If you are having trouble getting a modification may I suggest contacting NACA (www.naca.com) to see if they can help in anyway. I will say DO NOT work with any organization that claims they will help you for a fee. Their are exceptions. Example: I have helped some people and AFTER the mod is complete I will charge a couple of hundred $$ for my time (No I am not offering to help people in general. I have plenty of friends and family I am helping right now).

If there is a desire I can put together a simple spreadsheet that will better tell you if you can be qualified for the HAMP program. If there is a desire send me an email to sodapopevans@gmail.com

A couple of things are going for you–your credit and the fact that you have had your part time job for a couple of years. That makes it easier for underwriters to count your income. Had you been working a full time job at the same time as your part time job? That will help once you find a new job (preferably in a field you already have plenty of experience in. Your fiance is okay with limited credit–it’s bad credit that gets you. A good loan officer can help her build a credit report using utility bills, rent, college tuition payment plans, etc. And FHA has no minimum requirement for the amount of time she will have had to be on her new job to count the income. I suggest that in addition to looking for work you develop a pattern of saving (you’ll need a 3.5% down payment). This will also show that you are financial responsible even though you are just starting out. You should also inquire about other community programs that may assist you with down payment options. If you live in a rural area, USDA has loans that require no down payment as well. And, in addition to the tax credits for first timers, check into mortgage credit certificates in your state.

The bad news is that you will need to get that job before qualifying. Or maybe you can get someone to do a lease option and sell you the house now. As long as you nmake your rent payments, once you get your jobs you shouold be able to qualify for a mortgage and close the deal.

Finally, go to http://www.hud.gov/offices/hsg/sfh/hoc/hsghocs.cfm and find out what help is available in your state at a HUD home ownership center. And look into Mortgage Credit Certificates (which allow you to buy more home here: http://www.mortgagecreditproblems.com/blog/mortgage-credit-certificate-programs-free-money-for-first-time-home-buyers/

each state offers a different program, so you will have to check with your individual state for lenders and exact benefit and eligibility.

Good luck!