Home Loans and Support

HAMP Loan Modification

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by ovenseri, Jun 29, 2011.

  1. ovenseri

    ovenseri LoanSafe Member

    I am self employed, and I am trying to apply for loan modification under HAMP. The principal balance on my loan is $593,415.78 and my home is worth about $420,000. What would be the minimum income on my P&L statement to qualify?
  2. Cat Damiano

    Cat Damiano Mortgage Wars

    Hi ovenseri,



    Welcome to the forum and thank you for joining..........

    Put the other required figures in to the following thread and ask this question there, they should be able to help you:

    http://www.loansafe.org/forum/loan-...-workout-solution-post-your-situation-17.html
  3. ovenseri

    ovenseri LoanSafe Member

    For HAMP, I want to be cleared on this before submitting my application. The $7,200 required is it Gross or Net Income for YTD or MTD. For example, I have June P&L, will the $7,200 be YTD net income? I would appreciate your immediate reponse.

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