Pamela T asked:


Is it easier to modify a loan if you don’t fit the underwriting guidelines for an FHA refinance?
Not in foreclosure; just have a high-interest rate ARM and too high of a DTI.
Thanks for your input.

Dale

BDZ asked:


I have an ARM. I cannot refinance. How can I go about negotiating a loan modification with my lender. I don’t want to be just a name and account number. I can meet the existing payments and to date have not fallen behind. If they raise the interest rate any further then that will be the tipping point. Are there organizations out there to help me such as HUD, etc. Do I already have to be in default before they’ll consider a loan modification?

Jo

John D asked:


When a company writes of part of a debt, it is then recorded as income to the IRS and you pay taxes on it. Does the loan modifcation work the same way?

Ella