Will being on unemployment affect getting a mortgage loan modification?

Our house is going in to foreclosure and we are trying to get a loan modification. My husband found out he is likely to lose his job next month. Will this affect getting a loan modification?Will being on unemployment affect getting a mortgage loan modification?
It could but if you have prospects of future employment it may not affect you.Will being on unemployment affect getting a mortgage loan modification?
The answer is yes it may affect getting a loan modification. The lender is going to look at your current situation and make a decision based on your ability to pay for the loan after it is modified. If they feel like you won't be able to pay new loan amount they will deny you.





If I were you i would act now, while he is still employed.





I found a free report that explains Loan modification and what the lender will be looking for to get you qualified.





Time is of the essence in your situation so get to work on it now.





One word of advice: Do not pay anyone an upfront fee to see ';if you qualify'; for a loan modification. If you are going to hire someone only pay them after they can say you ';will'; qualify for loan modification.








www.FreeLoanModificationReport.com
I think you have to contact some mortgage lenders in your area. They will provide the detailed information. Loan modification should be able to assist property owners in preventing foreclosure as they will help the property owners meet the lenders and make some arrangements.





The below site may The website below may provide some insight for you.


http://www.refinancing101.net/loan-modification.html
Well that does change his income to debt ratio, the big question is even if you get refi'd will you be able to pay the mortgage on this lower income or are you just delaying the inevitable? Since he only may lose his job go for it at the very end if he has been laid off you will have to notify them of this, if he hasn't then no problems
if you feel you can actually afford with severance and unemployment along with any other income then my advice is GET IT NOW and don't say a word. I work for one of the largets and remaining mortgage lenders in the US I have worked for Brokers and one of the largest banks in the entire world. PLEASE PLEASE PLEASE contact me directly here and I willa dvise you of exactly what to do and what happens and why these 2 and 3 percent rates you are hearing about don't really work the way you think they do. i am not going to ask you in any way to do business with me because i can't. Please Please contact me so i can tell you how and what to do. I can not ask for your business because are not a customer of mine. I will not refer you to anyone directly. if you need help i will be gald to advise. if not then good luck!
If he is on unemployment, the odds are that you won't be able to afford the payments. So yes it would affect it.
Hurry and get the refi while he is still employed. If he does not have a job then no new mortgage