Real Estate Home Mortgages/Credit union mortgage


Do credit unions have a different set of rules that are followed pertaining to the Making Home Affordable Program? I recently had my mortgage modified but in no way did the payment match the 31% payment to gross income on a modified mortgage.

The answer is no, all mortgage servicers that are participating in the Making Home Affordable Program are using the same guidelines, or "rules", to qualify borrowers under the program.  However, not all mortgage servicers are required to participate in the program.  It is very possible that your credit union agreed to modify your loan but is not a participant of the Making Home Affordable Program.  Loan modification has been an option to servicers just as long as the foreclosure option. I do hope this answers your question and that you are in fact benefiting from your recently modified loan.  
About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

Real Estate Home Mortgages

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Ryan Hasselmeier


Former Mortgage and Insurance Broker in Texas. Originated loans for use as a Primary Residence, Second Home, Investment Property or even Mixed Use. Have brokered loans for Manufactured Homes and even Rural Housing.


Have been actively involved in the mortgage loan origination industry since 2001 and real estate investment since 1990.

Current Chairman of the American Signing Agents Association Inc, a non-profit professional business association of Notary Signing Agents who specialize in real estate settlement transactions.

Bachelors of Business Administration in Accounting and Management Information Systems from Sam Houston State University in Huntsville Texas.

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