| Loss Mitigation General Chat loss mitigation |
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08-18-2010, 12:22 PM
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Foreclosure: What income determines what type of
loan modification program you qualify for? My relative is in foreclosure. He's been in contact with the lender and is trying to work out a modification. They ask about income, rental property, all expenses, etc, then determine what type of program you qualify for. What determines which plan? They have said that he may not qualify for any based on his income. Is there a certain calculator they use or a certain percentage?
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