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I lost my job but have found a new one
New York foreclosure
This is an actual comment from a client:
"I lost my employment, but I just landed a terrific job that will allow me to make ends meet and then some, but We are so far behind I can't catch up"
The perfect scenario of a hardship is this one. Here is an example of a temporary hardship it has now been corrected. In this case it would be easy to get them approved or workout because they can clearly now afford the mortgage payment.the only issue is to get them a workout where the contribution figure would be something that could afford. The contribution figure is the amount the mortgage company will require to bring the loan current. Typically this is 25 to 30% of the delinquency and could go higher depending on the circumstances of the loan.
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