Posted on: 23rd Apr, 2009 08:22 am
I tried to modify my loan with my bank, but they said I was not over he 31% dept to mortgage ration needed for assistance. I don't understand how they could refuse us when we are teachers and our gross net is not exatly what it says to be on our paychecks, as teachers we wor 10 months so after that gross net, holdback is taking out of every months check to cover the 2 months we are out of school.
We have made our payments on time for the 2 years we have been in the house but now witht he new child due in July, we are going to be living from check to check trying to figure out how to take on the new child care bill and pay our mortgage and other bills. Is there any other help out there for me and my family?
We have made our payments on time for the 2 years we have been in the house but now witht he new child due in July, we are going to be living from check to check trying to figure out how to take on the new child care bill and pay our mortgage and other bills. Is there any other help out there for me and my family?
Wait till the new bay is born, you probably wil have a better case to prove for loan modification.
Refinancing will be easy, if you have equity in the house. Lenders will be willign work on gettign the better rate.
But if you do nto have equity, then you need to show some hardship or some major change in your life, which can impact your ability to pay.
New born baby could be a good eample, which can result in more expences.
But if you do nto have equity, then you need to show some hardship or some major change in your life, which can impact your ability to pay.
New born baby could be a good eample, which can result in more expences.