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treeandlife2 · Joined: 07 Jul 2009 Posts: 1 1.31 Dollars($)

My household income is $175 k and we pay 1st mortgage about $2200 and two 2nd home equity loans of $2,000. I called my mortgage bank and they said my income is too high for their imcome to 1st mortgage ratio. I have big credit balances over $100 K and my monthly expenses are in minus. How can I get loan modifications? Thanks a lot.

adonis · Posted: Tue Jul 07, 2009 8:33 pm Post subject:

Hi treeandlife,

It is your lender who would be able to give you a loan modification. You'll have to negotiate with him in order to convince him for a modification. You can also contact a loss mitigation expert who can contact your lender and help you in getting a loan modification.

elnoralittle · Posted: Wed Jul 08, 2009 5:29 am Post subject:

Normally the lender will send you out some forms to complete. (your current lender) They will ask you about your monthly expenses. They take in consideration everything, bills, electric, food, phone and daycare. Call your current servicer and ask for the loan modification department.
Tell them your situation, how you want to keep your home and are doing everything possible to do so, but you fear the months to come.
Can I ask who your servicer is?

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Can I be qualified for a loan modification?