Should I apply for a HAMP loan?

Credit and mortgage advice Forums Home Mortgage Should I apply for a HAMP loan?

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      Anonymous
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      6 months ago I took a 20% paycut. *I’ve made cutbacks where I could and fear I won’t be able to make my full mortgage payments for much longer as I’ve depleted my savings. *My main concern with applying for the HAMP loan is will my credit score drop if I apply for the loan modification and am denied. *My FICO score is 806. *My mortgage is a FHA loan with the original amount of 180K. *Currently I owe $163K and have never missed a payment. *My home’s current value is $129K. *Does anyone know if the possible adjusted payment of 31% based on the last couple weeks of wages or the last year?



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