If you are unemployed but your spouse is employed we may be able to use your household income to support the mortgage modification. We are simply trying to provide solid back up to your financial situation and budget that supports the lowering of your mortgage payment, rate or change in mortgage terms.
HUD responds to this [...]
Posts Tagged ‘late mortgage’
Can I qualify for a loan modification if I am unemployed?
Can a lender include late charges in the Loan Modification?
According to HUD the Mortgagee Letter 2008-21 states that accrued late charges should be waived by the mortgagee at the time of the Loan Modification.
Make sure when you have a mortgage modification approved you are not being charged late fees. Late fees, late payments and more will pile up when you are close to foreclosure. The only [...]
Denied for Refinance
Millions of homeowners are being denied for a refinance due to recent or current late mortgage payments. Late mortgage payments within a 12 month period are a major red flag for lenders and with the current credit crunch it is nearly impossible to refinance with late mortgage payments. What can you do if your mortgage is [...]