How Do They Calculate Gross Income for Retired Borrowers on a Loan Modification?

How do they figure gross income for a loan modification for retired people?

Mortgage Loan Modification Answer:

For loan modification purposes, gross income for retired borrowers will be the pre-tax total of all sources of income such as: Social Security Income, Dividend Income, Investment Income, and all other sources of income.

To see more loan modification questions and answers, please visit the following pages, and scroll towards the bottom:

HAMP Loan Modification

Traditional Loan Modification

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