Home Loans and Support

HAMP Mortgage DTI Question

Discussion in 'Option One Mortgage - American Home Mortgage Servi' started by crash, Oct 5, 2009.

  1. crash

    crash LoanSafe Member

    I have been working with AHMS for many months. After submitting duplicates of the same paperwork over-and-over because they kept sending documents stating they were missing paperwork they sent me a HAMP notice saying that I may qualify and to resend all the paperwork.

    I checked the requirements to meet HAMP before I sent my documents in and it seemed like I met all the requirements. My pay has been cut and the mortgage DTI is over 31%. After waiting two months and a few unreturned calls I received a HAMP denial letter over the weekend. The reason: Current adjusted monthly mortgage payment debt to income ratio (DTI) is 31% of less". I have visited the HAMP website and used the calculator. The calculator shows 37% not less than 31%.

    I can only guess this occured because they had us submit the "last two" paystubs of both my wife and I. My wife is paid an hourly rate. The last two paystubs we sent in happen to be the highest my wife has been paid in years.

    I called AHMS today and was told that the negotiator is unavailable and that an e-mail was sent and I will get a call back. I know from history this will not happen.

    Is there something else I should try? I truly believe that my HAMP was denied not based on real numbers but solely on the two paystubs that were provided. Thank you in advance.
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Hi crash welcome and thank you for joining.

    That is exactly where they got their calculations from. I suggest when you get a hold of your negotiator to tell them that and also send in a couple months of her paystubs as well. They should at least use her last 2-3 months worth of paystubs to get a more accurate number..

Share This Page



"Hello Moe, I just wanted to tell you, your website has saved my life (literally), I stumbled on your site in the middle of losing my home, I was able to network with people going through the same thing as I am. I didn't feel alone anymore, I have tried to give back and counsel those that haven't walked in my shoes yet. We hear so much about what is wrong with America, I just wanted you to know, you are whats "right" with America."

Nina Mitchell
Loansafe & MoeSeo Inc. © 2014 | LoanSafe.org is not a bank, lender, mortgage broker, law firm or affiliated with the US Government. Privacy Policy