Posted on: 04th May, 2010 03:17 pm
I will be trying to qualify for a loan mod utilizing the hamp program. I am a wage earner and understand that the payment including insurance and property tax is supposed to be 31% of verifiable income. How far back does the bank go back to verify income???
Hi newsletter10lbenny,
While you apply for a loan modification, the lender will send you some documents to fill out. The lender will come to know about your financial situation from the information that you give in those documents. They may contact your employer and verify the information.
Thanks
While you apply for a loan modification, the lender will send you some documents to fill out. The lender will come to know about your financial situation from the information that you give in those documents. They may contact your employer and verify the information.
Thanks