low as 2% to make the debt to income ratios work. If you are denied, you can always reapply and do as you said above.

I urge you not to scrimp too much on food and necessities like that. You have to take care of your family.

[OCNanis1]

nygirl07-Try calling your utility companies & inquire about level payment plans. You pay a fixed amount on a monthly basis & settle up after 6-12 months with either a credit or paying your balance. It has worked great for our family for the last 3 years. Hope that helps.