Loan Modification Forum - LoanSafe.org - View Single Post

ILResident · 07-06-2009, 10:14 AM

I don't believe the Forbearance you have been offered is part of the trial period of a Making Home Afordable Modification but rather a "HomeSavers Forbearance Plan". I recently received the same type of contract stating that I should pay 1/2 my loan for the next 6 months and then they may or may not modify my loan. I am confused as well as the information in 09-05R from Fannie Mae states that this is an alternative program and available for those who do not qualify for a Making Home Affordable modification. In your case it will probably be of benefit as then you only have to pay 1/2 your mortgage. I, on the other hand haven't paid my mortgage for over a year so I'm very hesitant to resume paying once again if foreclosure is inevitable.

07-06-2009, 10:14 AM	#7 (permalink)
ILResident Member Join Date: Apr 2009 Posts: 10 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Forebearance = trial period? I don't believe the Forbearance you have been offered is part of the trial period of a Making Home Afordable Modification but rather a "HomeSavers Forbearance Plan". I recently received the same type of contract stating that I should pay 1/2 my loan for the next 6 months and then they may or may not modify my loan. I am confused as well as the information in 09-05R from Fannie Mae states that this is an alternative program and available for those who do not qualify for a Making Home Affordable modification. In your case it will probably be of benefit as then you only have to pay 1/2 your mortgage. I, on the other hand haven't paid my mortgage for over a year so I'm very hesitant to resume paying once again if foreclosure is inevitable.