Most of the families I come across doing short sales have gotten so tired by the modification process that they simply throw up their hands and say “Enough!!!”

The Government, in response to this problem, has created an online affordability calculator. This calculator will help you determine how much of a payment you can afford. CheckMyNPV.com is designed to assist homeowners in conducting a net present value (NPV) evaluation of their mortgage for the Home Affordable Modification Program (HAMP).

CheckMyNPV.com can be used by homeowners who have been denied a HAMP modification because of their NPV result. Homeowners can enter the NPV input values listed in the HAMP Non-Approval Notice received from their mortgage servicer, or substitute with estimated NPV input values, to compare the outcome provided by CheckMyNPV.com against that on the Non-Approval Notice.

CheckMyNPV.com provides only an estimate of a mortgage servicer’s NPV evaluation. While the NPV formula used on CheckMyNPV.com is required to be the same as that of your mortgage servicer’s, differences in the data that you and the lender input and other lender-related information may result in different results. After using CheckMyNPV.com save a copy of the evaluation and share it with your mortgage servicer to discuss options available to you.

You also may use this calculator prior to contacting your lender.