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Need help

Posted on: 02nd Nov, 2008 01:28 pm
In loss mitigations what is the percent that they want you to have after they figure your income from your debt? Really is there a percent of your income that you need to have left.
Oh yeah and one more question if you have a loan and there is a balance due but your statement says account closed_end we have not received a statement or another paperwork for over a year. What does this mean?
Hi reneaoltman_ibc!

Welcome to forums!

I do not think there will be a percent of income that you will need to have left. However, criteria may vary from lender to lender. To know more about loss mitigation, take a look at the given link:
http://www.mortgagefit.com/loss-mitigation.html

As far as your second question is concerned, I think you should immediately contact the lender and check with them.

Feel free to ask if you have further queries.

Sussane
Posted on: 02nd Nov, 2008 08:39 pm
Hi reneaoltman_ibc!

I think the percentage varies from one lender to another. It will be better if you can contact your lender. Regarding your second question, I agree with Sussane that you should immediately contact the lender and check with them.

Thanks.
Posted on: 03rd Nov, 2008 02:27 am
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