HAMP Calculator

Hi davidahen,

As far as I know, having unsecured credit card debts won't be an issue when you apply for a loan modification. The fact remains that you will have to convince the lender about your financial hardship in order to qualify for a loan modification.

Thanks

I receive 1,290 month from Soc. Sec. This is my only income. My loan modification has been based on a "grossed up" income of $1,556/month. This was never disclosed to me and I have been basing the payment on the $1,290. Can the lender do this? It now makes it nearly impossible for me to afford groceries with the high payment.

Hi crazygrammy,

As far as I know, the lender will consider the gross income. I don't think the lender is wrong.

Hey Crazygrammy,


I would suggest you to please get some contribution which helps you to qualify under loan modification guideline. Please make sue that the sum of money is deposited into your bank account for two months. N i am sure that you will qualify. Please do not show the deficit to Wells Fargo. Rest other bank you go deficit upto 150-200.

Thanks!

My income is $12,637 monthly. I owe $614,000 and I am delinquent $l03,000. My additional bills $515 (credit cards). Will I be able to
get a HAMP modification?

Hi Lois,

You will have to contact your lender and apply for HAMP. It will be your lender's discretion whether or not he will consider your request and provide you with HAMP.