Upside Down Mortgage

Mortgage Modification Qualifications

Question: Mortgage Modification Help!?

Based on my current gross monthly income I meet all the qualifications for the modification. I am the only borrower on the mortgage. However, since I closed on my note I have gotten married. My wife does have a job and even with both of our incomes we struggle b/c of other debt. I'm afraid that if they require her income information we will not qualify for the modification. She is absolutely NOT on the mortgage. Her income & credit were NOT used to get this mortgage nor did she sign any paperwork at the closing. Does anyone know if they will require her info when I call to do this????
I should clarify here. I am not getting a NEW mortgage. I am trying to get it modified based on the fact that I pay more than 31% of my gross monthly income to my mortgage. I have never ever been late and have no plans to be late with my payments. And you are qualified for the modificiation even if you pay and are not behind in pyts.

Answer: She is part of the household income and will have to be on a new mortgage if you are in a community property state. Excluding her would be fraud.

You include all of your debts on the work out, hers as well.

CDPE - Charfen's Blog: Short Sale Qualifications

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