My client was approached by her lender to modify her option arm into a fixed rate. She hass yet to send paperwork. The question I have is that her Triple net lease shows $4020.00 rent. Has anyone had a problem with the lender questioning a PITI payment in loan mod? Or turning down the mod because she is actually positive cash flow on this one property?
‘Haven’t heard of it particularly, but if I was the under writer I’d probably turn down the request if I had the information. Although it would depend upon her other income and expenses, and if they fall within the approval parameters she should be OK.