by J Anthony Is
Question by ozzydc1: If I quit my job, would I qualify for Obama’s Making Home Affordable mortgage refinancing program?
If I quit my job, would I be able to qualify for the program since I would have less than 31% of my monthly income and be unable to pay for my monthly mortgage paymentgs? The program is unclear on what a hardship is, and if you have to be laid off or fired. What prevents people from just quitting their job to qualify for the program, then get another one once they are accepted and put on the plan?
Note – This is what I’m trying to confirm if its true or not “Plus, if you quit your job, your lender isn’t going to modify your loan because your hardship is your own fault”
Answer by spalmer
No you shouldn’t quit because no one is guaranteed to qualify for this program. It is completely up to your lender if they want to modify your loan, there is no law that they must modify your loan. Plus, if you quit your job, your lender isn’t going to modify your loan because your hardship is your own fault.
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