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I am trying to get a loan modification on my FHA mortgage. At the suggestion of my mortgage broker my mother co-signed on the loan with me. She has never lived in the residence and does not contribute to the financials. Will her income be taken into account when reviewing my mortgage for modification approval?

by tccmvilla from Holland, Michigan. Jan 12th 2010 Reply


Chris Burns (chrisburns)
#34 ranked lender in Florida - 9 contributions

If your mother does not reside in the home with you then most likely her income will not be considered as household income for purposes of the loan modification. It should be explained in your hardship letter that she does not contribute to your monthly household income.

Jan 13th 2010
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