[Moe Bedard]

You may want to go over this with PHH because I am not reading that statement the same way you are............to me it reads like a special forbearance in which you make payments on principle and interest that are reduced for a period of time:

that deals directly with reducing the principal and interest payment amount.

That would be the PI payment not the principle balance.........if I am reading it correctly..........but you would need to go over it with PHH and than decide what to do from there.