If you have money in a savings account, is it possible the lender will not modify your loan even though you are 50 percent in the hole with your purchase?
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You are correct in your thinking that they will want to know what you have in your accounts.
They are looking for ability to pay however if you are having trouble making the payments and can show them it's call imminent default and you just need to show them that. Then again it's going to depend on the type of loan product that you have and what the lender can do for you.
is the savings account and the mortgage at the same bank?
maybe the question should be, notwithstanding the balance in your savings account, does it make sense to apply for a loan modification to keep a house that is worth just 50% of the debt?
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Yes the savings account is the same as the lender.......
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As long as their any chance that you will pay on the orginal debt, like saving money in your savings, then yes, they will turn you down. Maybe it time to slowly " spend "the savings. And in a few months when they look at your accts and realized that you have "spent" your money maybe they will ok the mod for you.Good luck
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