Hi undecided welcome and thank you for joining the forum.
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(1) If I did not qualify why give a forebearance
(2) When I did calculations under Obama's plan
(income 31%) I got exactly what they offered me in
the forbearance.
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There are other modification programs that you may qualify for, this is maybe why they put you on the forbearance..
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(3) Is the forbearance the same as trial payments?
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Yes they are pretty much the same.
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(4) Should I agree to this (expires 7/29, states they will
stop foreclosure proceedings.
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This is really up to you, but I would have to suggest to take the offer because it will stop foreclosure proceedings and save you a lot of money over the next 6 months. After six months of on time and complete payments Indymac will further review your case for a permanent modification. Hopefully at the same rate as well...