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what is the basic formula to calculate a loan modification

Profile picture for christakarin1
I realize all lenders may vary, but there should be a basic calculation such as total TDI of 85%.  Mine right now is 47% debt and 53% mortgage debt.
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January 26 2009 - Union City
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Profile picture for DebtFreeDave
Here is a link to loan modification information.  You can do it yourself for free.
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January 29 2009
Profile picture for oldskoolballr

P=C(1+r/n)^nt
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January 27 2009
Profile picture for Craig Baranowski

This is an excellent question and one that causes many people to wonder where they should be financially after a loan modification. How do you calculate what your lender will agree to for a loan modification before you speak with them? What loan payment amount should you target when approaching your lender for a loan modification?

This is really a question of solvency and insolvency. When you can no longer meet your financial obligations with your lender as debts become due, you are insolvent. The goal is to become solvent. 

Read the full post here

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January 27 2009
Profile picture for MN Mortgage Mom
It is entirely up to your lender.  They dictate what tolerances they will accept in "qualifying" you for a modification.
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January 26 2009
 

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