Loan Modification Forum - LoanSafe.org - View Single Post - Modification? Forebearance? I'll Flip a Coin!

Calli09 · 04-10-2009, 01:18 AM

Kalvin 09, yes the papers mentioned that the lates during the 3 mo trial period will be reported.

And yes peggyinfl, it also states that this does not mean a definite approval.

Snapple Candy, no, there is not an interest rate mentioned. The actual plan workout is to come later after the trial.

I have not decided to accept, due to the fact that after reading through this it seems as though they actually could make the pmt more that what it is now. I am also wondering about the escrow. Only the phonecall today will give me any idea, so I will update you all later. Call me skeptical at this point. With it being "time sensitive" it makes the decision a difficult one.

Has anyone here turned down this " first offer" only to have a more decent one come along? Like I said, I am skeptical a bit to sign, thinking that if the pmt is raised, it will not help me at all, than I am locked in. Not being given any actual terms and int rates makes it seem like you are really signing a blank check. Any thoughts?

04-10-2009, 01:18 AM	#61 (permalink)
Calli09 Senior Member Join Date: Jan 2009 Posts: 114 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Modification? Forebearance? I'll Flip a Coin! Kalvin 09, yes the papers mentioned that the lates during the 3 mo trial period will be reported. And yes peggyinfl, it also states that this does not mean a definite approval. Snapple Candy, no, there is not an interest rate mentioned. The actual plan workout is to come later after the trial. I have not decided to accept, due to the fact that after reading through this it seems as though they actually could make the pmt more that what it is now. I am also wondering about the escrow. Only the phonecall today will give me any idea, so I will update you all later. Call me skeptical at this point. With it being "time sensitive" it makes the decision a difficult one. Has anyone here turned down this " first offer" only to have a more decent one come along? Like I said, I am skeptical a bit to sign, thinking that if the pmt is raised, it will not help me at all, than I am locked in. Not being given any actual terms and int rates makes it seem like you are really signing a blank check. Any thoughts?