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

  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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