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Company Loan Type APR Est. Pmt.

Can get my loan modified

My request for loan modification rejected my situation is
Gross Monthly income 6,990
From Rent 1,600
Total 8, 590
Deductions and expenses
Taxes 1,700
Mortgage resident 2,590
Mortgage Renal 1,612
Daughter’s Ed Loan 364
Medical Bills 150
Car Loan 405
Utilities/Phone/TV 523
Insurance Life/car 214
Food/Gas/Other 1,000
Total 8,558
is there any chance for us to get the loan modified

sunnyca2009's picture
sunnyca2009 | Joined: August 4, 2009 07:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

I think the reason for rejection is due to the fact that the lender thinks even after modification you may not be able to pay the monthly payment

Probably they took your data and put in a computerized program and it came back afetr its analysis that you do not qualify

Now of days lot of decision are done y the compters first before a real person looks at it

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

greggwyburn's picture
greggwyburn | Joined: September 13, 2009 12:23 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

what is the purpose of loan modifiaction? you have not stated it.

Right now you are able to save $32/ month. your mortgage payment is 49% of total earnings. It is very high

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

sunnyca2009's picture
sunnyca2009 | Joined: August 4, 2009 07:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Greg

Anjammoni is asking for loan modification due to his current situation

Most of the poeple who are looking for modification are due to thier current financial situation or due to reset in interest rate on thier loan

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

kim090807's picture
kim090807 | Joined: September 20, 2009 11:08 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I think loan modification is possible but its not advisibal in your case.
I think you have to talk to lender regarding this.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

marklavender1's picture
marklavender1 | Joined: September 13, 2009 01:45 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

loan modification is very much pssible for you. no doubt about it

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

sunnyca2009's picture
sunnyca2009 | Joined: August 4, 2009 07:15 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Kim why it is not advisable in this case

Please provide soem reasons so our poster can make informed decision

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

anojoomi's picture
anojoomi | Joined: September 25, 2009 08:30 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Dear friends,

Thanks for your reply and sorry, for late post, I am not checking the computer so often.
The lender has stated the income exeeds the maximum for their lending program. though there is no explation.
Anyway most of you said I am eligible for modification. Do you know any reliable company to work with :

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi anojoomi!

Welcome to forums!

You can contact your current lender and apply for a loan modification. It is your present lender who would be able to help you with a modification. In case, if you are unable to negotiate with your lender, then you can contact a lawyer and take his help in negotiating with the lender.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i am disappointed that i have to say that some of those who are our greatest encouragers appear to be some who are our least knowledgeable in the field.

for someone to come out and aver: [/b]"loan modification is very much pssible(sic) for you. no doubt about it.[b:c9ce387282] is irresponsible in my view.

especially when such a statement is not supported by any reasoning, this merely gives someone false hope.[/b:c9ce387282]

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

when trying to use bold type,
i find it to be too much hype.
would that i could do it right
e'en as i try with all my might.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 02:13 | Post subject:

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