***, You mentioned above that you have not heard of anyone getting the Early Workout mod yet. We signed ours a couple of weeks ago agreeing to pay an amount that is $800 less that our regular mortgage payment for 4 months. I did have to wrestle with them, they didn't willinly offer it to us.
We have breathing room till April. That said, that's when
CW will decide if they will modify our loan permanently. What seems so wrong about the arrangements is that the $10,000 that we will pay between now and then sits in an escrow account with penalties mounting.
It seems illegal,though it's undoubtedly spelled out in the small print of our contract. It's just counter to normal financial transactions that I'm used to. If I make a partial payment to a credit card, it is applied towards my payment, not held in abeyance as though I've paid nothing.
I'm just complaining because am exhausted by all this as is everyone else. It is such a hopeful and happy time with our new administration coming to power and it's a shame that this mortgage crisis is the flip-side.