I WANT MY NPV – AND MY MOD TOO, FOR THAT MATTER!
THE MYSTERY OF THE NPV FAILED HAMP HOME AFFORDABLE MODIFICATION PROGRAM
BY ANNA CUEVAS; THE LOAN MOD GURU
THE MOTTO OF THIS POST: As long as people will accept crap, it will be financially profitable to dispense it.
Dick Cavett (1936 – )
Many people wondering what is NPV Net Present Value, what does it have to do with me and my modification. What is the mystery of the NPV – they are supposed to tell you in layman’s terms why you were denied. But this is what most get – DENIED – FAILED NPV.
So now what what is your next move? Should I start packing? Well I say NO don’t give up just yet…. I see mistakes in line items almost on a daily basis. It is important that you do two things call and keep calling until you can get line by line numbers verified – That means income they used, expenses they used, not as a lump sum but line by line, BPO Broker Price Opinion value used- ask for it all, this is YOUR HOME at stake, do not lose it to a mistake. Reasons you were declined, in detail. Then also put it in writing and fax and mail and quote the guidelines that I have on my other post. VERIFY, VERIFY, VERIFY – FIGHT FIGHT FIGHT!
Here are the mysterious factors that used to calculate the ALMIGHTY dollar profit comparison for investors for the HAMP Home Affordable Modification Program’s infamous NPV TEST, live and uncensored. Include these questions in your call, fax, and letter! Be sure to CC Treasury Department and contact Fannie Mae and Freddie Mac (if they are your investor), if you find that your servicer is NOT following the guidelines.
Available NPV Inputs
a. Unpaid balance on the original loan as of [Data Collection Date]
b. Interest rate before modification as of [Data Collection Date].
c. Months delinquent as of [Data Collection Date]
d. Next ARM reset date (if applicable)
e. Next ARM reset rate (if applicable)
f. Principal and interest payment before modification
g. Monthly insurance payment
h. Monthly real estate taxes
i. Monthly HOA fees (if applicable)
j. Monthly gross income
k. Borrower’s Total Monthly Obligations
l. Borrower FICO
m. Co-borrower FICO (if applicable)
n. Zip Code
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