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?
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
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
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.
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.