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cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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For HAMP Modification - Does Lender consider spouse income

Customer Question

For HAMP Modification - Does Lender consider spouse income for loan modification if she is not in the loan.

2) We are Two brother on a Home loan, One br gets SSDI Income, We are trying to get hamp modification . Does his income consider for loan modification by the Lender
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 3 years ago.

cortrightlaw : If you are both on title and both live in the home they will consider both incomes. If just one of you is on title and the loan then they would just consider the one income, that is unless you need the second income to prove that you can afford the home. In that case you would list the second income or contribution as rent received.
Customer :

Thank you but I didnt get the answer for the other part of the question about SSDIQ

cortrightlaw : If you are asking if the ssdi income will be considered yes it will as will give an accurate picture of the money available to the household.