Profile picture for bcockrum

A have a 2nd home mortgage (investment). Will I qualify for a home mod. on my primary mortgage?

  • April 04 2009 - West Bloomfield
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (2)

You would add the rental income to your own income and the mortgage to your expenses. After those numbers cancel themselves out, then you just have to qualify within the guidelines. If the investment property is losing money or a wash(that is, breaking even) then most likely you can qualify same as someone without an investment. Loan Modification is not for everyone however. Talk to your lender.
  • April 17 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Is the investment property rented and paying for itself?

Are you able to make payments for your primary residence?

You need to have a reason so the bank would grant a modification.

You could qualify but anyone would need more info. (Not a solicitation)

  • April 17 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.