Calculate Current Payment
First step is to calculate your current mortgage payment. This includes the principal amount that you have borrowed from your bank and interest rate levied on it.
Take Out Monthly Payment
You can then divide your total property tax bill by 12 to know how much you owe in the tax on a month basis, and then add the monthly payment average to your principal mortgage loan, including interest.
Add Insurance Premiums
If you are paying any premiums on the property tax to homeowners, insurance cover, flood insurance premiums or have any other such expense, add the monthly total to your mortgage total with interest payment.
Add Association Fee, Escrow Shortage
In addition if your are paying any association fee or aware of any monthly Escrow shortage add the sum to total mortgage principal amount, again including the interest payment, and this will make your total mortgage payment, and you can know if you qualify for HAMP.
Including All Other Payments
You must be aware of any other tax or fee payment that you have been paying on a regularly basis, and add it up to the total mortgage payment. This will help you determine if you qualify for HAMP, which you can be denied by missing on such payments. Also try to be regular in your mortgage payment, even if you are in crisis, you can be on risk of default or foreclosure.