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 diamondh76
Joined: 29 Oct 2009
Posts: 2
1.46 Dollars($)
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 Posted: Thu Oct 29, 2009 12:56 pm Post subject: Loan Modification |
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| Hello I am wondering if there is certain amount of income one is making in order to qualify for a loan modification |
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smithsussane
Joined: 18 Sep 2008
Posts: 3738
Location: Alaska
561.45 Dollars($)
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| Posted: Thu Oct 29, 2009 8:15 pm Post subject: |
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Hi diamondh!
Welcome to forums!
I don't think there's a certain amount of income which one should be making for qualifying for loan modification. In order to get a loan modification, you will have to prove it to the lender that you're capable of paying the dues once your loan is modified. If you cannot, then the lender would not agree to a loan modification.
Feel free to ask if you've further queries.
Sussane |
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christinehynes
Joined: 05 Sep 2009
Posts: 27
Location: Orange County, California
6.09 Dollars($)
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| Posted: Wed Nov 04, 2009 2:45 pm Post subject: |
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Generally, there arent specific income requirements for loan modifications, its mostly dependant on the program you choose. Most banks have been doing loan mods through the Home Affordable Modification Program (HAMP) which aims to lower your debt to income ratio to 31%. However if your debt to income is too high, say around 55%, the bank may deny your modification. For more information you can visit our blog which has details on loan mods and specific programs.
[Link deleted as per forum rules. Thanks.]
_________________
Loan Modification Specialists
www.CallALMS.com
877-700-2567 |
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getconrolofyourbills
Joined: 04 Nov 2009
Posts: 7
Location: USA
2.56 Dollars($)
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| Posted: Fri Nov 06, 2009 11:04 am Post subject: |
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There is not a specific ratio, each case is different. If you would like a free screening and free consult with an attorney about this matter.
Thanks,
Frank Aaron
Processing Agent
PSG Attorneys
[Promotional text deleted as per forum rules. Thanks.] |
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