How do we determine if your loan is modifiable?
The goals of most lenders is to lower a delinquent borrower's payment amount to an affordable level and to allow the lender to avoid a costly foreclosure. Your income will be used to determine your housing expense to income ratio and an initial target ratio of 38% will be used to determine an affordable payment. If the payment amount associated with the initial target ratio does not provide a material change in the payment amount, we will negotiate a lower housing ratio and payment.
