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Answers (2)
- Linda Rozales, "Lrozales"
- Contributions:245
A Homepath mortgage is only for new purchases of property owned by Fannie Mae or Homepath.
Have you heard back from Bank of America regarding your modification? If I understand it right, your mortgage payment is at 27% of your income. Based on the HAMP program, your mortgage must be above 31% to qualify for a loan modification. With your debt to income ratio, it looks like that you are still within the affordability level. What I would advise you to do is to call the nearest HUD counseling center within your county. Click on this link and it will take you directly to the HUD website that will give you a list of counselors who can help you. They will be able to help you make the right decision. They are here for you and the service is free.
Have you heard back from Bank of America regarding your modification? If I understand it right, your mortgage payment is at 27% of your income. Based on the HAMP program, your mortgage must be above 31% to qualify for a loan modification. With your debt to income ratio, it looks like that you are still within the affordability level. What I would advise you to do is to call the nearest HUD counseling center within your county. Click on this link and it will take you directly to the HUD website that will give you a list of counselors who can help you. They will be able to help you make the right decision. They are here for you and the service is free.
- Mya Berlyant, "MyaBerlyant"
- Contributions:260
In my experience you would have to wait just a little longer for your credit to get better.
Congrats on getting your Loan Mod with BAC! You're on in a million who actually got it accomplished. I've been fighting with them for a year!
Congrats on getting your Loan Mod with BAC! You're on in a million who actually got it accomplished. I've been fighting with them for a year!
home modification
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