Posted on: 16th Mar, 2010 07:08 pm
If a family member is giving you $700 per month to help pay your mortgage indefinately! And our income is not enough probably to get a modification or so i have been told can i use that $700 to boost our income so as to qualify with enough income to get a modification.
Hi fbjclark,
The lender will consider your income while giving you a loan modification. I don't think that $700 will be considered as your income as it is given to you by someone else.
The lender will consider your income while giving you a loan modification. I don't think that $700 will be considered as your income as it is given to you by someone else.
Yes,
700$ will not be considered as you income. It will consider as a gift money & its could not help you to boost your monthly or annual income numbers.
Thanks & Regards.
gunz.ijjistaff
:lol: :lol: :lol:
700$ will not be considered as you income. It will consider as a gift money & its could not help you to boost your monthly or annual income numbers.
Thanks & Regards.
gunz.ijjistaff
:lol: :lol: :lol:
