Lately I feel I might need to keep the home, as tight as I am I can not demonstrate in paper I can not afford the payments.
My home payment is under 32% of my income and that is all they care about.
Goverment plans also are looking for that magical number.
After the bank approved a temporary loan mod, I am at 31%
If they continue approving extensions to the loan mod, I can afford based on that percentage.
Problem is that if they stop approving extensions to the loan mod and I stop being able to "afford" the house, I would have made all these "modified" payments in vane. Money in the garbage and unavoidable foreclosure.
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