can we be approved for a loan modification second time?

Author Message
Icon Mini Profile sallyquiocho





Joined: 09 Aug 2009

Posts: 1

1.32 Dollars($)
Post Posted: Sun Aug 09, 2009 3:29 pm    Post subject: can we be approved for a loan modification second time?
Like
Dislike

our loan was modified last year in october. our payment was reduced to $3,650 from $4,100. the new payment is 41% percent of our monthly gross income. under president obama guidelines, payment should only be 31% of of monthly gross income. can we asked for a second modification based on the new guidelines?
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005

Posts: 12179
Location: ALASKA
1313.94 Dollars($)
Post Posted: Sun Aug 09, 2009 7:56 pm    Post subject:
Like
Dislike

Hi sally,

You can definitely apply for a loan modification again with your lender. It would be your lender's discretion whether or not he would agree to your request. He would judge your financial situation and decide whether he would grant you another loan modification.

_________________
Procrastination is the enemy of your financial success
emanuel

Guest







Post Posted: Thu Jul 18, 2013 10:40 am    Post subject: second time modification with cross income of 2800 dollars
Like
Dislike

can do loan modification for second time retire man 1800 amonth income and other income of 1100 amonth totall income amonth of 2900 totall
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005

Posts: 12179
Location: ALASKA
1313.94 Dollars($)
Post Posted: Thu Jul 18, 2013 11:38 pm    Post subject:
Like
Dislike

Hi emanuel,

It will be the lender's discretion as to whether or not he will consider your request for loan modification. If he is satisfied by your income, then you can expect positive results.

_________________
Procrastination is the enemy of your financial success
Ask question
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message Body
All times are GMT - 7 Hours
Page 1 of 1

 
Delete this topic Move this topic Lock this topic Split this topic 

Page loaded in 0.774 seconds.