[orangedotz]

ratio? How honest do I need to be?Should I show my "worst case scenario" ?Or should I slim it down to show that we can afford the payment?We are 2 months delinquent.

[dpcarras2007]

You should be very honest. And you should try to pay what you can. Here is what you will need2 of your most recent paystubsA letter explaining why you can't pay.Proof of homeowners insurance if you don't escrow.List of current monthly debts. Typically the company will try to get you to 55% dti. But if they can't do it without it being profitable for the company the will let you go into foreclosure. I wouldn't tell them if you or your spouse are out of work though, because they don't have anyway to tell when you or your spouse will return a modification is pointless.

[iegmike]

Loan Mods are based on documentable income. If the bank feels you will just end up in default anyway they will deny the mod and promote sale.

[admin]

whether documented or not 80% of subprime mods end up back in default