Kelly,
Most lenders will tell you that you can't do a loan mod if you;re not behind on your payments. This is not the case and they are just stalling you and will give you the run around. If they think you can make your current payment they will not want to do the loan mod. The federal government is putting pressure on lenders to help homeowners do the loan mods and they require that you have at least one hardship from a list of about 20 and it sounds to me like you may have more than one. Yes you could qualify for a loan mod and substantially lower your monthly payment and possibly get a lower fixed rate without paying high attorney fees. Contact me and let me show you your options.

Ingrid Smith
Loan Modifications
888-242-1444x134

Kelly,
Why not consider a short sale and settle with an apartment for a while until you can save some money for another house that you can afford? Securing your income is probably the most important at this time because you will not know what would happen; at least you have some cash in the bank. Many homeowners would rather rent right now if their income is just going to a house payment that they can't afford. Short sale is a very good option if you truly cannot afford to keep the house.

Charita King
562-276-8681

Dear Kelly,

I suggest you contact my rep at AALMG (All-American Loss Mitigation Group). They have worked with many of my clients and gotten them GREAT results.

http://www.aalmg.com/contact-us.php

Just fill out the form and a representative will get back to you ASAP!

Good Luck!

I got a loan mod with countrywide at dealing with them for 5 months. They went over my financials 4 times and it wasn't until I contacted the office of the president that I finally got someone to review my file and consider the modification. They can arrange terms that will be affordable for you regardless of how much money you make. They can offer you a 10 year fixed interest only or a 30 year fixed interest only. You just need to prepare a well written hardship letter. I found one at the site below.......good luck

It is not necessarily income but dti.... You do have to be earning money to get a loan modification.

shoot me an e-mail thru my website and I will forward loan modification documents to help support your case to the lender. It's time consuming, but you can do the loan mod yourself.

THomas,
Thanks for the fast reply! Do you have any idea about my question regaarding the income for the loan mod? Thanks

My suggestion is if you can not pay the whole payment, you should discuss it with an attorney. I f you do not make the payment you should take what money you have and put it aside to help with future payments if you are able to get the loan modified. Most banks become more agreeable after you are behind 2-3 months.

Thomas Santore
Associate Broker
Coldwell Banker
845-590-5488

Visit my web sites at http://realestatesallhere.com and http://icansellyourland1.com