[kcchica]

I received my "forebearance agreement" this week. It doesn't state Home Savers anywhere on it. Of course it also doesn't state that the point of it is to "get behind" either. Since are current in our payments. It doesn't really explicitly state anywhere, "'this will not be reported as late". What sort of wording would I expect to see to that effect. I asked about it over the phone and and they said it wouldnt affect our credit, and confirmed it would be in the paperwork. It also doesn't really say what will happen in 4 months. We are supposed to pay 1/2 payments for 4 months, including July. Of course I had already paid July, so they are wanting me to just skip August, and they will pay my 1/2 payment for August, from July's full payment.

I am just curious, if there is any wording I should be looking for with this "forebearance agreenment" that deals with our credit or the future of our modfication, or if those sorts of things just aren't listed on a forebearance agreement. I guess I am a little confused by the idea that we are signing something that states a default has occured and this is the banks way of helping us, when in reality we haven't defaulted yet and this is the banks way to officially "get us behind" to qualify... It clearly states that no initial contribution is due ($0) on the actual payment schedule...
This is bofa. Does anyone have similar circumstances with the process and bofa?