Good Morning Vikingmom,
The NACA will come up with a better proposal. Their whole objective is to get a payment that is affordable to you. JMO but I would definitely turn down the offer you received yesterday and wait for a better one to come. It's not uncommon for
CW/BOA to offer a crap mod first. It happened to me. Just hold strong and be patient. I have faith in the NACA. They helped me save my home with a restructured loan at 2%.