Fannie Mae
Loan modification - Fannie Mae

I am upset that my home loan modification was denied. I only take home about $1350 every two weeks. $904 goes to my mortgage (you) and $820 goes to child support, which is NOT an optional expense. I was told my home loan does not exceed 31% of my gross income. Well, it sure as hell exceeds 31% of my income after I'm done paying my child support. If your formula is based on gross income alone, why did I have to fill out a detailed account of my monthly expenses, which were clearly dismissed? Would it make a difference if I had to care for an elderly parent? It sure doesn't sound like it.

Company: Fannie Mae
Country: USA

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