Video-Sneak Peek At Chapter 3 How Important is the Hardship Letter
In Chapter 3 of my E-Book “Breaking the Modification Code” I talk about the important of the Hardship Letter. The servicers are actually have coded reasons for government monitoring purposes thru President Obama’s Home Affordable Modification Program (HAMP). Many homeowners will see monthly payment relief if the servicers truly modify the existing mortgage to the goal 31% gross of monthly income. It would be wise to order a PRO REPORT to fax along side of your Hardship package. Inside the PRO report it reviews net income as well as gross income and highlights the home owners actual disposable income. A $500 a month savings thru a HAMP modification is awesome but if you go from -$2000 a month to -$1500 a month monthly cash flow. the outcome could eventually be the same.
