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carly4420 · Joined: 02 Oct 2009 Posts: 2 1.92 Dollars($)

I am a step away from foreclosure--haven't missed a payment yet but will soon. I've contact USB and they told me I didn't qualify for loan modification. I have the same numbers (income/mortgage) as the example on the hamp calculator but USB offered a pre-sale or deed in lieu. I don't get it!

Also, was told by someone you need to miss a payment to qualify for modification and told my another not cuz your credit takes an immediate hit. I am trying hard to keep my credit good.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Most of the agnets when you call the loan modification department will say if you not behind on the payment then you may not even be considered for modification

Thats correct in a way. The bansk have built these software programs to evavlaute a persons eligibility for loan modfication, and one of main criteris is if they are already behind on thier payment

But if they offered you a short sale or deed inlieu, I woudl say it is better, if you no longer wants to keep the property

Those two optiosn are better than foreclosure

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What is the criteria for hamp qualification