Home Loans and Support

HELP!!! Just got off the phone with the Negotiator

Discussion in 'Loan Modification' started by Still Trying, Dec 17, 2009.

  1. Still Trying

    Still Trying LoanSafe Member

    Hi - I really need some help. I'm in a panic now and not sure what the next step is! I finally after 10 months talk to a negotiator at BOA and he<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:eek:ffice:eek:ffice" /><o:p></o:p>
    told me that my numbers look good: <o:p></o:p>
    <TABLE class=MsoNormalTable style="WIDTH: 205pt; BORDER-COLLAPSE: collapse; mso-padding-alt: 0in 0in 0in 0in" cellSpacing=0 cellPadding=0 width=273 border=0><TBODY><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 0; mso-yfti-firstrow: yes"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; WIDTH: 119pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-alt: solid windowtext .5pt" width=159>Gross pay check bi weekly-
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; WIDTH: 86pt; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-top-alt: solid windowtext .5pt; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt" width=115> $ 2,115.39
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 1"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt"> Net pay check bi weekly
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 1,494.76
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 2"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Roommate - $1200 but 75%
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 900.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 3"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt">
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 4"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Total Monthly Income
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 3,889.52
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 5"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt">
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 6"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Expenses
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt">
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 7"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">1st Mortgage
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 1,948.60
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 8"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">2nd Mortgage
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 477.53
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 9"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">HOA Fee
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 246.95
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 10"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Car Payment
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 283.84
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 11"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Car Insurance
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 60.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 12"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Pepco
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 200.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 13"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt"><?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:eek:ffice:smarttags" /><st1:State w:st="on"><st1:place w:st="on">Washington</st1:place></st1:State> Gas
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 11.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 14"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Student Loan
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 123.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 15"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Verizon
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 30.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 16"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Gas
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 80.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 17"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Food
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 225.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 18"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Entertainment
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 100.00
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 19"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">Total Monthly Expense
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 3,785.92
    </TD></TR><TR style="HEIGHT: 12.75pt; mso-yfti-irow: 20"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 12.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt">
    </TD></TR><TR style="HEIGHT: 15.75pt; mso-yfti-irow: 21; mso-yfti-lastrow: yes"><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt">
    </TD><TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 0in; BORDER-TOP: #d4d0c8; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: #d4d0c8; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid; HEIGHT: 15.75pt; BACKGROUND-COLOR: transparent; mso-border-bottom-alt: solid windowtext .5pt; mso-border-right-alt: solid windowtext .5pt"> $ 103.60
    </TD></TR></TBODY></TABLE>
    However, that I will not qualify for HAMP because the investors would have to agree to for bare $294,000.00 because based on my income and that I would only be able to afford a $189.00 payment a month at 2%. This is the most ridiculous thing that I have ever heard. He told me that he could offer me a traditional modification (I guess this mean in house) at best would be around 3.5% for the next 40 years with a payment of $1,381.54 a month. I then asked him how he figured that I only could afford $189.00 a month and he said that was 31% of my take home. I said HAMP is based off of 31% of gross and he said really I didn’t know that!!!! Are you kidding! He then said let me rerun the numbers and said that I still wouldn’t qualify because it would mean that the investors would have to agree to for bare $201,000.00. How is that possible??? I asked for his supervisor’s information and email address and said that I would be contacting her! Where do I go from here????

    My current mortgage is 349,999.00 at 5.5% interest only
    and second mortgage is $67,000.00 7.25% principle and interest.

    Please Help
  2. caldwell02

    caldwell02 LoanSafe Member

    As I read it based on a bi-weekly gross of $2,115.39 plus your $900 a month from the renter:

    YEARLY INCOME:
    Your gross income for you is $55,000.14
    Add $900 a month from rent: $10,800
    Total yearly gross : $65,800.14

    Monthly Gross: $5,483.35
    31% of that is: $1,699.84.

    So in figuring out what base mortgage you could afford, they'd have to subtract your Monthly HOA and that leaves: $1,452.87.

    Then they'd have to back down further to include taxes and insurance. But I doubt that your taxes and insurance total $1,263.87 a month, which is what they would have to total to make you only able to afford $189/mo.

    Unless I'm missing something here big time.
  3. Againsttheodds

    Againsttheodds LoanSafe Member

    They might not consider the $900 as stable income like your job.
  4. Still Trying

    Still Trying LoanSafe Member

    My gross monthly comes out to $5,130.78 and 31% of that is $1.590.54. And no my taxes and insurance is around $250 or so.

    I'm not sure what to do. Do I try and speak to the supervisor or is he right???


    As for the renters not being stable I have had them for the last 3 years and they have been included in my tax returns every year.
  5. caldwell02

    caldwell02 LoanSafe Member

    Okay so math isn't my subject. I just multiplied your gross by 26. Is there another way to do it?

    In any event, this $189. is NOT right as I see it. Who is your servicer?
  6. Still Trying

    Still Trying LoanSafe Member

    My servicer is bank of america.
  7. Marie T

    Marie T LoanSafe Member

    if you have had your roommate renters for 3 years and they are on your tax return you should be able to count it. There were some problems with people putting in for mods all of a sudden having renters when they were trying to get a mod but that should not apply in your case. Looks like you are dealing with an idiot at the lender as we all have. You might just have to get someone else to help you at B of A who knows what they are doing.
  8. Hopefull2009

    Hopefull2009 LoanSafe Member

    Are these numbers taken from what was actually submitted? It looks like you're missing a pay period in your total monthly income. You have listed bi-weekly $2115, but in your total monthly you're not including the 2nd monthly check.

    Could he have run the scenario based on that (missing the 2 weeks)?
  9. Still Trying

    Still Trying LoanSafe Member

    Nope, I gave him the totally gross of $5,130.78. I told him that Hamp is suppose to be based off of my gross not my net which he seemed to be surprised by. He then reran the numbers when I was on the phone and said I still would not qualify with that being my gross because because it would mean that the investors would have to agree to for bare $201,000.00. It just doesn't make any sense. I think that I got a complete moron. I guess I will try emailing and calling his supervisor that he gave me.
  10. Bert C

    Bert C LoanSafe Member

    Still, I would try and call back and speak to anyone but, that "idiot" you got that time. Seems the more you call and speak to a different person the more stories you get anyhow. Same thing with me and my lender (Chase).

    Bert
  11. davephx

    davephx LoanSafe Member

    Whoa...

    First of all if the BOA guy didn't even know HAMP is on your gross not net.. ah.. don't they train these people? If he is that bad I wouldn't trust anything he says.

    You say 1st mortgage is $350k
    Have to forebear $201,000
    And have only $250 in escrows.

    $5131 income x 31% = 1591 - 250= $1341 for PI.

    At 2% 40 years need $1293/month so you qualify for something less than 40 years depending on current maturity or slightly higher interst rates.

    Obviously you need to talk to someone who knows better than your guy. And he is the negoitaor. If you have to talk to him know that you are armed with data and numbers explain how the need for forebearance doen't make sense that you should have $1341 available for PI!

    Assuming pass NPV the income looks ideal for a HAMP mod.
  12. Hopefull2009

    Hopefull2009 LoanSafe Member

    Are you sure this is a negotitator, or just a cust service rep? Have you submitted a package yet? If not, I'm not sure how'd you'd be speaking to a negotiator at this stage? I'd keep calling back until you get someone who knows how to run your numbers correctly. That makes absolutely no sense - forebearing $201,000. With your numbers, roughly would probably be in the 2.5-2.75% range starting out. Why is he trying to find a payment at 2%? That would be the floor. Your income would support more than 2%. Keep calling back until you get someone who has some sense of what they are doing.
  13. Still Trying

    Still Trying LoanSafe Member

    Thanks for all the advice. I thought that I was going crazy. I didn't sleep at all last night completely stressed about my conversation with him. I've spent the last 10 months trying to get on the phone with a negotiator and when I finally get to speak to one he is a complete moron!!! And yes I'm sure that he was a negotiator. I emailed barbara.desoer@bankofamerica.com and Cindy called with his name. She said that my file was escalated to a senior negotiator and that he would help my out. So everyone beware of Sergio Salgado he doesn't know anything and he will try and talk you into a "Traditional modification" saying that he will help you out by giving you a 3.5 % interest rate and extending your loan to 40 years. I didn't even know what to say because I was still trying to figure out how he got $189.00 as 31% of my net income. Would this be consider predator leading??? Who do I report this too! I'm so upset because I've waited so long to get help. I'm writing an email to him, his supervior and Cindy and see if I can be assigned to someone else.
  14. davephx

    davephx LoanSafe Member

    Your doing the right thing.

    3.5% at 40 pay not be that much higher payment, especially if its fixed, not just low for the first 5 years than gradual rise under HAMP.

    But understand why you would be so taken for a loop with his silly math which makes no sense. BUT.. MAYBE.. they use net for inhouse mods ... but in your net you had already included the 1st mortgage payment of 1948 to add back to the net YOU calculated.
  15. darkdays

    darkdays LoanSafe Member

    As you read this string there is discussion of 26 pay checks and 24. it should be pointed out that with the lenders they just plug numbers in and we sometimes can't figure out where the errors are but that is one of them. The bi-weekly paycheck means 26 payments over 52 weeks but there is also the scenario where some get paid bi-monthly with 2 specific dates a month that they get paid and that only equals 24 pay checks. Lenders reps are not very sophisticated and don't always know how to figure out the income so it is always best to make sure they get your monthly gross total correct.
  16. planter

    planter LoanSafe Member

    Hello Still Trying:

    Sounds like you're a good candidate for a mod. Just happened to get an IDIOT to work on your case. That being said, the in-house mod that he said at 3.5% for 40 years sounds pretty good. At least your payment will drop about 400-500/month and you're showing a $100 surplus at the current payment.
    Best of luck!
  17. imlars

    imlars LoanSafe Member

    Most of the time when you call the lender you get customer service and they are mostly idiots. HAMP does use your gross income. $5485 per month gross income should make your modified payment around $1700 per month, and that would include your taxes, insurance and HOA fees. Is your loan a government backed loan or is this a private investor who is choosing to participate? Some of the private investors who are saying they are participating have been adding their own "conditions" into the mods. If your loan is a Fannie, Freddie, FHA or VA your investor is the government and you should not have any problems with getting the HAMP.
  18. litton nightmares

    litton nightmares LoanSafe Member

    There is a DEFINITE method to that MADNESS too. They are very well aware that they have people with NO AUTHORITY to commit to anything answering our calls, people who don't know much, and then the people ACTUALLY working on things, are refusing our phone calls...hmm sounds like a very effective way NOT TO HELP people qualified for help.
  19. davephx

    davephx LoanSafe Member

    Just to point out if anyone has FHA, FHA-HAMP is VERY different from regular HAMP which can be good or bad but usually harder to get and interest rate will be about 5% not 2% and only 30 yr term not 40.

    The killer is if back-end debt ratio is over 55% it kills the FHA-HAMP modification, unlike under regular HAMP all it means is you agree to credit counseling.

    VA is also a totally different situation
  20. imlars

    imlars LoanSafe Member

    The difference is not huge. The only differences I have seen with the FHA is as you said, the interest rate only goes down to 5% and yes they have been denying mods to borrowers who have 55% or higher back end DTI. I'm working on a VA now and will let everyone know what we get when we get it.

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