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fbjclark · Joined: 22 Sep 2009 Posts: 4 2.37 Dollars($)

If a family member is giving you $700 per month to help pay your mortgage indefinately! And our income is not enough probably to get a modification or so i have been told can i use that $700 to boost our income so as to qualify with enough income to get a modification.

adonis · Posted: Tue Mar 16, 2010 9:27 pm Post subject:

Hi fbjclark,

The lender will consider your income while giving you a loan modification. I don't think that $700 will be considered as your income as it is given to you by someone else.

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Yes,

700$ will not be considered as you income. It will consider as a gift money & its could not help you to boost your monthly or annual income numbers.

Thanks & Regards.
gunz.ijjistaff
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